Cytokinetics Target of Unusually High Options Trading (NASDAQ:CYTK)

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) saw unusually large options trading activity on Wednesday. Investors acquired 5,137 call options on the company. This is an increase of 96% compared to the average volume of 2,622 call options.

Cytokinetics Stock Performance

NASDAQ CYTK traded down $0.33 during trading on Thursday, reaching $32.08. The company's stock had a trading volume of 1,019,906 shares, compared to its average volume of 1,567,076. The firm has a 50 day moving average price of $35.50 and a 200 day moving average price of $43.22. Cytokinetics has a 12 month low of $29.31 and a 12 month high of $61.38. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of -5.96 and a beta of 0.59.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, topping analysts' consensus estimates of ($1.41) by $0.05. The firm had revenue of $1.60 million for the quarter, compared to the consensus estimate of $2.77 million. The business's revenue was up 89.1% on a year-over-year basis. During the same period last year, the company posted ($1.33) EPS. As a group, equities analysts anticipate that Cytokinetics will post -5.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. UBS Group lowered their price objective on shares of Cytokinetics from $47.00 to $41.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Royal Bank of Canada lowered their price objective on shares of Cytokinetics from $82.00 to $80.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. HC Wainwright restated a "buy" rating and set a $120.00 price objective on shares of Cytokinetics in a research note on Monday, April 21st. Evercore ISI upgraded shares of Cytokinetics to a "strong-buy" rating in a research note on Friday, February 7th. Finally, Cantor Fitzgerald upgraded shares of Cytokinetics to a "strong-buy" rating in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Cytokinetics currently has an average rating of "Moderate Buy" and a consensus target price of $72.31.

Insider Transactions at Cytokinetics

In other Cytokinetics news, Director Wendall Wierenga sold 20,000 shares of the business's 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 sale, the director now directly owns 24,848 shares of the company's stock, valued at $955,654.08. The trade was a 44.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert I. Blum sold 12,648 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $44.38, for a total transaction of $561,318.24. Following the sale, the chief executive officer now directly owns 326,533 shares in the company, valued at $14,491,534.54. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,800 shares of company stock valued at $3,518,893 over the last three months. 3.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cytokinetics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio bought a new position in Cytokinetics in the 1st quarter valued at approximately $418,000. Intech Investment Management LLC lifted its stake in Cytokinetics by 33.8% in the 1st quarter. Intech Investment Management LLC now owns 67,261 shares of the biopharmaceutical company's stock valued at $2,703,000 after purchasing an additional 16,988 shares during the last quarter. Bayforest Capital Ltd lifted its stake in Cytokinetics by 336.5% in the 1st quarter. Bayforest Capital Ltd now owns 7,372 shares of the biopharmaceutical company's stock valued at $296,000 after purchasing an additional 5,683 shares during the last quarter. Woodline Partners LP increased its position in Cytokinetics by 68.2% in the 1st quarter. Woodline Partners LP now owns 212,303 shares of the biopharmaceutical company's stock valued at $8,532,000 after acquiring an additional 86,102 shares during the period. Finally, Zimmer Partners LP increased its position in Cytokinetics by 116.1% in the 1st quarter. Zimmer Partners LP now owns 82,132 shares of the biopharmaceutical company's stock valued at $3,301,000 after acquiring an additional 44,132 shares during the period.

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.