Cytokinetics, Inc. (NASDAQ:CYTK) shares gapped down prior to trading on Friday . The stock had previously closed at $6.56, but opened at $8.27. Cytokinetics shares last traded at $7.80, with a volume of 102,976 shares trading hands.
Several research analysts have weighed in on CYTK shares. ValuEngine downgraded Cytokinetics from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. HC Wainwright reiterated a “buy” rating and issued a $26.00 price target on shares of Cytokinetics in a report on Friday, October 4th. BidaskClub downgraded Cytokinetics from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Morgan Stanley set a $16.00 price objective on Cytokinetics and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Needham & Company LLC restated a “buy” rating and set a $24.00 price objective on shares of Cytokinetics in a report on Friday, November 1st. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $19.86.
The firm has a market capitalization of $654.04 million, a price-to-earnings ratio of -4.21 and a beta of 1.54. The company has a debt-to-equity ratio of 12.35, a quick ratio of 8.42 and a current ratio of 8.20. The business has a fifty day moving average price of $11.54 and a 200 day moving average price of $11.39.
Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($0.50) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.06. The business had revenue of $6.06 million during the quarter, compared to the consensus estimate of $7.80 million. Cytokinetics had a negative return on equity of 10,351.99% and a negative net margin of 378.70%. On average, analysts expect that Cytokinetics, Inc. will post -2.02 earnings per share for the current year.
In other news, CEO Robert I. Blum sold 6,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $12.74, for a total transaction of $76,440.00. Following the completion of the sale, the chief executive officer now directly owns 244,022 shares in the company, valued at approximately $3,108,840.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders have sold 21,000 shares of company stock valued at $256,605. Insiders own 5.70% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Aperio Group LLC acquired a new stake in Cytokinetics in the 2nd quarter valued at $183,000. Parametric Portfolio Associates LLC boosted its position in Cytokinetics by 32.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 104,570 shares of the biopharmaceutical company’s stock valued at $1,176,000 after buying an additional 25,783 shares during the last quarter. Vanguard Group Inc. boosted its position in Cytokinetics by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 3,961,497 shares of the biopharmaceutical company’s stock valued at $44,566,000 after buying an additional 147,849 shares during the last quarter. Swiss National Bank boosted its position in Cytokinetics by 5.5% in the 2nd quarter. Swiss National Bank now owns 86,600 shares of the biopharmaceutical company’s stock valued at $974,000 after buying an additional 4,500 shares during the last quarter. Finally, Morgan Stanley boosted its position in Cytokinetics by 220.0% in the 2nd quarter. Morgan Stanley now owns 286,236 shares of the biopharmaceutical company’s stock valued at $3,220,000 after buying an additional 196,786 shares during the last quarter. Hedge funds and other institutional investors own 76.13% of the company’s stock.
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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