Cytokinetics (NASDAQ:CYTK) Shares Gap Down - What's Next?

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $47.45, but opened at $44.36. Cytokinetics shares last traded at $46.11, with a volume of 171,756 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CYTK shares. HC Wainwright reaffirmed a "buy" rating and set a $120.00 price objective on shares of Cytokinetics in a research report on Friday. Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Thursday, February 6th. Evercore ISI raised shares of Cytokinetics to a "strong-buy" rating in a research report on Friday, February 7th. Royal Bank of Canada lifted their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the company an "outperform" rating in a research report on Wednesday, December 18th. Finally, Mizuho lifted their price target on shares of Cytokinetics from $99.00 to $103.00 and gave the company an "outperform" rating in a research report on Thursday, November 21st. Two research 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 stock. According to MarketBeat, Cytokinetics presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.00.

Cytokinetics Stock Up 1.9 %

The company has a market capitalization of $5.16 billion, a P/E ratio of -8.12 and a beta of 0.83. 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 stock has a 50 day moving average price of $47.00 and a 200 day moving average price of $51.03.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, topping analysts' consensus estimates of ($1.29) by $0.03. The business had revenue of $16.93 million for the quarter, compared to the consensus estimate of $14.26 million. Equities research analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Insider Activity at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 2,000 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $45.98, for a total transaction of $91,960.00. Following the completion of the transaction, the executive vice president now owns 116,071 shares of the company's stock, valued at approximately $5,336,944.58. The trade was a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wendall Wierenga sold 742 shares of the business's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $48.61, for a total value of $36,068.62. Following the transaction, the director now directly owns 24,559 shares of the company's stock, valued at $1,193,812.99. The trade was a 2.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,822 shares of company stock worth $874,048. Company insiders own 3.40% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CYTK. Jones Financial Companies Lllp boosted its stake in Cytokinetics by 189.8% in the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 374 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Cytokinetics in the fourth quarter worth approximately $29,000. AlphaQuest LLC boosted its stake in Cytokinetics by 113,500.0% in the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock worth $53,000 after buying an additional 1,135 shares in the last quarter. J.Safra Asset Management Corp boosted its stake in Cytokinetics by 62.1% in the fourth quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company's stock worth $83,000 after buying an additional 671 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Cytokinetics by 85.8% in the fourth quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company's stock worth $86,000 after buying an additional 842 shares in 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.