Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) Director Sells 4,452 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director Wendall Wierenga sold 4,452 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $52.25, for a total transaction of $232,617.00. Following the sale, the director now directly owns 24,559 shares in the company, valued at $1,283,207.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK traded down $0.31 during trading hours on Thursday, hitting $51.00. 989,437 shares of the company’s stock traded hands, compared to its average volume of 2,094,364. Cytokinetics, Incorporated has a 52 week low of $30.68 and a 52 week high of $110.25. The company has a debt-to-equity ratio of 5.93, a quick ratio of 10.39 and a current ratio of 10.39. The company’s fifty day simple moving average is $54.50 and its two-hundred day simple moving average is $56.23. The company has a market cap of $6.00 billion, a price-to-earnings ratio of -9.50 and a beta of 0.77.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The firm had revenue of $0.25 million for the quarter, compared to the consensus estimate of $7.61 million. During the same period last year, the business posted ($1.34) EPS. The company’s quarterly revenue was down 71.3% on a year-over-year basis. As a group, equities analysts anticipate that Cytokinetics, Incorporated will post -5.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CYTK. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Cytokinetics in the first quarter worth about $813,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Cytokinetics by 19.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,416 shares of the biopharmaceutical company’s stock worth $239,000 after buying an additional 558 shares during the period. State of Michigan Retirement System acquired a new position in shares of Cytokinetics in the first quarter worth about $1,690,000. Van ECK Associates Corp acquired a new position in shares of Cytokinetics in the first quarter worth about $4,059,000. Finally, Retirement Systems of Alabama acquired a new position in shares of Cytokinetics in the first quarter worth about $8,633,000.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Wednesday, September 4th. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a report on Thursday, October 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a report on Thursday, October 17th. Finally, The Goldman Sachs Group cut shares of Cytokinetics from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $85.00 to $60.00 in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

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. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.