Cytokinetics (NASDAQ:CYTK) Director Edward Md Kaye Sells 5,175 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director Edward Md Kaye sold 5,175 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $65.08, for a total value of $336,789.00. Following the completion of the sale, the director owned 9,977 shares in the company, valued at $649,303.16. This represents a 34.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Cytokinetics Trading Down 0.8%

Shares of NASDAQ CYTK opened at $65.94 on Thursday. The company has a market capitalization of $8.06 billion, a P/E ratio of -12.93 and a beta of 0.58. Cytokinetics, Incorporated has a 12 month low of $29.31 and a 12 month high of $66.98. The stock has a 50 day moving average of $56.46 and a 200-day moving average of $42.63.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.59) by $0.05. The business had revenue of $1.94 million for the quarter, compared to analyst estimates of $6.05 million. During the same period in the prior year, the business earned ($1.36) EPS. The company’s revenue for the quarter was up 318.1% compared to the same quarter last year. Analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Cytokinetics

Hedge funds have recently bought and sold shares of the company. Aberdeen Group plc lifted its stake in Cytokinetics by 53.2% in the 2nd quarter. Aberdeen Group plc now owns 922,929 shares of the biopharmaceutical company’s stock valued at $30,494,000 after purchasing an additional 320,508 shares during the last quarter. Zweig DiMenna Associates LLC acquired a new position in shares of Cytokinetics during the second quarter worth $1,176,000. Mirador Capital Partners LP increased its holdings in shares of Cytokinetics by 45.6% during the second quarter. Mirador Capital Partners LP now owns 144,347 shares of the biopharmaceutical company’s stock worth $4,769,000 after buying an additional 45,222 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of Cytokinetics by 50.6% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 61,783 shares of the biopharmaceutical company’s stock valued at $2,041,000 after acquiring an additional 20,751 shares during the last quarter. Finally, United Services Automobile Association acquired a new stake in shares of Cytokinetics during the 1st quarter valued at $331,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Barclays upped their price target on shares of Cytokinetics from $71.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Citigroup increased their target price on Cytokinetics from $77.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. JMP Securities restated a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research note on Tuesday, September 2nd. Bank of America increased their price objective on Cytokinetics from $52.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, October 2nd. Finally, Evercore ISI lifted their target price on Cytokinetics from $60.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, September 3rd. Thirteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.86.

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.