Cytokinetics, Incorporated (NASDAQ:CYTK) Short Interest Update

Cytokinetics, Incorporated (NASDAQ:CYTK) saw a significant decrease in short interest in November. As of November 15th, there was short interest totalling 14,590,000 shares, a decrease of 7.0% from the October 31st total of 15,690,000 shares. Approximately 12.8% of the company’s shares are sold short. Based on an average daily volume of 1,240,000 shares, the short-interest ratio is presently 11.8 days.

Cytokinetics Price Performance

Shares of CYTK stock traded up $0.88 on Tuesday, hitting $51.51. The company’s stock had a trading volume of 1,100,421 shares, compared to its average volume of 2,030,498. The firm’s fifty day moving average price is $53.18 and its 200-day moving average price is $54.28. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics has a fifty-two week low of $32.50 and a fifty-two week high of $110.25.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The business had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $1.21 million. During the same period last year, the business posted ($1.35) earnings per share. The firm’s quarterly revenue was up 22.5% on a year-over-year basis. On average, analysts anticipate that Cytokinetics will post -5.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CYTK shares. The Goldman Sachs Group lowered shares of Cytokinetics from a “buy” rating to a “neutral” rating and reduced their target price for the company from $85.00 to $60.00 in a report on Tuesday, August 13th. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research note on Monday. JMP Securities restated a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a report on Wednesday, September 4th. HC Wainwright reaffirmed a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a research note on Monday. Finally, Mizuho boosted their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Insiders Place Their Bets

In other news, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $50.76, for a total transaction of $253,800.00. Following the completion of the sale, the chief executive officer now directly owns 397,678 shares of the company’s stock, valued at approximately $20,186,135.28. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Fady Ibraham Malik sold 6,342 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $58.48, for a total transaction of $370,880.16. Following the sale, the executive vice president now owns 113,878 shares of the company’s stock, valued at approximately $6,659,585.44. This represents a 5.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,994 shares of company stock worth $3,427,975 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CYTK. Cetera Advisors LLC bought a new position in Cytokinetics in the first quarter valued at $531,000. DNB Asset Management AS increased its holdings in shares of Cytokinetics by 9.8% during the second quarter. DNB Asset Management AS now owns 7,231 shares of the biopharmaceutical company’s stock worth $392,000 after purchasing an additional 645 shares during the period. First Bank & Trust grew its holdings in shares of Cytokinetics by 4.7% during the 2nd quarter. First Bank & Trust now owns 6,757 shares of the biopharmaceutical company’s stock worth $366,000 after purchasing an additional 303 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Cytokinetics by 402.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 17,814 shares of the biopharmaceutical company’s stock valued at $965,000 after buying an additional 14,270 shares during the period. Finally, Mirador Capital Partners LP raised its position in Cytokinetics by 78.1% during the second quarter. Mirador Capital Partners LP now owns 63,143 shares of the biopharmaceutical company’s stock valued at $3,421,000 after purchasing an additional 27,688 shares in the last quarter.

About Cytokinetics

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.