Cytokinetics, Inc. (CYTK) CEO Sells $31,760.00 in Stock

Cytokinetics, Inc. (NASDAQ:CYTK) CEO Robert I. Blum sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $7.94, for a total transaction of $31,760.00. Following the sale, the chief executive officer now directly owns 164,022 shares of the company’s stock, valued at $1,302,334.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

NASDAQ CYTK traded down $0.20 during trading on Friday, reaching $7.85. 189,200 shares of the stock traded hands, compared to its average volume of 330,569. The stock has a market cap of $439.76 million, a P/E ratio of -3.03 and a beta of 1.31. The company has a debt-to-equity ratio of 0.41, a quick ratio of 8.95 and a current ratio of 8.95. Cytokinetics, Inc. has a fifty-two week low of $6.20 and a fifty-two week high of $15.95.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Thursday, July 26th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.51). The firm had revenue of $6.22 million for the quarter, compared to analyst estimates of $5.54 million. analysts predict that Cytokinetics, Inc. will post -1.96 earnings per share for the current fiscal year.

A number of research firms recently weighed in on CYTK. Piper Jaffray Companies dropped their price target on shares of Cytokinetics to $13.00 and set an “overweight” rating for the company in a research note on Monday, June 18th. HC Wainwright boosted their price target on shares of Cytokinetics to $24.00 and gave the stock a “buy” rating in a research note on Monday, June 18th. Cantor Fitzgerald reissued a “hold” rating and set a $10.00 price target on shares of Cytokinetics in a research note on Sunday, June 17th. BidaskClub raised shares of Cytokinetics from a “hold” rating to a “buy” rating in a research note on Saturday, July 7th. Finally, Zacks Investment Research raised shares of Cytokinetics from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Saturday, July 14th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $14.00.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC grew its holdings in Cytokinetics by 351.9% during the second quarter. Millennium Management LLC now owns 461,733 shares of the biopharmaceutical company’s stock valued at $3,832,000 after purchasing an additional 359,561 shares during the period. DRW Securities LLC grew its holdings in Cytokinetics by 91.4% during the second quarter. DRW Securities LLC now owns 26,797 shares of the biopharmaceutical company’s stock valued at $222,000 after purchasing an additional 12,797 shares during the period. DAFNA Capital Management LLC acquired a new position in Cytokinetics during the second quarter valued at approximately $576,000. ClariVest Asset Management LLC grew its holdings in Cytokinetics by 48.9% during the second quarter. ClariVest Asset Management LLC now owns 125,050 shares of the biopharmaceutical company’s stock valued at $1,037,000 after purchasing an additional 41,076 shares during the period. Finally, BlackRock Inc. grew its holdings in Cytokinetics by 9.5% during the second quarter. BlackRock Inc. now owns 7,943,794 shares of the biopharmaceutical company’s stock valued at $65,934,000 after purchasing an additional 686,537 shares during the period. Hedge funds and other institutional investors own 69.24% of the company’s stock.

Cytokinetics Company Profile

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

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