Cytokinetics, Inc. (NASDAQ:CYTK) CEO Robert I. Blum Sells 6,000 Shares

Cytokinetics, Inc. (NASDAQ:CYTK) CEO Robert I. Blum sold 6,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $12.64, for a total value of $75,840.00. Following the completion of the transaction, the chief executive officer now owns 250,022 shares of the company’s stock, valued at $3,160,278.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

NASDAQ:CYTK traded up $0.77 on Friday, hitting $13.26. 444,400 shares of the stock were exchanged, compared to its average volume of 537,139. The stock has a market cap of $741.11 million, a PE ratio of -6.80 and a beta of 1.66. The company has a current ratio of 8.42, a quick ratio of 7.09 and a debt-to-equity ratio of 12.35. The stock has a fifty day moving average of $11.88 and a 200-day moving average of $9.55. Cytokinetics, Inc. has a fifty-two week low of $5.75 and a fifty-two week high of $14.25.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.06). Cytokinetics had a negative return on equity of 575.21% and a negative net margin of 308.73%. The company had revenue of $7.14 million during the quarter, compared to analysts’ expectations of $6.81 million. As a group, analysts predict that Cytokinetics, Inc. will post -2 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can boosted its position in shares of Cytokinetics by 109.5% in the first quarter. Bank of Montreal Can now owns 3,321 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 1,736 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Cytokinetics by 59,718.8% in the first quarter. BNP Paribas Arbitrage SA now owns 9,571 shares of the biopharmaceutical company’s stock worth $77,000 after buying an additional 9,555 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Cytokinetics by 404.0% in the second quarter. Meeder Asset Management Inc. now owns 9,994 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 8,011 shares during the period. Squarepoint Ops LLC boosted its position in shares of Cytokinetics by 14.2% in the fourth quarter. Squarepoint Ops LLC now owns 11,600 shares of the biopharmaceutical company’s stock worth $73,000 after buying an additional 1,438 shares during the period. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in shares of Cytokinetics in the fourth quarter worth about $98,000. 69.44% of the stock is owned by institutional investors.

Several equities analysts recently commented on the company. Zacks Investment Research lowered Cytokinetics from a “hold” rating to a “sell” rating in a research note on Tuesday. Cantor Fitzgerald reiterated a “buy” rating and issued a $14.00 target price on shares of Cytokinetics in a research note on Friday, May 10th. HC Wainwright upped their target price on Cytokinetics from $21.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Morgan Stanley set a $16.00 price target on Cytokinetics and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, BidaskClub lowered Cytokinetics from a “strong-buy” rating to a “buy” rating in a research note on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Cytokinetics presently has an average rating of “Buy” and a consensus price target of $16.00.

About Cytokinetics

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. The company is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.

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