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

NASDAQ CYTK traded down $0.20 during midday trading on Friday, hitting $7.85. 189,225 shares of the company traded hands, compared to its average volume of 218,209. The company has a current ratio of 8.95, a quick ratio of 8.95 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $439.76 million, a PE ratio of -3.03 and a beta of 1.31. Cytokinetics, Inc. has a 52 week low of $6.20 and a 52 week high of $15.95.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of Cytokinetics by 9.5% during the 2nd 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 last quarter. Wasatch Advisors Inc. lifted its holdings in shares of Cytokinetics by 3.9% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,830,049 shares of the biopharmaceutical company’s stock valued at $15,189,000 after purchasing an additional 68,167 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in shares of Cytokinetics by 1.2% during the 1st quarter. Pinnacle Associates Ltd. now owns 888,415 shares of the biopharmaceutical company’s stock valued at $6,397,000 after purchasing an additional 10,840 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Cytokinetics by 351.9% during the 2nd 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 last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Cytokinetics by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 397,603 shares of the biopharmaceutical company’s stock valued at $2,863,000 after purchasing an additional 9,786 shares during the last quarter. 69.24% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently issued reports on the company. BidaskClub raised Cytokinetics from a “hold” rating to a “buy” rating in a research note on Saturday. ValuEngine raised Cytokinetics from a “sell” rating to a “hold” rating in a research note on Thursday, August 23rd. Morgan Stanley cut Cytokinetics from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $18.00 to $9.00 in a research note on Wednesday, August 1st. HC Wainwright set a $24.00 price objective on Cytokinetics and gave the stock a “buy” rating in a research note on Friday, July 27th. Finally, Zacks Investment Research cut Cytokinetics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $14.00.

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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