Shares of Cytokinetics, Inc. (NASDAQ:CYTK) have earned a consensus rating of “Buy” from the eleven analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $36.88.
CYTK has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Cytokinetics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 13th. HC Wainwright cut their price target on Cytokinetics from $59.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th. Raymond James assumed coverage on Cytokinetics in a research note on Friday, July 10th. They set a “strong-buy” rating and a $39.00 price objective for the company. Cantor Fitzgerald lifted their price objective on Cytokinetics from $41.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 6th. Finally, Needham & Company LLC increased their target price on Cytokinetics from $34.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th.
Shares of NASDAQ CYTK traded down $0.69 on Friday, hitting $15.70. The company had a trading volume of 10,766 shares, compared to its average volume of 1,112,656. Cytokinetics has a 12-month low of $7.72 and a 12-month high of $30.14. The firm has a market capitalization of $1.16 billion, a P/E ratio of -6.67 and a beta of 1.48. The business has a 50 day moving average of $20.94 and a two-hundred day moving average of $20.97.
In other Cytokinetics news, SVP Mark A. Schlossberg sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $23.07, for a total value of $230,700.00. Following the transaction, the senior vice president now owns 40,000 shares of the company’s stock, valued at $922,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Santo J. Costa sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $30.00, for a total transaction of $450,000.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $450,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 130,352 shares of company stock valued at $3,309,126. 6.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC increased its holdings in shares of Cytokinetics by 3.9% in the 1st quarter. FMR LLC now owns 1,926,824 shares of the biopharmaceutical company’s stock worth $15,589,000 after acquiring an additional 73,141 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of Cytokinetics by 21.5% during the first quarter. Parametric Portfolio Associates LLC now owns 122,613 shares of the biopharmaceutical company’s stock valued at $1,446,000 after purchasing an additional 21,680 shares in the last quarter. Legal & General Group Plc lifted its holdings in Cytokinetics by 0.6% in the first quarter. Legal & General Group Plc now owns 149,358 shares of the biopharmaceutical company’s stock worth $1,760,000 after purchasing an additional 881 shares during the period. Thrivent Financial for Lutherans grew its position in Cytokinetics by 5.3% in the 1st quarter. Thrivent Financial for Lutherans now owns 49,516 shares of the biopharmaceutical company’s stock valued at $584,000 after buying an additional 2,472 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Cytokinetics by 7.1% during the 1st quarter. AQR Capital Management LLC now owns 21,659 shares of the biopharmaceutical company’s stock valued at $255,000 after buying an additional 1,443 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.
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 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.
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