Cytokinetics (NASDAQ:CYTK) Shares Down 3.1% - Time to Sell?

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report)'s share price dropped 3.1% during trading on Monday . The stock traded as low as $33.45 and last traded at $33.32. Approximately 269,967 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 1,551,980 shares. The stock had previously closed at $34.38.

Analyst Ratings Changes

CYTK has been the topic of several recent research reports. Bank of America lowered their target price on shares of Cytokinetics from $62.00 to $54.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. JMP Securities reaffirmed a "market outperform" rating and set a $78.00 price objective on shares of Cytokinetics in a report on Thursday, April 10th. Cantor Fitzgerald upgraded Cytokinetics to a "strong-buy" rating in a report on Tuesday, May 13th. Needham & Company LLC reiterated a "buy" rating and issued a $72.00 price target on shares of Cytokinetics in a research report on Wednesday, May 14th. Finally, Mizuho cut their target price on shares of Cytokinetics from $103.00 to $84.00 and set an "outperform" rating for the company in a research note on Thursday, May 29th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $70.92.

Cytokinetics Stock Down 1.6%

The company has a market capitalization of $4.04 billion, a P/E ratio of -6.29 and a beta of 0.59. 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 stock has a 50 day moving average price of $34.83 and a 200 day moving average price of $42.26.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.41) by $0.05. The company had revenue of $1.60 million for the quarter, compared to the consensus estimate of $2.77 million. The business's revenue for the quarter was up 89.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.33) earnings per share. Equities research analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cytokinetics news, CEO Robert I. Blum sold 15,000 shares of Cytokinetics stock in a transaction on Monday, March 31st. The shares were sold at an average price of $40.75, for a total value of $611,250.00. Following the sale, the chief executive officer now directly owns 427,629 shares in the company, valued at approximately $17,425,881.75. The trade was a 3.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Wendall Wierenga sold 20,000 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $38.46, for a total transaction of $769,200.00. Following the completion of the transaction, the director now directly owns 24,848 shares of the company's stock, valued at approximately $955,654.08. The trade was a 44.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,277 shares of company stock worth $2,829,921. 2.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cytokinetics

Hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in shares of Cytokinetics during the fourth quarter worth about $254,000. AlphaQuest LLC grew its position in shares of Cytokinetics by 113,500.0% in the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 1,135 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Cytokinetics by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company's stock valued at $560,520,000 after purchasing an additional 154,216 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Cytokinetics by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,335,189 shares of the biopharmaceutical company's stock valued at $62,807,000 after purchasing an additional 13,798 shares during the last quarter. Finally, Peregrine Capital Management LLC increased its position in shares of Cytokinetics by 6.7% during the fourth quarter. Peregrine Capital Management LLC now owns 150,343 shares of the biopharmaceutical company's stock valued at $7,072,000 after acquiring an additional 9,432 shares during 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.

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