Cytokinetics Inc. (CYTK) Sees Unusually-High Trading Volume
Cytokinetics Inc. (NASDAQ:CYTK) saw strong trading volume on Friday . 478,558 shares changed hands during mid-day trading, an increase of 48% from the previous session’s volume of 323,699 shares.The stock last traded at $10.86 and had previously closed at $9.95.
Several equities analysts have recently weighed in on the company. FBR & Co restated a “buy” rating on shares of Cytokinetics in a research report on Monday, May 2nd. Zacks Investment Research upgraded Cytokinetics from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Wednesday, June 29th. Piper Jaffray Cos. restated an “overweight” rating and issued a $24.00 target price on shares of Cytokinetics in a research report on Tuesday, July 12th. Needham & Company LLC raised their target price on Cytokinetics from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Roth Capital restated a “buy” rating on shares of Cytokinetics in a research report on Saturday, April 30th. Eight investment analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus price target of $17.75.
The company’s market cap is $440.59 million. The company has a 50-day moving average price of $9.53 and a 200 day moving average price of $8.00.
Cytokinetics (NASDAQ:CYTK) last released its earnings results on Thursday, July 28th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by $0.02. Analysts forecast that Cytokinetics Inc. will post ($1.49) EPS for the current year.
A number of institutional investors have added to or reduced their stakes in CYTK. GSA Capital Partners LLP boosted its position in 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 acquired a new position in Cytokinetics during the fourth quarter valued at about $2,512,000. Finally, Russell Frank Co acquired a new position in Cytokinetics during the fourth quarter valued at 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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