Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum Sells 5,000 Shares

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

Cytokinetics Stock Performance

CYTK traded up $0.67 during midday trading on Wednesday, reaching $38.68. The company had a trading volume of 1,634,948 shares, compared to its average volume of 1,535,584. The stock has a market cap of $4.62 billion, a PE ratio of -7.31 and a beta of 0.59. Cytokinetics, Incorporated has a 12-month low of $29.31 and a 12-month high of $61.38. The business has a 50-day moving average price of $32.96 and a two-hundred day moving average price of $39.99.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, beating analysts' consensus estimates of ($1.41) by $0.05. The company had revenue of $1.60 million during the quarter, compared to analysts' expectations of $2.77 million. The firm's revenue was up 89.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.33) earnings per share. On average, research analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CYTK. UBS Group cut their price target on shares of Cytokinetics from $47.00 to $41.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Royal Bank Of Canada cut their price target on shares of Cytokinetics from $82.00 to $80.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Needham & Company LLC restated a "buy" rating and set a $72.00 price target on shares of Cytokinetics in a report on Wednesday, May 14th. JPMorgan Chase & Co. cut their price target on shares of Cytokinetics from $71.00 to $53.00 and set an "overweight" rating on the stock in a report on Monday, June 9th. Finally, Cantor Fitzgerald upgraded shares of Cytokinetics to a "strong-buy" rating in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.92.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in shares of Cytokinetics during the 4th quarter valued at approximately $254,000. AlphaQuest LLC lifted its stake in shares of Cytokinetics by 113,500.0% during the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock valued at $53,000 after buying an additional 1,135 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Cytokinetics by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company's stock valued at $560,520,000 after buying an additional 154,216 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Cytokinetics by 281.0% during the 1st 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. Finally, Two Sigma Advisers LP lifted its stake in shares of Cytokinetics by 5.4% during the 4th quarter. Two Sigma Advisers LP now owns 226,400 shares of the biopharmaceutical company's stock valued at $10,650,000 after buying an additional 11,700 shares in the last quarter.

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.