Cytokinetics (NASDAQ:CYTK) Director John Henderson Sells 8,750 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director John Henderson sold 8,750 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $63.90, for a total transaction of $559,125.00. Following the completion of the sale, the director owned 74,578 shares of the company’s stock, valued at $4,765,534.20. This trade represents a 10.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Cytokinetics Trading Down 3.8%

Shares of NASDAQ:CYTK opened at $63.51 on Wednesday. The company has a market capitalization of $7.76 billion, a price-to-earnings ratio of -10.10 and a beta of 0.58. Cytokinetics, Incorporated has a 12 month low of $29.31 and a 12 month high of $69.33. The firm’s 50-day moving average is $60.92 and its 200 day moving average is $45.75.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.59) by $0.05. The firm had revenue of $1.94 million during the quarter, compared to the consensus estimate of $6.05 million. During the same period in the previous year, the business earned ($1.36) EPS. The firm’s revenue for the quarter was up 318.1% on a year-over-year basis. As a group, equities analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Cytokinetics

Institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Cytokinetics by 723.7% in the second quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 673 shares in the last quarter. Quarry LP bought a new position in Cytokinetics during the 3rd quarter worth about $30,000. Advisory Services Network LLC purchased a new position in Cytokinetics during the 3rd quarter valued at about $32,000. Johnson Financial Group Inc. bought a new stake in shares of Cytokinetics in the 3rd quarter valued at about $40,000. Finally, Hantz Financial Services Inc. lifted its position in shares of Cytokinetics by 2,872.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 1,264 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wall Street Zen lowered Cytokinetics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Needham & Company LLC reiterated a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research report on Tuesday, September 2nd. Citigroup boosted their target price on shares of Cytokinetics from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research note on Monday, September 29th. Finally, Bank of America lifted their price objective on shares of Cytokinetics from $52.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, October 2nd. Thirteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.29.

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.