Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 5,000 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $13.51, for a total value of $67,550.00. Following the sale, the chief executive officer now owns 70,180 shares of the company’s stock, valued at $948,131.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Cytokinetics, Incorporated (CYTK) opened at $13.60 on Monday. 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 announced its earnings results on Thursday, October 26th. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.64) by $0.04. Cytokinetics, had a negative return on equity of 62.64% and a negative net margin of 172.27%. The firm had revenue of $6.18 million during the quarter, compared to analyst estimates of $5.35 million. equities research analysts predict that Cytokinetics, Incorporated will post -2.39 EPS for the current fiscal year.
Large investors have recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new position in shares of Cytokinetics, in the 2nd quarter worth approximately $109,000. Birchview Capital LP bought a new position in shares of Cytokinetics, in the 3rd quarter worth approximately $145,000. Municipal Employees Retirement System of Michigan bought a new position in shares of Cytokinetics, in the 2nd quarter worth approximately $132,000. Bank of America Corp DE raised its position in shares of Cytokinetics, by 36.8% in the 1st quarter. Bank of America Corp DE now owns 12,571 shares of the biopharmaceutical company’s stock worth $162,000 after acquiring an additional 3,383 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of Cytokinetics, by 4,464.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,328 shares of the biopharmaceutical company’s stock worth $161,000 after acquiring an additional 13,036 shares in the last quarter. 71.02% of the stock is owned by hedge funds and other institutional investors.
CYTK has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Cytokinetics, in a report on Sunday, September 17th. Seaport Global Securities restated a “buy” rating and set a $24.00 target price on shares of Cytokinetics, in a report on Friday, October 6th. Zacks Investment Research upgraded Cytokinetics, from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Tuesday, July 11th. Cowen and Company restated a “buy” rating and set a $19.00 target price on shares of Cytokinetics, in a report on Friday, August 4th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $21.00 target price on shares of Cytokinetics, in a report on Tuesday, September 26th. 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 an average 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.
What are top analysts saying about Cytokinetics Incorporated? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Cytokinetics Incorporated and related companies.