Cytokinetics Inc. (CYTK) Trading 2.5% Higher
Shares of Cytokinetics Inc. (NASDAQ:CYTK) traded up 2.5% during mid-day trading on Thursday . The stock traded as high as $10.02 and last traded at $9.98, with a volume of 112,415 shares trading hands. The stock had previously closed at $9.74.
Several analysts recently issued reports on the stock. Roth Capital reissued a “buy” rating on shares of Cytokinetics in a research report on Saturday, April 30th. FBR & Co reissued a “buy” rating on shares of Cytokinetics in a research report on Monday, May 2nd. Piper Jaffray Cos. reissued an “overweight” rating and issued a $24.00 price target on shares of Cytokinetics in a research report on Tuesday, July 12th. Finally, Zacks Investment Research downgraded shares of Cytokinetics from a “hold” rating to a “sell” rating in a research report on Wednesday, May 4th. Eight equities research analysts have rated the stock with a buy rating, Cytokinetics has a consensus rating of “Buy” and a consensus target price of $17.38.
The firm has a 50 day moving average of $9.16 and a 200 day moving average of $7.97. The stock’s market cap is $394.63 million.
Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, April 28th. The biopharmaceutical company reported ($0.31) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.06. Equities analysts predict that Cytokinetics Inc. will post ($1.50) EPS for the current year.
Several institutional investors recently made changes to their positions in CYTK. Russell Frank Co bought a new position in shares of Cytokinetics during the fourth quarter worth approximately $4,719,000. Matarin Capital Management LLC bought a new position in shares of Cytokinetics during the fourth quarter worth approximately $2,512,000. Finally, GSA Capital Partners LLP boosted 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 worth $1,234,000 after buying an additional 99,287 shares during the period.
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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