Cytokinetics Inc. (CYTK) Sees Large Volume Increase
Shares of Cytokinetics Inc. (NASDAQ:CYTK) saw unusually-high trading volume on Thursday . Approximately 1,772,688 shares traded hands during trading, an increase of 457% from the previous session’s volume of 318,147 shares.The stock last traded at $10.39 and had previously closed at $12.07.
Several equities research analysts have issued reports on CYTK shares. Piper Jaffray Cos. reissued an “overweight” rating and issued a $24.00 price target on shares of Cytokinetics in a report on Wednesday, May 25th. Roth Capital reissued a “buy” rating and issued a $22.00 price target on shares of Cytokinetics in a report on Thursday, August 18th. Zacks Investment Research raised shares of Cytokinetics from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Wednesday, June 29th. Needham & Company LLC boosted their price target on shares of Cytokinetics from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Finally, FBR & Co reissued an “outperform” rating and issued a $24.00 price target on shares of Cytokinetics in a report on Wednesday, July 13th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Cytokinetics has an average rating of “Buy” and a consensus target price of $18.13.
The stock’s market cap is $411.32 million. The company’s 50 day moving average is $11.31 and its 200 day moving average is $8.73.
Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by $0.02. Analysts expect that Cytokinetics Inc. will post ($1.30) earnings per share for the current fiscal year.
A hedge fund recently bought a new stake in Cytokinetics stock. Ameriprise Financial Inc. acquired a new stake in Cytokinetics Inc. (NASDAQ:CYTK) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 194,179 shares of the biopharmaceutical company’s stock, valued at approximately $2,031,000. Ameriprise Financial Inc. owned 0.50% of Cytokinetics at the end of the most recent quarter.
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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