Wendall Wierenga Sells 742 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director Wendall Wierenga sold 742 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $48.61, for a total transaction of $36,068.62. Following the sale, the director now owns 24,559 shares in the company, valued at $1,193,812.99. The trade was a 2.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Wendall Wierenga also recently made the following trade(s):

• On Monday, October 28th, Wendall Wierenga sold 4,452 shares of Cytokinetics stock. The stock was sold at an average price of $52.25, for a total transaction of $232,617.00.

Cytokinetics Trading Up 0.8 %

Shares of CYTK traded up $0.37 during mid-day trading on Monday, reaching $49.02. The company had a trading volume of 758,202 shares, compared to its average volume of 1,988,187. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of -9.11 and a beta of 0.80. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The firm has a fifty day simple moving average of $52.51 and a 200-day simple moving average of $54.09. Cytokinetics, Incorporated has a fifty-two week low of $32.70 and a fifty-two week high of $110.25.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The business had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $1.21 million. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.35) earnings per share. On average, sell-side analysts anticipate that Cytokinetics, Incorporated will post -5.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CYTK. UMB Bank n.a. grew its stake in shares of Cytokinetics by 65.6% in the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 238 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Cytokinetics by 225.9% during the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 680 shares during the period. Values First Advisors Inc. acquired a new position in shares of Cytokinetics during the third quarter worth $54,000. Quarry LP grew its holdings in Cytokinetics by 233.3% during the 2nd quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock valued at $108,000 after purchasing an additional 1,400 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in Cytokinetics during the 2nd quarter worth $190,000.

Analysts Set New Price Targets

Several brokerages have recently commented on CYTK. HC Wainwright reissued a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a research note on Monday, December 2nd. Needham & Company LLC reiterated a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research report on Monday, December 2nd. Royal Bank of Canada initiated coverage on Cytokinetics in a research report on Friday, November 8th. They issued an “outperform” rating and a $80.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

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.