Insider Selling: Cytokinetics, Incorporated (CYTK) CEO Sells 5,000 Shares of Stock
Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $14.59, for a total transaction of $72,950.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Cytokinetics, Incorporated (NASDAQ CYTK) traded up 2.64% on Wednesday, reaching $15.55. 322,627 shares of the company traded hands. The company’s market capitalization is $834.51 million. Cytokinetics, Incorporated has a one year low of $8.77 and a one year high of $17.20. The firm’s 50 day moving average is $13.92 and its 200 day moving average is $13.71.
Cytokinetics, (NASDAQ:CYTK) last released its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $3.05 million during the quarter, compared to the consensus estimate of $5.28 million. Analysts expect that Cytokinetics, Incorporated will post ($2.46) earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in CYTK. Janus Henderson Group PLC bought a new position in Cytokinetics, in the second quarter valued at about $32,488,000. Vanguard Group Inc. grew its position in Cytokinetics, by 59.9% in the second quarter. Vanguard Group Inc. now owns 3,117,496 shares of the biopharmaceutical company’s stock valued at $37,721,000 after acquiring an additional 1,168,151 shares during the last quarter. State Street Corp grew its position in Cytokinetics, by 79.6% in the second quarter. State Street Corp now owns 1,674,335 shares of the biopharmaceutical company’s stock valued at $20,259,000 after acquiring an additional 741,909 shares during the last quarter. FMR LLC grew its position in Cytokinetics, by 8.8% in the first quarter. FMR LLC now owns 5,655,916 shares of the biopharmaceutical company’s stock valued at $72,679,000 after acquiring an additional 456,502 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in Cytokinetics, by 128.9% in the second quarter. Acadian Asset Management LLC now owns 766,263 shares of the biopharmaceutical company’s stock valued at $9,271,000 after acquiring an additional 431,457 shares during the last quarter. Hedge funds and other institutional investors own 71.51% of the company’s stock.
Several equities research analysts have recently commented on CYTK shares. Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of Cytokinetics, in a research note on Sunday, September 17th. Zacks Investment Research upgraded shares of Cytokinetics, from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Tuesday, July 11th. Morgan Stanley started coverage on shares of Cytokinetics, in a research report on Monday, July 31st. They set an “overweight” rating and a $24.00 price target on the stock. ValuEngine upgraded shares of Cytokinetics, from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Cowen and Company reiterated a “buy” rating and set a $19.00 price target on shares of Cytokinetics, in a research report on Friday, August 4th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $21.30.
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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