Cytokinetics (NASDAQ:CYTK) CEO Robert I. Blum sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, July 5th. The shares were sold at an average price of $9.09, for a total value of $36,360.00. Following the completion of the sale, the chief executive officer now owns 172,022 shares in the company, valued at $1,563,679.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of Cytokinetics traded up $0.20, hitting $9.35, on Friday, according to Marketbeat Ratings. The company’s stock had a trading volume of 202,500 shares, compared to its average volume of 361,744. The company has a market capitalization of $493.20 million, a P/E ratio of -3.61 and a beta of 1.49. The company has a debt-to-equity ratio of 0.32, a current ratio of 7.07 and a quick ratio of 7.07. Cytokinetics has a fifty-two week low of $6.75 and a fifty-two week high of $15.95.
Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, April 26th. The biopharmaceutical company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.06). The firm had revenue of $5.27 million during the quarter, compared to analyst estimates of $5.50 million. sell-side analysts anticipate that Cytokinetics will post -1.97 EPS for the current fiscal year.
Several research firms have recently weighed in on CYTK. BidaskClub upgraded Cytokinetics from a “sell” rating to a “hold” rating in a research note on Saturday, April 28th. ValuEngine upgraded Cytokinetics from a “sell” rating to a “hold” rating in a research note on Friday, April 27th. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Cytokinetics in a research note on Friday, April 27th. Cantor Fitzgerald set a $10.00 price objective on Cytokinetics and gave the company a “hold” rating in a research note on Tuesday, April 24th. Finally, Piper Jaffray Companies lowered their price objective on Cytokinetics to $13.00 and set an “overweight” rating on the stock in a research note on Monday, June 18th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $15.56.
Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Cytokinetics by 5.7% in the 4th quarter. BlackRock Inc. now owns 7,239,394 shares of the biopharmaceutical company’s stock worth $59,001,000 after acquiring an additional 393,494 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Cytokinetics in the 4th quarter worth approximately $112,000. DRW Securities LLC acquired a new position in shares of Cytokinetics in the 1st quarter worth approximately $101,000. BVF Inc. IL boosted its holdings in shares of Cytokinetics by 361.1% in the 4th quarter. BVF Inc. IL now owns 5,721,888 shares of the biopharmaceutical company’s stock worth $46,633,000 after acquiring an additional 4,480,867 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Cytokinetics by 41.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 417,597 shares of the biopharmaceutical company’s stock worth $3,403,000 after acquiring an additional 123,031 shares in the last quarter. 68.01% of the stock is currently owned by institutional investors and hedge funds.
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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