Cytokinetics Inc. (NASDAQ:CYTK) shares dropped 1.3% during mid-day trading on Monday . The stock traded as low as $9.72 and last traded at $9.76, with a volume of 129,619 shares. The stock had previously closed at $9.89.

CYTK has been the topic of several research analyst reports. Roth Capital reissued a “buy” rating on shares of Cytokinetics in a research note on Saturday, April 30th. Piper Jaffray Cos. reissued an “overweight” rating and set a $24.00 target price on shares of Cytokinetics in a research note on Wednesday, May 25th. FBR & Co reaffirmed an “outperform” rating and issued a $24.00 price objective on shares of Cytokinetics in a research note on Wednesday, July 13th. Finally, Zacks Investment Research lowered shares of Cytokinetics from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. Eight investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average price target of $17.38.

The company’s 50 day moving average is $9.10 and its 200 day moving average is $7.94. The stock’s market capitalization is $386.70 million.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Thursday, April 28th. The biopharmaceutical company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.06. Analysts expect that Cytokinetics Inc. will post ($1.50) EPS for the current year.

Other hedge funds and institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP increased its position in shares of Cytokinetics by 532.5% in the fourth quarter. GSA Capital Partners LLP now owns 117,931 shares of the biopharmaceutical company’s stock valued at $1,234,000 after buying an additional 99,287 shares during the last quarter. Matarin Capital Management LLC bought a new position in shares of Cytokinetics during the fourth quarter worth about $2,512,000. Finally, Russell Frank Co bought a new position in shares of Cytokinetics during the fourth quarter worth about $4,719,000.

Cytokinetics, Incorporated is a biopharmaceutical company. The Company is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions. Its drug candidates include tirasemtiv, CK-2127107 and omecamtiv mecarbil.

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