Cytokinetics, Incorporated (NASDAQ:CYTK) Director Wendall Wierenga Sells 4,452 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) Director Wendall Wierenga sold 4,452 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $52.25, for a total transaction of $232,617.00. Following the transaction, the director now directly owns 24,559 shares of the company’s stock, valued at $1,283,207.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Cytokinetics Stock Down 0.6 %

Shares of CYTK stock traded down $0.31 on Thursday, hitting $51.00. The stock had a trading volume of 989,437 shares, compared to its average volume of 2,094,364. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of -9.50 and a beta of 0.77. The stock’s 50 day moving average is $54.50 and its 200-day moving average is $56.23. The company has a debt-to-equity ratio of 5.93, a quick ratio of 10.39 and a current ratio of 10.39. Cytokinetics, Incorporated has a 52-week low of $30.68 and a 52-week high of $110.25.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.25). The business had revenue of $0.25 million for the quarter, compared to analysts’ expectations of $7.61 million. During the same quarter last year, the business earned ($1.34) EPS. Cytokinetics’s revenue was down 71.3% compared to the same quarter last year. As a group, research analysts expect that Cytokinetics, Incorporated will post -5.15 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. JMP Securities reissued a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research report on Wednesday, September 4th. The Goldman Sachs Group lowered shares of Cytokinetics from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $85.00 to $60.00 in a research report on Tuesday, August 13th. Finally, HC Wainwright reissued a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Cytokinetics has an average rating of “Moderate Buy” and an average target price of $83.93.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CYTK. Darwin Global Management Ltd. bought a new position in Cytokinetics during the 2nd quarter valued at $246,074,000. Westfield Capital Management Co. LP bought a new position in Cytokinetics during the 1st quarter valued at $51,277,000. Integral Health Asset Management LLC boosted its stake in Cytokinetics by 122.2% during the 2nd quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $54,180,000 after acquiring an additional 550,000 shares during the last quarter. Sarissa Capital Management LP acquired a new stake in shares of Cytokinetics during the first quarter worth $21,033,000. Finally, Iron Triangle Partners LP acquired a new stake in shares of Cytokinetics during the first quarter worth $21,033,000.

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.