Cytokinetics (NASDAQ:CYTK) EVP Sung Lee Sells 4,935 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sung Lee sold 4,935 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $62.15, for a total value of $306,710.25. Following the completion of the transaction, the executive vice president owned 87,127 shares of the company’s stock, valued at approximately $5,414,943.05. The trade was a 5.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cytokinetics Stock Up 0.1%

Shares of CYTK stock opened at $62.19 on Thursday. The business’s fifty day moving average is $63.80 and its 200 day moving average is $60.94. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of -9.52 and a beta of 0.56. Cytokinetics, Incorporated has a twelve month low of $29.31 and a twelve month high of $70.98.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) EPS for the quarter, missing the consensus estimate of ($1.48) by ($0.02). The business had revenue of $17.76 million during the quarter, compared to analyst estimates of $8.02 million. During the same period in the prior year, the company earned ($1.26) earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

More Cytokinetics News

Here are the key news stories impacting Cytokinetics this week:

• Positive Sentiment: JPMorgan raised its price target on CYTK from $74 to $75 and kept an overweight rating, providing additional analyst support for the stock. JPMorgan Boosts Cytokinetics Price Target to $75.00
• Positive Sentiment: Mizuho raised its price target to $100 and reiterated an outperform view, representing material upside vs. the current share price and likely attracting momentum buying. Mizuho Raises Price Target to $100
• Positive Sentiment: Barclays kept a buy rating on CYTK, which reinforces analyst demand-side support from multiple firms. Barclays Keeps Their Buy Rating on Cytokinetics
• Neutral Sentiment: Cytokinetics granted inducement awards (8,628 stock options and 5,719 RSUs) to five recent hires under Nasdaq Rule 5635(c)(4). This is standard hiring compensation; it could cause modest dilution over time but is aimed at talent acquisition. Cytokinetics Announces Inducement Grants
• Negative Sentiment: Several insiders sold sizable positions this week — including CEO Robert I. Blum (36,601 shares) and multiple EVPs — totaling multimillion?dollar transactions. Insider selling can create near?term selling pressure or be viewed as portfolio diversification; filings are available with the SEC. Form 4 — CEO Insider Sale

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Robert W. Baird set a $84.00 price objective on shares of Cytokinetics in a research note on Tuesday, March 10th. Royal Bank Of Canada lifted their target price on shares of Cytokinetics from $95.00 to $101.00 and gave the company an “outperform” rating in a report on Friday, February 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cytokinetics in a research report on Wednesday, January 21st. Leerink Partners restated an “outperform” rating on shares of Cytokinetics in a research note on Tuesday, March 10th. Finally, Barclays initiated coverage on Cytokinetics in a research note on Wednesday, January 28th. They set an “overweight” rating and a $87.00 price objective for the company. Seventeen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.89.

Institutional Trading of Cytokinetics

Several institutional investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. increased its holdings in shares of Cytokinetics by 842.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 641 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 573 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Cytokinetics by 46.4% during the fourth quarter. Corient Private Wealth LLC now owns 7,044 shares of the biopharmaceutical company’s stock valued at $447,000 after purchasing an additional 2,231 shares in the last quarter. Seven Fleet Capital Management LP purchased a new stake in shares of Cytokinetics during the fourth quarter valued at $657,000. Alpine Global Management LLC bought a new stake in Cytokinetics in the 4th quarter worth about $381,000. Finally, Pacer Advisors Inc. raised its position in Cytokinetics by 76.5% in the 4th quarter. Pacer Advisors Inc. now owns 27,783 shares of the biopharmaceutical company’s stock worth $1,765,000 after buying an additional 12,043 shares during the last quarter.

About Cytokinetics

Cytokinetics, Inc is a late?stage biopharmaceutical company focused on the discovery and development of novel small?molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.