Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) hit a new 52-week low on Monday . The company traded as low as $34.68 and last traded at $36.33, with a volume of 487312 shares changing hands. The stock had previously closed at $37.36.
Analyst Ratings Changes
A number of brokerages have recently commented on CYTK. JMP Securities reissued a "market outperform" rating and issued a $78.00 price target on shares of Cytokinetics in a research report on Thursday. Stifel Nicolaus assumed coverage on Cytokinetics in a report on Wednesday, January 22nd. They issued a "buy" rating and a $80.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and issued a $72.00 target price on shares of Cytokinetics in a research note on Tuesday. HC Wainwright reaffirmed a "buy" rating and issued a $120.00 price target on shares of Cytokinetics in a research report on Friday, April 4th. Finally, Evercore ISI raised shares of Cytokinetics to a "strong-buy" rating in a research report on Friday, February 7th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cytokinetics currently has an average rating of "Moderate Buy" and a consensus price target of $82.00.
Check Out Our Latest Report on CYTK
Cytokinetics Trading Up 2.1 %
The stock has a market capitalization of $4.58 billion, a PE ratio of -7.18 and a beta of 0.94. 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 stock has a 50 day moving average price of $43.17 and a 200-day moving average price of $48.18.
Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.29) by $0.03. The firm had revenue of $16.93 million during the quarter, compared to analysts' expectations of $14.26 million. Sell-side analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.
Insider Activity at Cytokinetics
In related news, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $45.92, for a total transaction of $91,840.00. Following the transaction, the executive vice president now directly owns 116,071 shares in the company, valued at approximately $5,329,980.32. The trade was a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert I. Blum sold 16,970 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $43.44, for a total value of $737,176.80. Following the completion of the sale, the chief executive officer now owns 364,181 shares of the company's stock, valued at approximately $15,820,022.64. The trade was a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,170 shares of company stock worth $2,766,739. 3.40% of the stock is owned by company insiders.
Hedge Funds Weigh In On Cytokinetics
Large investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its position in shares of Cytokinetics by 189.8% in the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 374 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in Cytokinetics during the 4th quarter valued at approximately $29,000. Parallel Advisors LLC lifted its holdings in Cytokinetics by 500.5% in the 1st quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company's stock worth $44,000 after purchasing an additional 916 shares in the last quarter. AlphaQuest LLC boosted its stake in Cytokinetics by 113,500.0% in the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 1,135 shares during the period. Finally, J.Safra Asset Management Corp grew its holdings in Cytokinetics by 62.1% during the 4th quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company's stock valued at $83,000 after buying an additional 671 shares in the last quarter.
About Cytokinetics
(
Get Free Report)
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.
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