Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) rose 5.4% during trading on Friday . The stock traded as high as $13.65 and last traded at $13.60. Approximately 670,702 shares were traded during trading, an increase of 55% from the average daily volume of 433,057 shares. The stock had previously closed at $12.90.
CYTK has been the subject of several analyst reports. Zacks Investment Research raised shares of Cytokinetics, from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Monday, August 7th. Cowen and Company reissued a “buy” rating and set a $19.00 price target on shares of Cytokinetics, in a research report on Friday, August 4th. HC Wainwright set a $26.00 price target on shares of Cytokinetics, and gave the company a “buy” rating in a research report on Thursday, August 3rd. BidaskClub raised shares of Cytokinetics, from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $21.00 price target on shares of Cytokinetics, in a research report on Monday, September 18th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $21.60.
The company has a quick ratio of 10.21, a current ratio of 7.60 and a debt-to-equity ratio of 0.14.
Cytokinetics, (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported ($0.60) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.64) by $0.04. The firm had revenue of $6.18 million during the quarter, compared to analyst estimates of $5.35 million. Cytokinetics, had a negative net margin of 172.27% and a negative return on equity of 62.64%. analysts expect that Cytokinetics, Incorporated will post -2.39 earnings per share for the current year.
In related news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $14.71, for a total value of $73,550.00. Following the transaction, the chief executive officer now owns 79,785 shares in the company, valued at approximately $1,173,637.35. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Caryn Gordon Mcdowell sold 11,348 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $12.47, for a total transaction of $141,509.56. Following the completion of the transaction, the insider now owns 21,570 shares in the company, valued at approximately $268,977.90. The disclosure for this sale can be found here. Insiders sold a total of 185,311 shares of company stock valued at $2,725,624 over the last ninety days. 7.20% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA increased its holdings in Cytokinetics, by 86.2% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 24,815 shares of the biopharmaceutical company’s stock worth $360,000 after buying an additional 11,487 shares during the period. Swiss National Bank increased its holdings in Cytokinetics, by 13.2% in the 3rd quarter. Swiss National Bank now owns 65,200 shares of the biopharmaceutical company’s stock worth $945,000 after buying an additional 7,600 shares during the period. Principal Financial Group Inc. increased its holdings in Cytokinetics, by 6.7% in the 3rd quarter. Principal Financial Group Inc. now owns 456,137 shares of the biopharmaceutical company’s stock worth $6,614,000 after buying an additional 28,708 shares during the period. Birchview Capital LP acquired a new position in Cytokinetics, in the 3rd quarter worth approximately $145,000. Finally, Prudential Financial Inc. increased its holdings in Cytokinetics, by 8.1% in the 3rd quarter. Prudential Financial Inc. now owns 81,550 shares of the biopharmaceutical company’s stock worth $1,182,000 after buying an additional 6,115 shares during the period. Institutional investors own 70.94% of the company’s stock.
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Cytokinetics, Incorporated is a late-stage biopharmaceutical company. The Company is focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions.
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