Cytokinetics (NASDAQ:CYTK) Sets New 12-Month Low - Should You Sell?

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $44.25 and last traded at $44.58, with a volume of 518898 shares changing hands. The stock had previously closed at $46.17.

Analyst Ratings Changes

Several brokerages have issued reports on CYTK. JMP Securities reissued a "market outperform" rating and issued a $78.00 price target on shares of Cytokinetics in a report on Friday. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Cytokinetics in a report on Friday, October 18th. Stifel Nicolaus started coverage on shares of Cytokinetics in a report on Wednesday, January 22nd. They issued a "buy" rating and a $80.00 target price on the stock. Evercore ISI raised shares of Cytokinetics to a "strong-buy" rating in a report on Friday. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $120.00 target price on shares of Cytokinetics in a report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $83.00.

Cytokinetics Trading Down 1.3 %

The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of -7.74 and a beta of 0.83. The business's 50-day simple moving average is $48.15 and its 200-day simple moving average is $52.23.

Insider Buying and Selling at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $48.06, for a total transaction of $96,120.00. Following the completion of the transaction, the executive vice president now directly owns 116,071 shares of the company's stock, valued at $5,578,372.26. This trade represents a 1.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of the firm's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $50.76, for a total transaction of $253,800.00. Following the completion of the transaction, the chief executive officer now directly owns 397,678 shares of the company's stock, valued at $20,186,135.28. This represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,122 shares of company stock worth $1,654,806. Company insiders own 3.40% of the company's stock.

Hedge Funds Weigh In On Cytokinetics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in Cytokinetics by 189.8% during the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 374 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of Cytokinetics in the fourth quarter valued at about $29,000. UMB Bank n.a. boosted its position 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 acquiring an additional 238 shares during the period. Blue Trust Inc. boosted its position in shares of Cytokinetics by 225.9% in the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company's stock valued at $53,000 after acquiring an additional 680 shares during the period. Finally, AlphaQuest LLC boosted its position in shares of Cytokinetics by 113,500.0% in the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock valued at $53,000 after acquiring an additional 1,135 shares during the period.

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.