Cytokinetics, Incorporated (NASDAQ:CYTK) Insider Sells $141,509.56 in Stock
Cytokinetics, Incorporated (NASDAQ:CYTK) insider Caryn Gordon Mcdowell sold 11,348 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $12.47, for a total transaction of $141,509.56. Following the sale, the insider now owns 21,570 shares of the company’s stock, valued at approximately $268,977.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Cytokinetics, Incorporated (NASDAQ:CYTK) traded down 3.23% on Thursday, hitting $12.00. 735,170 shares of the stock were exchanged. The company’s 50 day moving average price is $13.49 and its 200-day moving average price is $13.02. The company’s market cap is $643.99 million. Cytokinetics, Incorporated has a one year low of $8.51 and a one year high of $17.20.
Cytokinetics, (NASDAQ:CYTK) last announced its earnings results 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. The company had revenue of $3.05 million for the quarter, compared to the consensus estimate of $5.28 million. Cytokinetics, had a negative return on equity of 14.15% and a negative net margin of 16.00%. Equities research analysts predict that Cytokinetics, Incorporated will post ($2.08) EPS for the current fiscal year.
Several analysts have recently commented on CYTK shares. BidaskClub upgraded shares of Cytokinetics, from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Cowen and Company reiterated a “buy” rating and issued a $19.00 price objective on shares of Cytokinetics, in a research note on Friday, August 4th. HC Wainwright set a $26.00 price objective on shares of Cytokinetics, and gave the company a “buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research upgraded shares of Cytokinetics, from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Monday. Finally, Morgan Stanley started coverage on shares of Cytokinetics, in a research note on Monday, July 31st. They issued an “overweight” rating and a $24.00 price objective for the company. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $21.30.
Large investors have recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new stake in shares of Cytokinetics, during the second quarter worth about $109,000. Municipal Employees Retirement System of Michigan bought a new stake in shares of Cytokinetics, during the second quarter worth about $132,000. LMR Partners LLP bought a new stake in shares of Cytokinetics, during the first quarter worth about $156,000. Bank of America Corp DE boosted its stake in shares of Cytokinetics, by 36.8% in the first quarter. Bank of America Corp DE now owns 12,571 shares of the biopharmaceutical company’s stock worth $162,000 after buying an additional 3,383 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Cytokinetics, by 4,464.4% in the second quarter. BNP Paribas Arbitrage SA now owns 13,328 shares of the biopharmaceutical company’s stock worth $161,000 after buying an additional 13,036 shares during the last quarter. 59.76% of the stock is owned by hedge funds and other institutional investors.
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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