Robert I. Blum Sells 5,000 Shares of Cytokinetics, Incorporated (CYTK) Stock
Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 5,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $14.71, for a total value of $73,550.00. Following the completion of the transaction, the chief executive officer now owns 79,785 shares of the company’s stock, valued at $1,173,637.35. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Cytokinetics, Incorporated (NASDAQ CYTK) traded down 0.67% during trading on Friday, hitting $14.75. 307,289 shares of the stock were exchanged. The stock’s market cap is $791.57 million. Cytokinetics, Incorporated has a 52 week low of $8.51 and a 52 week high of $17.20. The stock has a 50 day moving average of $13.45 and a 200-day moving average of $13.28.
Cytokinetics, (NASDAQ:CYTK) last released its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by $0.03. Cytokinetics, had a negative net margin of 16.00% and a negative return on equity of 14.15%. The firm had revenue of $3.05 million during the quarter, compared to analysts’ expectations of $5.28 million. Equities analysts expect that Cytokinetics, Incorporated will post ($2.46) EPS for the current fiscal year.
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CYTK has been the subject of a number of research reports. Zacks Investment Research upgraded Cytokinetics, from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Monday, August 7th. Cowen and Company reiterated a “buy” rating and issued a $19.00 price target on shares of Cytokinetics, in a research note on Friday, August 4th. HC Wainwright set a $26.00 price objective on Cytokinetics, and gave the company a “buy” rating in a report on Thursday, August 3rd. BidaskClub upgraded Cytokinetics, from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, ValuEngine upgraded Cytokinetics, from a “sell” rating to a “hold” rating in a report on Friday. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $21.30.
Several institutional investors have recently made changes to their positions in the stock. Airain ltd boosted its position in shares of Cytokinetics, by 91.5% in the first quarter. Airain ltd now owns 41,748 shares of the biopharmaceutical company’s stock valued at $536,000 after buying an additional 19,948 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Cytokinetics, during the first quarter worth $802,000. Nine Chapters Capital Management LLC acquired a new stake in shares of Cytokinetics, during the first quarter worth $265,000. Parametric Portfolio Associates LLC boosted its stake in shares of Cytokinetics, by 1.4% in the first quarter. Parametric Portfolio Associates LLC now owns 13,333 shares of the biopharmaceutical company’s stock worth $171,000 after buying an additional 189 shares during the period. Finally, TFS Capital LLC acquired a new stake in shares of Cytokinetics, during the first quarter worth $1,233,000. Institutional investors own 71.51% of the company’s stock.
Cytokinetics, Company Profile
Cytokinetics, Incorporated is a late-stage biopharmaceutical company. The Company is focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions.
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