Cytokinetics (NASDAQ:CYTK) Stock Price Down 4.4% – What’s Next?

Cytokinetics, Incorporated (NASDAQ:CYTK) shares traded down 4.4% during mid-day trading on Tuesday . The company traded as low as $44.26 and last traded at $44.54. 218,499 shares were traded during mid-day trading, a decline of 85% from the average session volume of 1,478,498 shares. The stock had previously closed at $46.57.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a report on Friday, February 28th. Morgan Stanley set a $67.00 target price on Cytokinetics in a research note on Friday, March 7th. Royal Bank of Canada boosted their price objective on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Stifel Nicolaus assumed coverage on Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $82.00.

Cytokinetics Trading Down 0.2 %

The company’s 50 day simple moving average is $45.88 and its two-hundred day simple moving average is $49.71. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of -8.09 and a beta of 0.95.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.03. The firm had revenue of $16.93 million for the quarter, compared to analyst estimates of $14.26 million. As a group, research analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cytokinetics news, EVP Andrew Callos sold 3,341 shares of Cytokinetics stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $43.27, for a total transaction of $144,565.07. Following the completion of the transaction, the executive vice president now owns 64,434 shares in the company, valued at approximately $2,788,059.18. This trade represents a 4.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Fady Ibraham Malik sold 2,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $45.92, for a total value of $91,840.00. Following the completion of the transaction, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at approximately $5,329,980.32. This trade represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,834 shares of company stock valued at $1,949,275 over the last 90 days. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Cytokinetics

A number of hedge funds have recently bought and sold shares of the business. Jones Financial Companies Lllp lifted its position in shares of Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 374 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Cytokinetics during the 4th quarter worth about $29,000. AlphaQuest LLC lifted its stake in Cytokinetics by 113,500.0% in the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 1,135 shares in the last quarter. J.Safra Asset Management Corp boosted its holdings in Cytokinetics by 62.1% in the 4th quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company’s stock worth $83,000 after buying an additional 671 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in Cytokinetics by 85.8% during the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company’s stock worth $86,000 after buying an additional 842 shares in the last quarter.

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.