Cytokinetics, Incorporated (NASDAQ:CYTK – Get Rating)’s share price gapped down before the market opened on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $64.00 to $55.00. The stock had previously closed at $36.00, but opened at $34.43. Cytokinetics shares last traded at $37.70, with a volume of 66,294 shares changing hands.
Several other equities research analysts also recently commented on CYTK. StockNews.com downgraded shares of Cytokinetics from a “hold” rating to a “sell” rating in a research report on Friday, November 4th. UBS Group assumed coverage on shares of Cytokinetics in a research report on Tuesday, October 11th. They set a “buy” rating and a $80.00 target price on the stock. Morgan Stanley lifted their target price on shares of Cytokinetics from $11.00 to $15.00 in a research report on Friday, August 12th. Mizuho assumed coverage on shares of Cytokinetics in a research report on Friday, September 2nd. They set a “buy” rating and a $80.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $75.00 price target on shares of Cytokinetics in a research report on Thursday. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Cytokinetics currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.58.
Insider Activity at Cytokinetics
In related news, Director John T. Henderson sold 21,759 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $54.94, for a total transaction of $1,195,439.46. Following the transaction, the director now owns 24,049 shares in the company, valued at approximately $1,321,252.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Robert Wong sold 2,100 shares of the business’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $40.68, for a total transaction of $85,428.00. Following the transaction, the chief accounting officer now owns 30,537 shares in the company, valued at approximately $1,242,245.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John T. Henderson sold 21,759 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $54.94, for a total transaction of $1,195,439.46. Following the transaction, the director now owns 24,049 shares in the company, valued at approximately $1,321,252.06. The disclosure for this sale can be found here. Insiders have sold 99,372 shares of company stock worth $4,761,662 in the last quarter. Company insiders own 5.00% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of CYTK. CWM LLC increased its stake in Cytokinetics by 83.6% during the 3rd quarter. CWM LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 245 shares in the last quarter. FourThought Financial LLC bought a new stake in Cytokinetics during the 3rd quarter valued at $30,000. Wipfli Financial Advisors LLC bought a new stake in Cytokinetics during the 3rd quarter valued at $45,000. Quadrant Capital Group LLC increased its stake in Cytokinetics by 439.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,959 shares of the biopharmaceutical company’s stock valued at $95,000 after purchasing an additional 1,596 shares in the last quarter. Finally, Chilton Capital Management LLC bought a new stake in Cytokinetics during the 2nd quarter valued at $89,000.
Cytokinetics Stock Up 5.6 %
The firm has a market cap of $3.60 billion, a P/E ratio of -11.39 and a beta of 1.00. The stock’s 50 day simple moving average is $42.91 and its 200 day simple moving average is $45.02. The company has a debt-to-equity ratio of 1.77, a quick ratio of 11.56 and a current ratio of 11.56.
Cytokinetics (NASDAQ:CYTK – Get Rating) last announced its quarterly earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.09). The business had revenue of $2.52 million for the quarter, compared to the consensus estimate of $2.26 million. Cytokinetics had a negative net margin of 190.34% and a negative return on equity of 225.84%. Research analysts anticipate that Cytokinetics, Incorporated will post -4.09 EPS for the current year.
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. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.