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

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

Cytokinetics Stock Performance

Shares of CYTK traded down $2.02 during midday trading on Thursday, hitting $64.80. The company had a trading volume of 1,112,285 shares, compared to its average volume of 2,924,911. Cytokinetics, Incorporated has a 1 year low of $25.98 and a 1 year high of $110.25. The company’s 50-day simple moving average is $70.14 and its 200-day simple moving average is $59.58. The firm has a market capitalization of $6.78 billion, a P/E ratio of -11.89 and a beta of 0.68.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) 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. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.45) earnings per share. Equities analysts predict that Cytokinetics, Incorporated will post -4.5 earnings per share for the current fiscal year.

Institutional Trading of Cytokinetics

Large investors have recently modified their holdings of the business. Maryland State Retirement & Pension System grew its holdings in Cytokinetics by 0.8% during the 4th quarter. Maryland State Retirement & Pension System now owns 35,637 shares of the biopharmaceutical company’s stock valued at $2,975,000 after buying an additional 278 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Cytokinetics by 9.6% during the fourth quarter. Quadrant Capital Group LLC now owns 3,268 shares of the biopharmaceutical company’s stock valued at $273,000 after buying an additional 287 shares during the period. Fifth Third Bancorp boosted its position in Cytokinetics by 94.1% during the first quarter. Fifth Third Bancorp now owns 656 shares of the biopharmaceutical company’s stock worth $46,000 after acquiring an additional 318 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in Cytokinetics by 2.0% in the 4th quarter. Mutual of America Capital Management LLC now owns 17,162 shares of the biopharmaceutical company’s stock valued at $1,433,000 after acquiring an additional 337 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Cytokinetics by 4.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,373 shares of the biopharmaceutical company’s stock worth $217,000 after purchasing an additional 340 shares during the period.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CYTK. HC Wainwright reaffirmed a “buy” rating and set a $94.00 price objective on shares of Cytokinetics in a research report on Wednesday, February 28th. Mizuho cut their target price on shares of Cytokinetics from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, March 6th. UBS Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and upped their price objective for the company from $61.00 to $92.00 in a research report on Wednesday, January 24th. Needham & Company LLC reiterated a “buy” rating and set a $108.00 price target on shares of Cytokinetics in a report on Tuesday, April 9th. Finally, Raymond James boosted their target price on Cytokinetics from $63.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, December 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.33.

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.