Cytokinetics (NASDAQ:CYTK) Trading Up 10.3%

Shares of Cytokinetics, Inc. (NASDAQ:CYTK) were up 10.3% during trading on Tuesday . The stock traded as high as $9.34 and last traded at $9.25, approximately 2,424,700 shares changed hands during trading. An increase of 339% from the average daily volume of 552,468 shares. The stock had previously closed at $8.39.

Several analysts have recently commented on CYTK shares. BidaskClub lowered shares of Cytokinetics from a “hold” rating to a “sell” rating in a research report on Saturday, November 9th. ValuEngine lowered shares of Cytokinetics from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 price target (up previously from $14.00) on shares of Cytokinetics in a research report on Friday, September 6th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $20.00 price target (up previously from $14.00) on shares of Cytokinetics in a research report on Monday, September 16th. Finally, Morgan Stanley set a $16.00 price target on shares of Cytokinetics and gave the company a “hold” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Cytokinetics presently has an average rating of “Hold” and an average price target of $19.86.

The stock has a market cap of $483.29 million, a PE ratio of -4.74 and a beta of 1.54. The company has a debt-to-equity ratio of 12.35, a quick ratio of 8.20 and a current ratio of 8.20. The company’s 50-day moving average price is $10.59 and its 200 day moving average price is $11.36.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.50) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.56) by $0.06. The firm had revenue of $6.06 million for the quarter, compared to analyst estimates of $7.80 million. Cytokinetics had a negative net margin of 378.70% and a negative return on equity of 10,351.99%. As a group, equities research analysts predict that Cytokinetics, Inc. will post -2.02 earnings per share for the current fiscal year.

In other Cytokinetics news, CEO Robert I. Blum sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $12.74, for a total value of $76,440.00. Following the sale, the chief executive officer now owns 244,022 shares of the company’s stock, valued at $3,108,840.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 22,500 shares of company stock worth $244,215. 5.70% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CYTK. FMR LLC raised its position in Cytokinetics by 3.9% in the first quarter. FMR LLC now owns 1,926,824 shares of the biopharmaceutical company’s stock valued at $15,589,000 after purchasing an additional 73,141 shares during the period. Louisiana State Employees Retirement System raised its position in Cytokinetics by 4.9% in the second quarter. Louisiana State Employees Retirement System now owns 21,500 shares of the biopharmaceutical company’s stock valued at $237,000 after purchasing an additional 1,000 shares during the period. Oregon Public Employees Retirement Fund raised its position in Cytokinetics by 8.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 22,889 shares of the biopharmaceutical company’s stock valued at $258,000 after purchasing an additional 1,700 shares during the period. State of Alaska Department of Revenue raised its position in Cytokinetics by 6.3% in the second quarter. State of Alaska Department of Revenue now owns 19,608 shares of the biopharmaceutical company’s stock valued at $220,000 after purchasing an additional 1,170 shares during the period. Finally, Arizona State Retirement System raised its position in Cytokinetics by 6.1% in the second quarter. Arizona State Retirement System now owns 89,538 shares of the biopharmaceutical company’s stock valued at $1,007,000 after purchasing an additional 5,139 shares during the period. 75.25% of the stock is currently owned by institutional investors.

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.

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