Cytokinetics (NASDAQ:CYTK) Reaches New 12-Month High at $35.47

Cytokinetics, Incorporated (NASDAQ:CYTK) shares reached a new 52-week high on Monday . The stock traded as high as $35.47 and last traded at $35.35, with a volume of 18903 shares traded. The stock had previously closed at $33.13.

A number of analysts have recently issued reports on the stock. JMP Securities increased their price objective on shares of Cytokinetics from $26.00 to $44.00 and gave the stock an “outperform” rating in a research note on Monday, July 19th. Zacks Investment Research cut shares of Cytokinetics from a “hold” rating to a “sell” rating in a research note on Friday, August 6th. HC Wainwright raised their target price on shares of Cytokinetics from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, August 6th. Cantor Fitzgerald raised their target price on shares of Cytokinetics from $35.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, July 20th. Finally, Raymond James raised their target price on shares of Cytokinetics from $37.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, July 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $43.09.

The business’s 50-day moving average price is $31.26 and its 200-day moving average price is $25.90. The company has a current ratio of 5.90, a quick ratio of 5.90 and a debt-to-equity ratio of 7.76. The stock has a market cap of $2.90 billion, a PE ratio of -16.14 and a beta of 1.41.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Thursday, August 5th. The biopharmaceutical company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.20). The firm had revenue of $2.84 million during the quarter, compared to analysts’ expectations of $5.68 million. Cytokinetics had a negative return on equity of 179.39% and a negative net margin of 269.48%. As a group, analysts predict that Cytokinetics, Incorporated will post -3.02 earnings per share for the current year.

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction that occurred on Thursday, September 9th. The shares were sold at an average price of $31.43, for a total transaction of $62,860.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction that occurred on Tuesday, July 6th. The shares were sold at an average price of $20.13, for a total transaction of $100,650.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,581 shares of company stock worth $985,416. 5.70% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers lifted its stake in shares of Cytokinetics by 2.3% in the 1st quarter. Rhumbline Advisers now owns 203,217 shares of the biopharmaceutical company’s stock valued at $4,727,000 after purchasing an additional 4,538 shares during the period. PFM Health Sciences LP raised its position in Cytokinetics by 58.2% during the first quarter. PFM Health Sciences LP now owns 1,536,373 shares of the biopharmaceutical company’s stock worth $35,736,000 after acquiring an additional 565,222 shares during the period. D. E. Shaw & Co. Inc. raised its position in Cytokinetics by 81.2% during the first quarter. D. E. Shaw & Co. Inc. now owns 92,247 shares of the biopharmaceutical company’s stock worth $2,146,000 after acquiring an additional 41,329 shares during the period. UBS Group AG raised its position in Cytokinetics by 2,690.2% during the first quarter. UBS Group AG now owns 88,254 shares of the biopharmaceutical company’s stock worth $2,053,000 after acquiring an additional 85,091 shares during the period. Finally, Mutual of America Capital Management LLC grew its holdings in shares of Cytokinetics by 7.4% during the second quarter. Mutual of America Capital Management LLC now owns 10,198 shares of the biopharmaceutical company’s stock worth $202,000 after buying an additional 701 shares in the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.

About Cytokinetics (NASDAQ:CYTK)

Cytokinetics, Inc operates as a biopharmaceutical company. The firm focuses on the discovery and development of muscle activators as potential treatment for debilitating diseases. It conducts a Phase 2 clinical trials program for tirasemtiv, including a Phase 2b clinical trial in patients with ALS, known as BENEFIT-ALS (Blinded Evaluation of Neuromuscular Effects and Functional Improvement with Tirasemtiv in ALS).

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