A number of other research analysts have also recently issued reports on the company. Piper Jaffray Companies set a $14.00 price objective on Cytokinetics and gave the company a buy rating in a research note on Monday, July 15th. Needham & Company LLC set a $16.00 price objective on Cytokinetics and gave the company a buy rating in a research note on Friday, August 9th. Morgan Stanley set a $16.00 price objective on Cytokinetics and gave the company a hold rating in a research note on Friday, August 9th. ValuEngine upgraded Cytokinetics from a buy rating to a strong-buy rating in a research note on Friday, May 10th. Finally, HC Wainwright lifted their price objective on Cytokinetics from $21.00 to $26.00 and gave the company a buy rating in a research note on Monday, May 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Cytokinetics presently has an average rating of Buy and an average target price of $16.00.
CYTK opened at $13.99 on Friday. The stock has a market cap of $801.57 million, a PE ratio of -7.17 and a beta of 1.66. The company has a quick ratio of 7.09, a current ratio of 8.42 and a debt-to-equity ratio of 12.35. The business has a 50 day moving average of $12.02 and a 200-day moving average of $9.61. Cytokinetics has a 52 week low of $5.75 and a 52 week high of $14.25.
In other Cytokinetics news, CEO Robert I. Blum sold 6,000 shares of Cytokinetics stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $12.64, for a total value of $75,840.00. Following the completion of the sale, the chief executive officer now owns 250,022 shares of the company’s stock, valued at approximately $3,160,278.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 22,500 shares of company stock valued at $252,375. Corporate insiders own 5.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of CYTK. Wasatch Advisors Inc. increased its holdings in shares of Cytokinetics by 29.8% in the 1st quarter. Wasatch Advisors Inc. now owns 3,188,487 shares of the biopharmaceutical company’s stock worth $25,795,000 after purchasing an additional 731,682 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Cytokinetics in the 2nd quarter worth $6,829,000. Morgan Stanley increased its holdings in shares of Cytokinetics by 220.0% in the 2nd quarter. Morgan Stanley now owns 286,236 shares of the biopharmaceutical company’s stock worth $3,220,000 after purchasing an additional 196,786 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Cytokinetics in the 2nd quarter worth $2,203,000. Finally, BlackRock Inc. increased its holdings in shares of Cytokinetics by 2.2% in the 2nd quarter. BlackRock Inc. now owns 9,058,271 shares of the biopharmaceutical company’s stock worth $101,905,000 after purchasing an additional 195,445 shares in the last quarter. 66.26% of the stock is owned by institutional investors and hedge funds.
Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. The company is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.
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