Cytokinetics, Incorporated (NASDAQ:CYTK) Director John T. Henderson Sells 10,562 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director John T. Henderson sold 10,562 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $64.54, for a total value of $681,671.48. Following the sale, the director now owns 32,070 shares of the company’s stock, valued at approximately $2,069,797.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Cytokinetics Stock Down 3.0 %

Shares of CYTK opened at $64.80 on Friday. The business’s 50 day moving average is $70.14 and its two-hundred day moving average is $59.58. Cytokinetics, Incorporated has a 52-week low of $25.98 and a 52-week high of $110.25. The firm has a market cap of $6.78 billion, a price-to-earnings ratio of -11.89 and a beta of 0.68.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.35). The business had revenue of $1.70 million during the quarter, compared to the consensus estimate of $7.62 million. During the same quarter last year, the firm posted ($1.45) earnings per share. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. On average, equities analysts expect that Cytokinetics, Incorporated will post -4.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CYTK shares. UBS Group cut Cytokinetics from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $61.00 to $92.00 in a report on Wednesday, January 24th. Oppenheimer reiterated an “outperform” rating and set a $107.00 target price on shares of Cytokinetics in a report on Monday, March 4th. Raymond James boosted their target price on Cytokinetics from $63.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, December 28th. Needham & Company LLC reissued a “buy” rating and set a $108.00 price target on shares of Cytokinetics in a research report on Tuesday, April 9th. Finally, Mizuho reduced their price target on Cytokinetics from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cytokinetics has a consensus rating of “Moderate Buy” and a consensus price target of $79.33.

Hedge Funds Weigh In On Cytokinetics

Institutional investors have recently made changes to their positions in the business. Fifth Third Bancorp raised its position in shares of Cytokinetics by 94.1% in the 1st quarter. Fifth Third Bancorp now owns 656 shares of the biopharmaceutical company’s stock valued at $46,000 after purchasing an additional 318 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Cytokinetics by 96.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,463 shares of the biopharmaceutical company’s stock valued at $73,000 after acquiring an additional 1,209 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Cytokinetics during the 4th quarter valued at approximately $80,000. Sage Rhino Capital LLC acquired a new stake in shares of Cytokinetics during the 4th quarter valued at approximately $204,000. Finally, Caprock Group LLC acquired a new stake in shares of Cytokinetics during the 4th quarter valued at approximately $216,000.

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.