Cytokinetics (NASDAQ:CYTK) Director Sells $336,789.00 in Stock

by · The Cerbat Gem

Cytokinetics, Incorporated (NASDAQ:CYTK – Get Free Report) Director Edward Md Kaye sold 5,175 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $65.08, for a total transaction of $336,789.00. Following the sale, the director directly owned 9,977 shares of the company’s stock, valued at approximately $649,303.16. This trade represents a 34.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Cytokinetics Stock Performance

CYTK opened at $66.44 on Friday. The company has a fifty day moving average price of $57.04 and a two-hundred day moving average price of $42.97. The firm has a market capitalization of $8.12 billion, a PE ratio of -13.03 and a beta of 0.58. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $67.07.

Cytokinetics (NASDAQ:CYTK – Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.59) by $0.05. The company had revenue of $1.94 million during the quarter, compared to analyst estimates of $6.05 million. During the same period last year, the company earned ($1.36) EPS. The business’s revenue for the quarter was up 318.1% compared to the same quarter last year. Equities analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CYTK shares. Wall Street Zen lowered Cytokinetics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. B. Riley restated a “buy” rating and set a $90.00 price objective (up previously from $80.00) on shares of Cytokinetics in a report on Monday, November 10th. HC Wainwright reiterated a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a report on Monday, September 29th. Citigroup lifted their price target on shares of Cytokinetics from $77.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, September 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cytokinetics in a research report on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.86.

Get Our Latest Report on CYTK

Institutional Investors Weigh In On Cytokinetics

Several large investors have recently made changes to their positions in the stock. UMB Bank n.a. lifted its position in Cytokinetics by 10.6% in the 3rd quarter. UMB Bank n.a. now owns 1,762 shares of the biopharmaceutical company’s stock valued at $97,000 after acquiring an additional 169 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Cytokinetics by 32.3% in the 3rd quarter. Fifth Third Bancorp now owns 1,072 shares of the biopharmaceutical company’s stock valued at $59,000 after purchasing an additional 262 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Cytokinetics by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 33,100 shares of the biopharmaceutical company’s stock valued at $1,330,000 after purchasing an additional 300 shares in the last quarter. State of Michigan Retirement System boosted its position in shares of Cytokinetics by 1.1% during the first quarter. State of Michigan Retirement System now owns 28,200 shares of the biopharmaceutical company’s stock worth $1,133,000 after buying an additional 300 shares during the period. Finally, Teacher Retirement System of Texas boosted its position in shares of Cytokinetics by 1.1% during the second quarter. Teacher Retirement System of Texas now owns 30,514 shares of the biopharmaceutical company’s stock worth $1,008,000 after buying an additional 341 shares during the period.

About Cytokinetics

(Get Free Report)

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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