Cytokinetics, Incorporated (NASDAQ:CYTK) Director Sells $681,671.48 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) Director John T. Henderson sold 10,562 shares of the company's stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $64.54, for a total value of $681,671.48. Following the completion of the sale, the director now owns 32,070 shares in the company, valued at $2,069,797.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cytokinetics Stock Performance

CYTK traded down $2.02 during trading on Thursday, reaching $64.80. The company had a trading volume of 1,112,285 shares, compared to its average volume of 2,924,911. The firm's 50-day simple moving average is $70.14 and its 200 day simple moving average is $59.58. Cytokinetics, Incorporated has a 12-month low of $25.98 and a 12-month high of $110.25. The company has a market cap of $6.78 billion, a price-to-earnings ratio of -11.89 and a beta of 0.68.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The business had revenue of $1.70 million during the quarter, compared to the consensus estimate of $7.62 million. Cytokinetics's quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.45) earnings per share. On average, sell-side analysts expect that Cytokinetics, Incorporated will post -4.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CYTK. Truist Financial reiterated a "buy" rating and issued a $86.00 price target on shares of Cytokinetics in a report on Monday, April 8th. Oppenheimer restated an "outperform" rating and set a $107.00 target price on shares of Cytokinetics in a report on Monday, March 4th. Mizuho dropped their price objective on shares of Cytokinetics from $103.00 to $99.00 and set a "buy" rating on the stock in a research note on Wednesday, March 6th. StockNews.com lowered Cytokinetics from a "hold" rating to a "sell" rating in a research report on Friday, January 5th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $108.00 target price on shares of Cytokinetics in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $79.33.

Hedge Funds Weigh In On Cytokinetics

Several large investors have recently bought and sold shares of CYTK. Amalgamated Bank boosted its stake in Cytokinetics by 25.6% in the first quarter. Amalgamated Bank now owns 51,298 shares of the biopharmaceutical company's stock worth $3,597,000 after purchasing an additional 10,469 shares in the last quarter. New Mexico Educational Retirement Board bought a new stake in shares of Cytokinetics during the first quarter worth $1,437,000. Fifth Third Bancorp boosted its stake in Cytokinetics by 94.1% in the first quarter. Fifth Third Bancorp now owns 656 shares of the biopharmaceutical company's stock valued at $46,000 after acquiring an additional 318 shares during the last quarter. State of Michigan Retirement System bought a new position in shares of Cytokinetics in the 1st quarter worth $1,690,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Cytokinetics by 19.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,416 shares of the biopharmaceutical company's stock worth $239,000 after acquiring an additional 558 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.

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