Cytokinetics (NASDAQ:CYTK) Shares Up 3.4%

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) rose 3.4% during mid-day trading on Tuesday . The company traded as high as $70.43 and last traded at $70.33. Approximately 303,632 shares were traded during trading, a decline of 90% from the average daily volume of 3,083,417 shares. The stock had previously closed at $68.00.

Wall Street Analysts Forecast Growth

CYTK has been the topic of a number of analyst reports. Morgan Stanley reissued an "equal weight" rating and set a $90.00 target price (up previously from $60.00) on shares of Cytokinetics in a report on Friday, January 5th. StockNews.com cut shares of Cytokinetics from a "hold" rating to a "sell" rating in a report on Friday, January 5th. Truist Financial reaffirmed a "buy" rating and issued a $86.00 price target on shares of Cytokinetics in a report on Monday, April 8th. Raymond James upped their price target on shares of Cytokinetics from $63.00 to $92.00 and gave the stock an "outperform" rating in a report on Thursday, December 28th. Finally, Mizuho decreased their price target on shares of Cytokinetics from $103.00 to $99.00 and set a "buy" rating on the stock in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Cytokinetics presently has an average rating of "Moderate Buy" and an average target price of $79.33.

Cytokinetics Stock Up 1.5 %

The firm's 50-day simple moving average is $71.71 and its 200-day simple moving average is $58.13. The firm has a market capitalization of $7.22 billion, a PE ratio of -12.66 and a beta of 0.68.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The business had revenue of $1.70 million for the quarter, compared to analyst estimates of $7.62 million. During the same period last year, the firm posted ($1.45) EPS. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. On average, equities research analysts forecast that Cytokinetics, Incorporated will post -4.5 earnings per share for the current year.

Insider Transactions at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 32,605 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $74.31, for a total transaction of $2,422,877.55. Following the completion of the sale, the executive vice president now directly owns 138,567 shares in the company, valued at $10,296,913.77. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Fady Ibraham Malik sold 32,605 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $74.31, for a total transaction of $2,422,877.55. Following the completion of the sale, the executive vice president now directly owns 138,567 shares in the company, valued at $10,296,913.77. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert I. Blum sold 12,500 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $79.57, for a total transaction of $994,625.00. Following the completion of the transaction, the chief executive officer now directly owns 441,797 shares of the company's stock, valued at $35,153,787.29. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,814 shares of company stock worth $9,605,955. Company insiders own 3.80% of the company's stock.

Institutional Trading of Cytokinetics

Several institutional investors and hedge funds have recently bought and sold shares of CYTK. Advisor Group Holdings Inc. lifted its holdings in Cytokinetics by 14.9% in the first quarter. Advisor Group Holdings Inc. now owns 5,930 shares of the biopharmaceutical company's stock worth $154,000 after buying an additional 767 shares during the period. JPMorgan Chase & Co. lifted its holdings in Cytokinetics by 21.0% in the first quarter. JPMorgan Chase & Co. now owns 65,026 shares of the biopharmaceutical company's stock worth $2,394,000 after buying an additional 11,299 shares during the period. Raymond James & Associates purchased a new stake in Cytokinetics in the first quarter worth about $564,000. PNC Financial Services Group Inc. lifted its holdings in Cytokinetics by 6.1% in the first quarter. PNC Financial Services Group Inc. now owns 6,454 shares of the biopharmaceutical company's stock worth $236,000 after buying an additional 372 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of Cytokinetics by 1.9% during the first quarter. Bank of Montreal Can now owns 24,711 shares of the biopharmaceutical company's stock valued at $940,000 after purchasing an additional 456 shares during 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.