Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report)'s stock price shot up 7.6% on Friday . The stock traded as high as $42.62 and last traded at $44.80. 810,292 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 1,402,997 shares. The stock had previously closed at $41.62.
Analyst Ratings Changes
CYTK has been the subject of a number of research reports. JMP Securities reaffirmed a "market outperform" rating and set a $78.00 target price on shares of Cytokinetics in a report on Friday, February 7th. HC Wainwright reaffirmed a "buy" rating and issued a $120.00 target price on shares of Cytokinetics in a report on Tuesday, January 21st. Royal Bank of Canada lifted their target price on Cytokinetics from $80.00 to $82.00 and gave the company an "outperform" rating in a research report on Wednesday, December 18th. Evercore ISI raised Cytokinetics to a "strong-buy" rating in a research note on Friday, February 7th. Finally, Citigroup started coverage on Cytokinetics in a research note on Friday, February 7th. They set a "buy" rating and a $86.00 price objective for the company. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cytokinetics has an average rating of "Moderate Buy" and an average price target of $82.00.
Check Out Our Latest Research Report on Cytokinetics
Cytokinetics Stock Performance
The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The business has a 50 day moving average of $47.43 and a 200 day moving average of $51.68. The company has a market capitalization of $5.41 billion, a P/E ratio of -8.53 and a beta of 0.83.
Insider Buying and Selling
In related news, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $50.76, for a total value of $253,800.00. Following the completion of the transaction, the chief executive officer now owns 397,678 shares in the company, valued at approximately $20,186,135.28. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Fady Ibraham Malik sold 7,300 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $50.16, for a total value of $366,168.00. Following the completion of the sale, the executive vice president now directly owns 111,878 shares of the company's stock, valued at $5,611,800.48. The trade was a 6.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,122 shares of company stock worth $1,402,056. Insiders own 3.40% of the company's stock.
Hedge Funds Weigh In On Cytokinetics
Large investors have recently modified their holdings of the stock. Jones Financial Companies Lllp boosted its stake 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 buying an additional 374 shares during the period. Centricity Wealth Management LLC purchased a new position in shares of Cytokinetics during the 4th quarter worth about $29,000. Blue Trust Inc. grew its holdings in Cytokinetics by 225.9% during the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 680 shares during the last quarter. AlphaQuest LLC raised its position 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, Values First Advisors Inc. bought a new stake in Cytokinetics in the third quarter worth about $54,000.
Cytokinetics Company Profile
(
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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