Cytokinetics (NASDAQ:CYTK) Stock Price Down 8.5% - What's Next?

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report)'s stock price fell 8.5% during mid-day trading on Thursday . The company traded as low as $46.37 and last traded at $46.11. 271,138 shares were traded during mid-day trading, a decline of 76% from the average session volume of 1,119,671 shares. The stock had previously closed at $50.41.

Analyst Ratings Changes

A number of brokerages recently weighed in on CYTK. Mizuho upped their price objective on Cytokinetics from $99.00 to $103.00 and gave the stock an "outperform" rating in a research note on Thursday, November 21st. Needham & Company LLC reaffirmed a "buy" rating and issued a $72.00 price objective on shares of Cytokinetics in a research report on Thursday. Royal Bank of Canada raised their target price on Cytokinetics from $80.00 to $82.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 18th. JMP Securities reiterated a "market outperform" rating and issued a $78.00 price objective on shares of Cytokinetics in a research note on Friday. Finally, Citigroup started coverage on Cytokinetics in a report on Friday. They issued a "buy" rating and a $86.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $83.00.

Cytokinetics Trading Down 1.3 %

The stock has a market capitalization of $4.98 billion, a PE ratio of -7.85 and a beta of 0.83. The company's 50 day moving average price is $48.32 and its two-hundred day moving average price is $52.34. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28.

Insiders Place Their Bets

In other Cytokinetics news, Director John T. Henderson sold 1,780 shares of the firm's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $50.42, for a total value of $89,747.60. Following the completion of the sale, the director now directly owns 38,461 shares of the company's stock, valued at $1,939,203.62. This trade represents a 4.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Fady Ibraham Malik sold 6,342 shares of the business's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $58.48, for a total transaction of $370,880.16. Following the transaction, the executive vice president now directly owns 113,878 shares in the company, valued at approximately $6,659,585.44. The trade was a 5.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,464 shares of company stock valued at $2,025,686 in the last ninety days. 3.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cytokinetics

A number of institutional investors have recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ lifted its holdings in Cytokinetics by 16.9% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 182,126 shares of the biopharmaceutical company's stock valued at $8,585,000 after acquiring an additional 26,332 shares during the last quarter. Swiss National Bank boosted its stake in Cytokinetics by 2.0% during the fourth quarter. Swiss National Bank now owns 219,800 shares of the biopharmaceutical company's stock worth $10,339,000 after buying an additional 4,300 shares during the period. Great Lakes Advisors LLC acquired a new stake in shares of Cytokinetics during the fourth quarter valued at about $1,580,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Cytokinetics by 7.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,258 shares of the biopharmaceutical company's stock valued at $1,329,000 after acquiring an additional 1,882 shares during the period. Finally, AlphaQuest LLC lifted its holdings in shares of 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 acquiring an additional 1,135 shares during the last quarter.

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.