Cytokinetics, Incorporated (NASDAQ:CYTK – Get Free Report) saw unusually large options trading activity on Thursday. Investors bought 15,262 call options on the stock. This is an increase of 1,048% compared to the average volume of 1,329 call options.
Analysts Set New Price Targets
CYTK has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytokinetics in a research report on Thursday, October 15th. Citizens Jmp increased their target price on Cytokinetics from $105.00 to $110.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th. Leerink Partners cut their price objective on shares of Cytokinetics from $103.00 to $100.00 and set an “outperform” rating for the company in a research report on Thursday, November 5th. Truist Financial increased their price objective on shares of Cytokinetics from $106.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, Barclays raised their target price on shares of Cytokinetics from $95.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Nineteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.67.
Get Our Latest Stock Report on Cytokinetics
Cytokinetics Price Performance
Shares of CYTK opened at $56.13 on Friday. The firm has a 50 day simple moving average of $64.11 and a two-hundred day simple moving average of $69.78. Cytokinetics has a one year low of $53.55 and a one year high of $88.31. The company has a market cap of $7.82 billion, a P/E ratio of -9.29 and a beta of 0.45.
Cytokinetics (NASDAQ:CYTK – Get Free Report) last issued its earnings results on Wednesday, November 4th. The biopharmaceutical company reported ($1.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.06. The business had revenue of $47.56 million during the quarter, compared to analyst estimates of $41.88 million. During the same period in the prior year, the business posted ($2.55) EPS. The company’s revenue for the quarter was up 2356.5% compared to the same quarter last year. On average, analysts expect that Cytokinetics will post -5.85 earnings per share for the current fiscal year.
Insider Buying and Selling at Cytokinetics
In other news, CEO Robert I. Blum sold 97,926 shares of Cytokinetics stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $69.33, for a total value of $6,789,209.58. Following the completion of the sale, the chief executive officer directly owned 385,320 shares in the company, valued at approximately $26,714,235.60. The trade was a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director B. Parshall sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $71.48, for a total value of $357,400.00. Following the completion of the sale, the director owned 10,784 shares of the company’s stock, valued at approximately $770,840.32. This trade represents a 31.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 178,426 shares of company stock valued at $12,208,290 over the last ninety days. Company insiders own 2.60% of the company’s stock.
Institutional Trading of Cytokinetics
Institutional investors and hedge funds have recently modified their holdings of the business. Bleakley Financial Group LLC bought a new position in Cytokinetics in the third quarter valued at about $700,000. First Trust Advisors LP lifted its holdings in shares of Cytokinetics by 7.5% in the third quarter. First Trust Advisors LP now owns 126,957 shares of the biopharmaceutical company’s stock worth $8,368,000 after acquiring an additional 8,808 shares during the last quarter. GW&K Investment Management LLC lifted its holdings in shares of Cytokinetics by 11.1% in the third quarter. GW&K Investment Management LLC now owns 1,017,714 shares of the biopharmaceutical company’s stock worth $67,078,000 after acquiring an additional 101,607 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Cytokinetics by 27.5% in the third quarter. Private Advisor Group LLC now owns 9,233 shares of the biopharmaceutical company’s stock worth $609,000 after acquiring an additional 1,991 shares during the last quarter. Finally, Voya Investment Management LLC boosted its stake in shares of Cytokinetics by 26.7% in the 3rd quarter. Voya Investment Management LLC now owns 467,096 shares of the biopharmaceutical company’s stock valued at $30,786,000 after purchasing an additional 98,398 shares in the last quarter.
Cytokinetics Company Profile
Cytokinetics is a biopharmaceutical company focused on discovering and developing medicines that target the biology of muscle function. Its research centers on therapies for conditions involving impaired cardiac muscle performance. The company’s work includes aficamten, a cardiac myosin inhibitor developed for hypertrophic cardiomyopathy, and other drug candidates designed to affect muscle contraction. Cytokinetics conducts research and clinical development through programs that may involve patients and collaborators in multiple countries.
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