Cytokinetics, Incorporated (CYTK) CEO Sells $67,550.00 in Stock

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.

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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.

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