Cytokinetics Inc. (CYTK) Sees Large Volume Increase
Cytokinetics Inc. (NASDAQ:CYTK) saw unusually-strong trading volume on Friday . Approximately 478,558 shares traded 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.
A number of research analysts have weighed in on CYTK shares. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $24.00 price objective on shares of Cytokinetics in a report on Wednesday, May 25th. Zacks Investment Research raised shares of Cytokinetics from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Wednesday, June 29th. Needham & Company LLC boosted their target price on shares of Cytokinetics from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday. FBR & Co reissued an “outperform” rating and set a $24.00 target price on shares of Cytokinetics in a research note on Wednesday, July 13th. Finally, Roth Capital reissued a “buy” rating on shares of Cytokinetics in a research note on Saturday, April 30th. Eight research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus target price of $17.75.
The firm’s market capitalization is $441.09 million. The stock’s 50 day moving average is $9.53 and its 200 day moving average is $8.00.
Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.02. Equities analysts expect that Cytokinetics Inc. will post ($1.32) earnings per share for the current year.
A number of hedge funds have modified their holdings of CYTK. Matarin Capital Management LLC acquired a new stake in shares of Cytokinetics during the fourth quarter worth $2,512,000. GSA Capital Partners LLP boosted its stake 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 period. Finally, Russell Frank Co purchased a new stake in Cytokinetics during the fourth quarter valued at approximately $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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.