Cytokinetics Inc. (CYTK) Shares Up 2.5%
Cytokinetics Inc. (NASDAQ:CYTK) shares shot up 2.5% during mid-day trading on Thursday . The company 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.
A number of brokerages have recently issued reports on CYTK. Roth Capital reissued a “buy” rating on shares of Cytokinetics in a research note on Saturday, April 30th. FBR & Co reissued a “buy” rating on shares of Cytokinetics in a research note on Monday, May 2nd. Piper Jaffray Cos. reissued an “overweight” rating and issued a $24.00 price objective on shares of Cytokinetics in a research note on Tuesday, July 12th. Finally, Zacks Investment Research downgraded Cytokinetics from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. Eight analysts have rated the stock with a buy rating, Cytokinetics has a consensus rating of “Buy” and a consensus price target of $17.38.
The stock’s market cap is $390.27 million. The firm has a 50-day moving average price of $9.25 and a 200-day moving average price of $7.98.
Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, April 28th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.06. On average, analysts anticipate that Cytokinetics Inc. will post ($1.50) earnings per share for the current year.
Other hedge funds have bought and sold shares of the company. Russell Frank Co acquired a new stake in Cytokinetics during the fourth quarter valued at about $4,719,000. 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 last quarter. Finally, Matarin Capital Management LLC acquired a new stake in Cytokinetics during the fourth quarter valued at about $2,512,000.
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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