Cytokinetics (NASDAQ:CYTK) Stock Price Up 4.9% - Still a Buy?

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report)'s share price traded up 4.9% during trading on Friday . The stock traded as high as $44.71 and last traded at $45.20. 314,826 shares were traded during trading, a decline of 78% from the average session volume of 1,460,626 shares. The stock had previously closed at $43.10.

Analyst Ratings Changes

A number of analysts recently issued reports on CYTK shares. Stifel Nicolaus began coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They issued a "buy" rating and a $80.00 price target for the company. Morgan Stanley set a $67.00 target price on shares of Cytokinetics in a research report on Friday, March 7th. JMP Securities reaffirmed a "market outperform" rating and set a $78.00 price target on shares of Cytokinetics in a research report on Friday, February 7th. Citigroup assumed coverage on Cytokinetics in a report on Friday, February 7th. They issued a "buy" rating and a $86.00 price objective for the company. Finally, HC Wainwright reaffirmed a "buy" rating and set a $120.00 target price on shares of Cytokinetics in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $82.00.

Cytokinetics Stock Down 4.3 %

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 firm's 50-day moving average price is $45.95 and its 200 day moving average price is $49.76. The firm has a market cap of $5.28 billion, a P/E ratio of -8.28 and a beta of 0.95.

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Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) 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 the consensus estimate of $14.26 million. As a group, research analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Insider Activity at Cytokinetics

In other news, CEO Robert I. Blum sold 12,648 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $44.38, for a total transaction of $561,318.24. Following the transaction, the chief executive officer now directly owns 326,533 shares of the company's stock, valued at approximately $14,491,534.54. This trade represents a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew Callos sold 3,341 shares of Cytokinetics stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $43.27, for a total transaction of $144,565.07. Following the sale, the executive vice president now owns 64,434 shares in the company, valued at approximately $2,788,059.18. This represents a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,834 shares of company stock worth $1,949,275 in the last three months. 3.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp lifted its position 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 purchasing an additional 374 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Cytokinetics in the fourth quarter valued at $29,000. AlphaQuest LLC boosted its stake in Cytokinetics by 113,500.0% during the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock valued at $53,000 after buying an additional 1,135 shares in the last quarter. J.Safra Asset Management Corp grew its holdings in Cytokinetics by 62.1% during the fourth quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company's stock worth $83,000 after acquiring an additional 671 shares during the period. Finally, Blue Trust Inc. raised its position 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 acquiring an additional 842 shares in the last quarter.

About Cytokinetics

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.