Cytokinetics (CYTK) Stock Price Down 9.5%

Shares of Cytokinetics, Inc. (NASDAQ:CYTK) were down 9.5% on Thursday . The stock traded as low as $9.51 and last traded at $9.57. Approximately 517,586 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 552,935 shares. The stock had previously closed at $10.58.

Several analysts recently weighed in on CYTK shares. BidaskClub upgraded shares of Cytokinetics from a “hold” rating to a “buy” rating in a research report on Tuesday, March 26th. Zacks Investment Research upgraded shares of Cytokinetics from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Wednesday, April 24th. HC Wainwright set a $21.00 price objective on shares of Cytokinetics and gave the company a “buy” rating in a research report on Tuesday, April 23rd. ValuEngine upgraded shares of Cytokinetics from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $14.00 price objective on shares of Cytokinetics in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $14.60.

The company has a market cap of $552.39 million, a P/E ratio of -5.15 and a beta of 2.05. The company has a current ratio of 7.09, a quick ratio of 7.09 and a debt-to-equity ratio of 12.35.



Cytokinetics (NASDAQ:CYTK) last released its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.54) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by ($0.07). The company had revenue of $8.46 million for the quarter, compared to analyst estimates of $6.21 million. Cytokinetics had a negative net margin of 303.70% and a negative return on equity of 269.27%. As a group, research analysts anticipate that Cytokinetics, Inc. will post -1.85 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. Texas Permanent School Fund increased its stake in Cytokinetics by 3.8% during the 1st quarter. Texas Permanent School Fund now owns 37,148 shares of the biopharmaceutical company’s stock valued at $301,000 after buying an additional 1,346 shares during the period. The Manufacturers Life Insurance Company increased its stake in Cytokinetics by 4.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 31,401 shares of the biopharmaceutical company’s stock valued at $255,000 after buying an additional 1,412 shares during the period. Squarepoint Ops LLC increased its stake in Cytokinetics by 14.2% during the 4th quarter. Squarepoint Ops LLC now owns 11,600 shares of the biopharmaceutical company’s stock valued at $73,000 after buying an additional 1,438 shares during the period. State of Alaska Department of Revenue increased its stake in Cytokinetics by 9.4% during the 4th quarter. State of Alaska Department of Revenue now owns 18,233 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 1,564 shares during the period. Finally, State of Tennessee Treasury Department increased its stake in Cytokinetics by 5.2% during the 1st quarter. State of Tennessee Treasury Department now owns 34,831 shares of the biopharmaceutical company’s stock valued at $281,000 after buying an additional 1,723 shares during the period. 69.66% of the stock is currently owned by hedge funds and other institutional investors.

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About Cytokinetics (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.

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