Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 7,321 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $13.39, for a total transaction of $98,028.19. Following the sale, the executive vice president now owns 47,540 shares in the company, valued at $636,560.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) traded up $0.70 during midday trading on Friday, reaching $13.60. 670,702 shares of the company’s stock were exchanged, compared to its average volume of 433,057. The company has a quick ratio of 10.21, a current ratio of 7.60 and a debt-to-equity ratio of 0.14.
Cytokinetics, (NASDAQ:CYTK) last announced its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported ($0.60) earnings per share (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 the consensus estimate of $5.35 million. Cytokinetics, had a negative net margin of 172.27% and a negative return on equity of 62.64%. equities research analysts predict that Cytokinetics, Incorporated will post -2.39 earnings per share for the current year.
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Institutional investors have recently bought and sold shares of the company. Prudential Financial Inc. bought a new stake in shares of Cytokinetics, in the 2nd quarter worth about $913,000. Janus Henderson Group PLC bought a new stake in shares of Cytokinetics, in the 2nd quarter worth about $32,488,000. Fox Run Management L.L.C. bought a new stake in shares of Cytokinetics, in the 2nd quarter worth about $436,000. Swiss National Bank bought a new stake in shares of Cytokinetics, in the 2nd quarter worth about $697,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Cytokinetics, by 56.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 259,833 shares of the biopharmaceutical company’s stock worth $3,144,000 after buying an additional 93,504 shares during the last quarter. Hedge funds and other institutional investors own 70.94% of the company’s stock.
Several analysts have recently commented on the stock. TheStreet downgraded shares of Cytokinetics, from a “c” rating to a “d” rating in a research report on Friday, October 27th. Needham & Company LLC restated a “buy” rating and set a $22.00 price objective on shares of Cytokinetics, in a research report on Sunday, October 29th. Cowen and Company restated a “buy” rating and set a $19.00 price objective on shares of Cytokinetics, in a research report 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 report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded shares of Cytokinetics, from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Monday, August 7th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus 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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