Cytokinetics (NASDAQ:CYTK) Stock Price Up 7.4% – What’s Next?

Cytokinetics, Incorporated (NASDAQ:CYTK) rose 7.4% during trading on Thursday . The stock traded as high as $49.51 and last traded at $49.85. Approximately 917,938 shares traded hands during trading, a decline of 40% from the average daily volume of 1,531,931 shares. The stock had previously closed at $46.40.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Stifel Nicolaus assumed coverage on Cytokinetics in a research note on Wednesday, January 22nd. They set a “buy” rating and a $80.00 price target for the company. Mizuho lifted their price target on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Citigroup assumed coverage on Cytokinetics in a research note on Friday, February 7th. They set a “buy” rating and a $86.00 price target for the company. Finally, Morgan Stanley raised Cytokinetics from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $70.00 to $67.00 in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cytokinetics has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

Cytokinetics Stock Down 1.7 %

The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The company has a market cap of $5.93 billion, a PE ratio of -9.34 and a beta of 0.83. The firm has a fifty day simple moving average of $47.29 and a 200 day simple moving average of $51.53.

Insider Buying and Selling at Cytokinetics

In other news, Director Wendall Wierenga sold 742 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $48.61, for a total transaction of $36,068.62. Following the completion of the sale, the director now owns 24,559 shares in the company, valued at approximately $1,193,812.99. The trade was a 2.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $45.92, for a total value of $91,840.00. Following the sale, the executive vice president now owns 116,071 shares of the company’s stock, valued at $5,329,980.32. The trade was a 1.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,122 shares of company stock worth $1,494,016 in the last 90 days. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cytokinetics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GF Fund Management CO. LTD. purchased a new position in Cytokinetics in the 4th quarter worth approximately $117,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new position in Cytokinetics in the 4th quarter worth approximately $15,483,000. Vestal Point Capital LP boosted its holdings in Cytokinetics by 56.7% in the 4th quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company’s stock worth $110,544,000 after acquiring an additional 850,000 shares during the period. Two Sigma Advisers LP raised its position in shares of Cytokinetics by 5.4% in the 4th quarter. Two Sigma Advisers LP now owns 226,400 shares of the biopharmaceutical company’s stock valued at $10,650,000 after purchasing an additional 11,700 shares in the last quarter. Finally, Teza Capital Management LLC acquired a new position in shares of Cytokinetics in the 4th quarter valued at approximately $446,000.

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.