Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum Sells 11,500 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 11,500 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $54.05, for a total transaction of $621,575.00. Following the sale, the chief executive officer now owns 405,145 shares of the company’s stock, valued at $21,898,087.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cytokinetics Stock Performance

Shares of NASDAQ:CYTK traded up $0.52 during trading hours on Monday, hitting $54.70. 1,951,396 shares of the company’s stock traded hands, compared to its average volume of 2,726,248. Cytokinetics, Incorporated has a 52 week low of $25.98 and a 52 week high of $110.25. The company’s fifty day simple moving average is $56.77 and its two-hundred day simple moving average is $67.24. The company has a market cap of $5.74 billion, a price-to-earnings ratio of -10.14 and a beta of 0.75.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($1.16) by ($0.17). The firm had revenue of $0.84 million for the quarter, compared to the consensus estimate of $0.91 million. During the same period last year, the business posted ($1.38) EPS. The company’s quarterly revenue was down 81.8% on a year-over-year basis. On average, analysts anticipate that Cytokinetics, Incorporated will post -4.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Bank of America decreased their price objective on shares of Cytokinetics from $70.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, May 23rd. JMP Securities reduced their target price on shares of Cytokinetics from $106.00 to $78.00 and set a “market outperform” rating on the stock in a research report on Tuesday, May 28th. Raymond James reduced their target price on shares of Cytokinetics from $92.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. Truist Financial reduced their target price on shares of Cytokinetics from $86.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Cytokinetics from $77.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Cytokinetics currently has a consensus rating of “Moderate Buy” and an average target price of $77.06.

Institutional Trading of Cytokinetics

A number of hedge funds have recently bought and sold shares of the company. Maryland State Retirement & Pension System lifted its stake in Cytokinetics by 0.8% during the fourth quarter. Maryland State Retirement & Pension System now owns 35,637 shares of the biopharmaceutical company’s stock valued at $2,975,000 after buying an additional 278 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Cytokinetics by 9.6% during the fourth quarter. Quadrant Capital Group LLC now owns 3,268 shares of the biopharmaceutical company’s stock valued at $273,000 after buying an additional 287 shares in the last quarter. Fifth Third Bancorp lifted its stake in Cytokinetics by 94.1% during the first quarter. Fifth Third Bancorp now owns 656 shares of the biopharmaceutical company’s stock valued at $46,000 after buying an additional 318 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in Cytokinetics by 2.0% during the fourth quarter. Mutual of America Capital Management LLC now owns 17,162 shares of the biopharmaceutical company’s stock valued at $1,433,000 after buying an additional 337 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Cytokinetics by 4.8% in the third quarter. PNC Financial Services Group Inc. now owns 7,373 shares of the biopharmaceutical company’s stock worth $217,000 after purchasing an additional 340 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.