Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) Director Sells 3,636 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) Director Edward M. Md Kaye sold 3,636 shares of Cytokinetics stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $32.10, for a total value of $116,715.60. Following the completion of the transaction, the director now directly owns 29,658 shares in the company, valued at approximately $952,021.80. This represents a 10.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Cytokinetics Price Performance

NASDAQ CYTK traded up $0.58 during trading on Friday, reaching $32.66. 312,702 shares of the company traded hands, compared to its average volume of 1,562,127. Cytokinetics, Incorporated has a 1-year low of $29.31 and a 1-year high of $61.38. The company has a market cap of $3.90 billion, a price-to-earnings ratio of -6.06 and a beta of 0.59. The stock's 50 day moving average price is $35.34 and its two-hundred day moving average price is $43.08. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, beating the consensus estimate of ($1.41) by $0.05. The company had revenue of $1.60 million during the quarter, compared to analyst estimates of $2.77 million. During the same period in the prior year, the firm earned ($1.33) EPS. Cytokinetics's quarterly revenue was up 89.1% compared to the same quarter last year. As a group, analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Institutional Investors Weigh In On Cytokinetics

Hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp increased its holdings in shares of Cytokinetics by 189.8% during the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 374 shares in the last quarter. Centricity Wealth Management LLC bought a new position in Cytokinetics in the 4th quarter valued at $29,000. Fifth Third Bancorp boosted its stake in Cytokinetics by 42.2% in the first quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company's stock worth $39,000 after purchasing an additional 291 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Cytokinetics by 500.5% during the first quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company's stock worth $44,000 after purchasing an additional 916 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Cytokinetics by 281.0% in the first quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company's stock valued at $45,000 after buying an additional 826 shares in the last quarter.

Analyst Upgrades and Downgrades

CYTK has been the topic of a number of research reports. Citigroup dropped their target price on shares of Cytokinetics from $86.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Cantor Fitzgerald upgraded shares of Cytokinetics to a "strong-buy" rating in a research report on Tuesday, May 13th. Mizuho dropped their price objective on shares of Cytokinetics from $103.00 to $84.00 and set an "outperform" rating on the stock in a report on Thursday, May 29th. Evercore ISI raised shares of Cytokinetics to a "strong-buy" rating in a research report on Friday, February 7th. Finally, Barclays decreased their target price on Cytokinetics from $55.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Cytokinetics currently has a consensus rating of "Moderate Buy" and an average target price of $72.31.

Cytokinetics Company Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.