Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Sells 5,000 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) CEO Robert I. Blum sold 5,000 shares of the company's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $38.15, for a total value of $190,750.00. Following the transaction, the chief executive officer directly owned 393,108 shares of the company's stock, valued at $14,997,070.20. This represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Cytokinetics Stock Down 4.6%

Shares of CYTK stock traded down $1.79 during trading on Friday, hitting $37.10. The company had a trading volume of 676,132 shares, compared to its average volume of 1,529,892. The stock's 50-day moving average is $33.08 and its two-hundred day moving average is $39.93. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of -7.03 and a beta of 0.59. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $61.38.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, topping the consensus estimate of ($1.41) by $0.05. The company had revenue of $1.60 million during the quarter, compared to the consensus estimate of $2.77 million. During the same quarter last year, the company posted ($1.33) earnings per share. The firm's revenue for the quarter was up 89.1% on a year-over-year basis. On average, research analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Cytokinetics

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Cytokinetics by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company's stock valued at $560,520,000 after purchasing an additional 154,216 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Cytokinetics by 11.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company's stock valued at $505,780,000 after buying an additional 1,062,136 shares during the last quarter. Vestal Point Capital LP grew its stake in shares of Cytokinetics by 10.2% during the first quarter. Vestal Point Capital LP now owns 2,590,531 shares of the biopharmaceutical company's stock valued at $104,113,000 after buying an additional 240,531 shares during the last quarter. Deep Track Capital LP grew its stake in shares of Cytokinetics by 296.9% during the fourth quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company's stock valued at $117,600,000 after buying an additional 1,870,094 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Cytokinetics by 14.9% during the fourth quarter. Marshall Wace LLP now owns 2,153,313 shares of the biopharmaceutical company's stock valued at $101,292,000 after buying an additional 279,612 shares during the last quarter.

Analyst Upgrades and Downgrades

CYTK has been the subject of several recent research reports. Royal Bank Of Canada reduced their price target on Cytokinetics from $82.00 to $80.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Bank of America cut their price objective on Cytokinetics from $62.00 to $54.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price objective on Cytokinetics from $71.00 to $53.00 and set an "overweight" rating on the stock in a research note on Monday, June 9th. Barclays dropped their price target on Cytokinetics from $55.00 to $53.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Finally, UBS Group lowered their price objective on Cytokinetics from $47.00 to $41.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.92.

About Cytokinetics

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.