Insider Selling: Cytokinetics (NASDAQ:CYTK) CEO Sells 7,500 Shares of Stock

Key Points

• Cytokinetics CEO Robert Blum sold 7,500 shares on May 14 at an average price of $77.92, for proceeds of about $584,400. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• After the transaction, Blum still owned 400,330 shares, valued at roughly $31.2 million, which reduced his stake by 1.84%. The company’s stock was trading up about 1.8% around the time of the filing.
• Analysts remain largely constructive on CYTK, with a consensus rating of Moderate Buy and an average target price of $98.55. Recent updates included higher price targets from HC Wainwright, Stifel, Mizuho, and RBC, though some longer-term earnings estimates were trimmed.

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) CEO Robert Blum sold 7,500 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $77.92, for a total value of $584,400.00. Following the completion of the transaction, the chief executive officer owned 400,330 shares in the company, valued at approximately $31,193,713.60. This represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cytokinetics Trading Up 1.8%

Shares of CYTK traded up $1.42 during trading hours on Thursday, reaching $78.64. The stock had a trading volume of 2,348,837 shares, compared to its average volume of 2,243,325. Cytokinetics, Incorporated has a 12 month low of $29.31 and a 12 month high of $80.20. The firm has a 50-day simple moving average of $65.30 and a 200 day simple moving average of $64.38. The company has a market capitalization of $9.79 billion, a price-to-earnings ratio of -11.50 and a beta of 0.38.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($1.67). The firm had revenue of $19.36 million during the quarter, compared to the consensus estimate of $8.52 million. During the same quarter in the prior year, the business earned ($1.36) earnings per share. Cytokinetics's revenue for the quarter was up 1112.5% on a year-over-year basis. On average, equities analysts forecast that Cytokinetics, Incorporated will post -6.31 EPS for the current year.

Institutional Investors Weigh In On Cytokinetics

Large investors have recently made changes to their positions in the business. Kemnay Advisory Services Inc. purchased a new stake in shares of Cytokinetics during the 4th quarter valued at $27,000. Kestra Advisory Services LLC purchased a new stake in shares of Cytokinetics during the 4th quarter valued at $29,000. TD Waterhouse Canada Inc. purchased a new stake in shares of Cytokinetics during the 4th quarter valued at $32,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Cytokinetics by 46.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company's stock valued at $35,000 after purchasing an additional 171 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of Cytokinetics during the 3rd quarter valued at $30,000.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CYTK. Weiss Ratings restated a "sell (d-)" rating on shares of Cytokinetics in a research note on Monday, April 20th. HC Wainwright raised their price objective on Cytokinetics from $136.00 to $140.00 and gave the company a "buy" rating in a research note on Monday. Stifel Nicolaus raised their price objective on Cytokinetics from $98.00 to $108.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Mizuho raised their price objective on Cytokinetics from $84.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, March 18th. Finally, Royal Bank Of Canada raised their price objective on Cytokinetics from $101.00 to $119.00 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $98.55.

Key Cytokinetics News

Here are the key news stories impacting Cytokinetics this week:

• Positive Sentiment: HC Wainwright raised its 2026 EPS estimates for Cytokinetics and reaffirmed a Buy rating with a $140 price target, signaling confidence in the company’s longer-term growth outlook. HC Wainwright estimate updates
• Positive Sentiment: HC Wainwright also lifted its Q2, Q3, and Q4 2026 EPS estimates, and improved its FY2026 forecast, suggesting slightly better near-term earnings expectations for the biopharma company. HC Wainwright estimate updates
• Positive Sentiment: JPMorgan reportedly assigned a new $97 price target on CYTK, adding to the recent analyst-driven interest that may be helping sentiment. JPMorgan price target article
• Neutral Sentiment: The company announced it will host its third annual CLIMB muscle biology research symposium on May 29, a visibility-building event that is more informational than immediately financial. CLIMB symposium announcement
• Neutral Sentiment: Options trading was reported as unusually high, which can indicate heightened investor speculation around the stock, but it does not by itself confirm a fundamental catalyst. Unusually high options trading article
• Negative Sentiment: Some of HC Wainwright’s longer-term EPS estimates were revised lower, including FY2027 and FY2028, which could temper enthusiasm about profitability over time. HC Wainwright estimate updates

Cytokinetics Company Profile

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company's most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.