Cytokinetics, Incorporated (NASDAQ:CYTK) Director John T. Henderson Sells 1,780 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) Director John T. Henderson sold 1,780 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $50.42, for a total value of $89,747.60. Following the sale, the director now directly owns 38,461 shares of the company’s stock, valued at $1,939,203.62. This represents a 4.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Cytokinetics Stock Down 1.4 %

Shares of NASDAQ:CYTK traded down $0.71 during midday trading on Thursday, reaching $49.99. 777,416 shares of the company were exchanged, compared to its average volume of 1,993,705. The firm has a market cap of $5.90 billion, a PE ratio of -9.42 and a beta of 0.80. Cytokinetics, Incorporated has a fifty-two week low of $32.70 and a fifty-two week high of $110.25. The stock has a fifty day simple moving average of $52.91 and a two-hundred day simple moving average of $54.03. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The business had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $1.21 million. Cytokinetics’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter last year, the company earned ($1.35) earnings per share. As a group, sell-side analysts forecast that Cytokinetics, Incorporated will post -5.25 earnings per share for the current year.

Institutional Investors Weigh In On Cytokinetics

Institutional investors have recently bought and sold shares of the company. J.Safra Asset Management Corp raised its holdings in shares of Cytokinetics by 642.3% in the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 456 shares during the last quarter. UMB Bank n.a. grew its position in Cytokinetics by 65.6% in the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 238 shares in the last quarter. Blue Trust Inc. increased its stake in Cytokinetics by 225.9% in the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 680 shares during the last quarter. Values First Advisors Inc. acquired a new stake in Cytokinetics in the 3rd quarter valued at $54,000. Finally, Quarry LP lifted its position in Cytokinetics by 233.3% during the 2nd quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock worth $108,000 after buying an additional 1,400 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CYTK shares. Royal Bank of Canada assumed coverage on shares of Cytokinetics in a report on Friday, November 8th. They issued an “outperform” rating and a $80.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research note on Monday, December 2nd. JPMorgan Chase & Co. lifted their price objective on Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. JMP Securities reissued a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research note on Wednesday, September 4th. Finally, Mizuho boosted their target price on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Cytokinetics Company Profile

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.