Cytokinetics, Incorporated (NASDAQ:CYTK) Director Wendall Wierenga Sells 20,000 Shares

by · The Cerbat Gem

Cytokinetics, Incorporated (NASDAQ:CYTK – Get Free Report) Director Wendall Wierenga sold 20,000 shares of Cytokinetics stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $38.46, for a total value of $769,200.00. Following the completion of the sale, the director now owns 24,848 shares of the company’s stock, valued at $955,654.08. The trade was a 44.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cytokinetics Stock Performance

Shares of NASDAQ:CYTK traded down $1.55 on Monday, hitting $37.93. 1,879,060 shares of the company were exchanged, compared to its average volume of 1,603,536. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The stock’s 50 day moving average price is $42.63 and its 200 day moving average price is $47.66. Cytokinetics, Incorporated has a 1-year low of $32.74 and a 1-year high of $68.76. The firm has a market capitalization of $4.52 billion, a P/E ratio of -7.05 and a beta of 0.94.

Cytokinetics (NASDAQ:CYTK – Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.03. The firm had revenue of $16.93 million for the quarter, compared to analyst estimates of $14.26 million. Sell-side analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Hedge Funds Weigh In On Cytokinetics

A number of institutional investors have recently bought and sold shares of CYTK. Jones Financial Companies Lllp increased its stake in shares of Cytokinetics by 189.8% in the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 374 shares during the period. Centricity Wealth Management LLC purchased a new position in shares of Cytokinetics during the 4th quarter valued at about $29,000. Fifth Third Bancorp lifted its holdings in shares of Cytokinetics by 42.2% in the 1st quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 291 shares during the period. Parallel Advisors LLC boosted its stake in shares of Cytokinetics by 500.5% in the first quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 916 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Cytokinetics by 281.0% during the first quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 826 shares in the last quarter.

Analyst Upgrades and Downgrades

CYTK has been the subject of several recent research reports. Morgan Stanley set a $67.00 price target on shares of Cytokinetics in a report on Friday, March 7th. Evercore ISI raised shares of Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. Stifel Nicolaus assumed coverage on Cytokinetics in a research report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 target price on the stock. JMP Securities reissued a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research report on Thursday, April 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a research note on Monday. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.63.

View Our Latest Report on CYTK

About Cytokinetics

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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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