Cytokinetics (NASDAQ:CYTK) Receives New Coverage from Analysts at B. Riley

B. Riley initiated coverage on shares of Cytokinetics (NASDAQ:CYTK) in a research report report published on Tuesday, Marketbeat.com reports. The firm issued a buy rating and a $66.00 price objective on the biopharmaceutical company’s stock.

A number of other brokerages have also recently commented on CYTK. Needham & Company LLC reiterated a buy rating and issued a $60.00 price target on shares of Cytokinetics in a research note on Friday, October 20th. StockNews.com upgraded shares of Cytokinetics from a sell rating to a hold rating in a research note on Monday. Leerink Partnrs reiterated an outperform rating on shares of Cytokinetics in a research note on Tuesday, August 15th. SVB Securities initiated coverage on shares of Cytokinetics in a research note on Tuesday, August 15th. They issued an outperform rating and a $58.00 price target for the company. Finally, Cantor Fitzgerald increased their price target on shares of Cytokinetics from $59.00 to $65.00 and gave the company an overweight rating in a research note on Monday, October 9th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $59.73.

Cytokinetics Trading Up 4.1 %

Shares of CYTK opened at $35.85 on Tuesday. Cytokinetics has a 12 month low of $25.98 and a 12 month high of $47.49. The firm has a fifty day simple moving average of $33.08 and a 200 day simple moving average of $34.58. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of -6.30 and a beta of 0.63.

Insider Buying and Selling

In related news, CEO Robert I. Blum sold 12,500 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $32.17, for a total transaction of $402,125.00. Following the transaction, the chief executive officer now directly owns 441,417 shares of the company’s stock, valued at $14,200,384.89. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Cytokinetics news, CEO Robert I. Blum sold 12,500 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $32.17, for a total value of $402,125.00. Following the transaction, the chief executive officer now directly owns 441,417 shares of the company’s stock, valued at approximately $14,200,384.89. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Fady Ibraham Malik sold 2,500 shares of the firm’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $35.89, for a total transaction of $89,725.00. Following the completion of the transaction, the executive vice president now directly owns 153,164 shares in the company, valued at $5,497,055.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,020 shares of company stock valued at $2,833,760. 3.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cytokinetics

Several hedge funds have recently bought and sold shares of the company. Captrust Financial Advisors boosted its stake in shares of Cytokinetics by 7.8% in the 3rd quarter. Captrust Financial Advisors now owns 4,177 shares of the biopharmaceutical company’s stock valued at $202,000 after purchasing an additional 304 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Cytokinetics by 2.1% in the 2nd quarter. Victory Capital Management Inc. now owns 15,715 shares of the biopharmaceutical company’s stock valued at $513,000 after purchasing an additional 320 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Cytokinetics by 33.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 1,282 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 321 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in shares of Cytokinetics by 76.2% in the 1st quarter. Belpointe Asset Management LLC now owns 786 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 340 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Cytokinetics by 0.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,684 shares of the biopharmaceutical company’s stock valued at $1,523,000 after purchasing an additional 359 shares in the last quarter.

Cytokinetics Company Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.