Cytokinetics, Inc. (NASDAQ:CYTK) shares rose 6.2% on Friday . The stock traded as high as $13.28 and last traded at $13.26, approximately 444,436 shares traded hands during trading. A decline of 14% from the average daily volume of 517,281 shares. The stock had previously closed at $12.49.
CYTK has been the topic of several recent research reports. Needham & Company LLC set a $16.00 target price on shares of Cytokinetics and gave the stock a “buy” rating in a research note on Friday, August 9th. Cantor Fitzgerald reissued a “buy” rating and issued a $14.00 price objective on shares of Cytokinetics in a research report on Friday, May 10th. HC Wainwright increased their price objective on shares of Cytokinetics from $21.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Morgan Stanley set a $16.00 price objective on shares of Cytokinetics and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, Piper Jaffray Companies set a $14.00 price objective on shares of Cytokinetics and gave the company a “buy” rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $16.00.
The stock’s 50-day simple moving average is $11.88 and its 200 day simple moving average is $9.55. The company has a debt-to-equity ratio of 12.35, a quick ratio of 7.09 and a current ratio of 8.42. The company has a market capitalization of $732.91 million, a PE ratio of -6.80 and a beta of 1.66.
Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.56) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.06). Cytokinetics had a negative net margin of 308.73% and a negative return on equity of 575.21%. The firm had revenue of $7.14 million during the quarter, compared to analysts’ expectations of $6.81 million. On average, analysts expect that Cytokinetics, Inc. will post -1.96 earnings per share for the current year.
In other news, CEO Robert I. Blum sold 6,000 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $10.94, for a total value of $65,640.00. Following the completion of the transaction, the chief executive officer now owns 256,022 shares in the company, valued at approximately $2,800,880.68. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last three months, insiders sold 22,500 shares of company stock worth $252,375. Insiders own 5.70% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Nuveen Asset Management LLC acquired a new position in shares of Cytokinetics in the 2nd quarter valued at $2,203,000. Cubist Systematic Strategies LLC acquired a new position in shares of Cytokinetics in the 2nd quarter valued at $348,000. Point72 Asset Management L.P. acquired a new position in shares of Cytokinetics in the 2nd quarter valued at $6,829,000. Morgan Stanley boosted its holdings in shares of Cytokinetics by 220.0% in the 2nd quarter. Morgan Stanley now owns 286,236 shares of the biopharmaceutical company’s stock valued at $3,220,000 after buying an additional 196,786 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Cytokinetics by 10.6% in the 2nd quarter. Bank of America Corp DE now owns 73,606 shares of the biopharmaceutical company’s stock valued at $828,000 after buying an additional 7,030 shares in the last quarter. Institutional investors and hedge funds own 69.44% of the company’s stock.
Cytokinetics Company Profile (NASDAQ:CYTK)
Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. The company is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.
Further Reading: How much money do you need to begin day trading?
Receive News & Ratings for Cytokinetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cytokinetics and related companies with MarketBeat.com's FREE daily email newsletter.