Cytokinetics (NASDAQ:CYTK) Sets New 1-Year Low - Time to Sell?

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report)'s share price reached a new 52-week low during trading on Friday . The company traded as low as $45.17 and last traded at $45.47, with a volume of 328043 shares traded. The stock had previously closed at $47.37.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Royal Bank of Canada raised their price objective on Cytokinetics from $80.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, December 18th. HC Wainwright reiterated a "buy" rating on shares of Cytokinetics in a report on Friday. Needham & Company LLC reiterated a "buy" rating and set a $72.00 target price on shares of Cytokinetics in a report on Monday, December 2nd. Cantor Fitzgerald reiterated an "overweight" rating on shares of Cytokinetics in a report on Friday, October 18th. Finally, Mizuho raised their target price on Cytokinetics from $99.00 to $103.00 and gave the company an "outperform" rating in a report on Thursday, November 21st. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $83.64.

Cytokinetics Trading Down 1.6 %

The company has a market cap of $5.50 billion, a price-to-earnings ratio of -8.67 and a beta of 0.82. The firm has a 50-day moving average price of $50.53 and a 200 day moving average price of $53.52. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The firm had revenue of $0.46 million during the quarter, compared to the consensus estimate of $1.21 million. The company's quarterly revenue was up 22.5% on a year-over-year basis. During the same period last year, the firm posted ($1.35) EPS. As a group, sell-side analysts forecast that Cytokinetics, Incorporated will post -5.25 EPS for the current year.

Insider Buying and Selling

In other Cytokinetics news, Director John T. Henderson sold 1,780 shares of the business's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $50.42, for a total transaction of $89,747.60. Following the completion of the transaction, the director now owns 38,461 shares in the company, valued at approximately $1,939,203.62. The trade was a 4.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Fady Ibraham Malik sold 7,300 shares of the business's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $54.19, for a total value of $395,587.00. Following the transaction, the executive vice president now owns 116,920 shares of the company's stock, valued at $6,335,894.80. This trade represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,516 shares of company stock valued at $3,103,023. Insiders own 3.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CYTK. Darwin Global Management Ltd. acquired a new position in Cytokinetics during the 2nd quarter worth $246,074,000. Integral Health Asset Management LLC boosted its position in Cytokinetics by 122.2% during the 2nd quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company's stock worth $54,180,000 after acquiring an additional 550,000 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Cytokinetics by 42.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company's stock worth $69,769,000 after acquiring an additional 395,709 shares during the period. Westfield Capital Management Co. LP boosted its position in Cytokinetics by 38.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company's stock worth $64,040,000 after acquiring an additional 339,373 shares during the period. Finally, Checkpoint Capital L.P. boosted its position in Cytokinetics by 145.7% during the 3rd quarter. Checkpoint Capital L.P. now owns 466,813 shares of the biopharmaceutical company's stock worth $24,648,000 after acquiring an additional 276,813 shares during the period.

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.