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 Wednesday, November 1st. The stock was sold at an average price of $13.51, for a total value of $67,550.00. Following the completion of the sale, the chief executive officer now directly owns 70,180 shares in the company, valued at $948,131.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Cytokinetics, Incorporated (CYTK) traded up $0.70 on Friday, hitting $13.60. The stock had a trading volume of 670,702 shares, compared to its average volume of 433,057. The company has a current ratio of 7.60, a quick ratio of 10.21 and a debt-to-equity ratio of 0.14.
Cytokinetics, (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.04. The company had revenue of $6.18 million for the quarter, compared to analyst estimates of $5.35 million. Cytokinetics, had a negative return on equity of 62.64% and a negative net margin of 172.27%. sell-side analysts predict that Cytokinetics, Incorporated will post -2.39 EPS for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its stake in Cytokinetics, by 86.2% during the third quarter. BNP Paribas Arbitrage SA now owns 24,815 shares of the biopharmaceutical company’s stock valued at $360,000 after buying an additional 11,487 shares in the last quarter. Swiss National Bank boosted its stake in Cytokinetics, by 13.2% during the third quarter. Swiss National Bank now owns 65,200 shares of the biopharmaceutical company’s stock valued at $945,000 after buying an additional 7,600 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Cytokinetics, by 6.7% during the third quarter. Principal Financial Group Inc. now owns 456,137 shares of the biopharmaceutical company’s stock valued at $6,614,000 after buying an additional 28,708 shares in the last quarter. Birchview Capital LP bought a new position in Cytokinetics, during the third quarter valued at about $145,000. Finally, Prudential Financial Inc. boosted its stake in Cytokinetics, by 8.1% during the third quarter. Prudential Financial Inc. now owns 81,550 shares of the biopharmaceutical company’s stock valued at $1,182,000 after buying an additional 6,115 shares in the last quarter. 70.94% of the stock is owned by institutional investors and hedge funds.
CYTK has been the topic of several analyst reports. Zacks Investment Research raised Cytokinetics, from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Tuesday, July 11th. BidaskClub raised Cytokinetics, from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Morgan Stanley initiated coverage on Cytokinetics, in a research report on Monday, July 31st. They issued an “overweight” rating and a $24.00 target price on the stock. HC Wainwright set a $26.00 target price on Cytokinetics, and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $19.00 target price on shares of Cytokinetics, in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Cytokinetics, currently has a consensus rating of “Buy” and an average target price of $21.60.
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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