Insider Buying: Cytokinetics Director Acquires 10,850 Shares of Stock (CYTK)
Cytokinetics (NASDAQ:CYTK) Director L Patrick Gage acquired 10,850 shares of Cytokinetics stock in a transaction dated Friday, May 9th. The shares were purchased at an average price of $4.09 per share, with a total value of $44,376.50. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $40,900. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Cytokinetics (NASDAQ:CYTK) traded up 1.87% on Monday, hitting $4.36. The stock had a trading volume of 1,234,878 shares. Cytokinetics has a 52 week low of $3.96 and a 52 week high of $14.28. The stock has a 50-day moving average of $7.87 and a 200-day moving average of $7.86. The company’s market cap is $159.6 million.
Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.07. The company had revenue of $8.00 million for the quarter, compared to the consensus estimate of $7.69 million. Analysts expect that Cytokinetics will post $-1.20 EPS for the current fiscal year.
CYTK has been the subject of a number of recent research reports. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Cytokinetics in a research note on Thursday. They now have a $8.00 price target on the stock, down previously from $9.00. Finally, analysts at Needham & Company LLC cut their price target on shares of Cytokinetics from $25.00 to $15.00 in a research note on Monday, April 28th. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Cytokinetics presently has a consensus rating of “Buy” and a consensus target price of $12.00.
Cytokinetics, Incorporated (NASDAQ:CYTK) is a biopharmaceutical company focused on the discovery and development of small molecule therapeutics that modulate muscle function for the potential treatment of serious diseases and medical conditions.
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