Cytokinetics Sees Unusually High Options Volume (NASDAQ:CYTK)

Cytokinetics, Incorporated (NASDAQ:CYTK) was the target of some unusual options trading on Friday. Stock traders acquired 3,210 call options on the company. This represents an increase of approximately 35% compared to the average volume of 2,373 call options.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CYTK shares. Bank of America cut their price objective on shares of Cytokinetics from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Needham & Company LLC restated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research note on Friday. JMP Securities reiterated a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research note on Thursday, April 10th. Citigroup started coverage on Cytokinetics in a research note on Friday, February 7th. They issued a “buy” rating and a $86.00 target price on the stock. Finally, Stifel Nicolaus initiated coverage on shares of Cytokinetics in a report on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price objective on the stock. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cytokinetics has a consensus rating of “Moderate Buy” and an average target price of $76.88.

Insider Buying and Selling at Cytokinetics

In related news, Director Wendall Wierenga sold 20,000 shares of the business’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $38.46, for a total transaction of $769,200.00. Following the transaction, the director now owns 24,848 shares in the company, valued at $955,654.08. The trade was a 44.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $45.98, for a total value of $91,960.00. Following the completion of the sale, the executive vice president now owns 116,071 shares in the company, valued at approximately $5,336,944.58. This represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,360 shares of company stock worth $3,848,445 over the last 90 days. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Cytokinetics

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Cytokinetics by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock valued at $560,520,000 after acquiring an additional 154,216 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Cytokinetics by 11.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company’s stock worth $505,780,000 after purchasing an additional 1,062,136 shares in the last quarter. Deep Track Capital LP lifted its holdings in shares of Cytokinetics by 296.9% during the 4th quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company’s stock valued at $117,600,000 after purchasing an additional 1,870,094 shares during the last quarter. Vestal Point Capital LP boosted its position in shares of Cytokinetics by 56.7% in the 4th quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company’s stock worth $110,544,000 after purchasing an additional 850,000 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in Cytokinetics by 14.9% during the 4th quarter. Marshall Wace LLP now owns 2,153,313 shares of the biopharmaceutical company’s stock worth $101,292,000 after buying an additional 279,612 shares during the last quarter.

Cytokinetics Stock Down 13.0 %

NASDAQ CYTK opened at $37.35 on Friday. Cytokinetics has a 52 week low of $32.74 and a 52 week high of $68.44. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of -6.94 and a beta of 0.94. The company has a fifty day moving average of $41.35 and a two-hundred day moving average of $46.74.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, beating the consensus estimate of ($1.29) by $0.03. The firm had revenue of $16.93 million during the quarter, compared to the consensus estimate of $14.26 million. On average, analysts predict that Cytokinetics will post -5.24 earnings per share for the current year.

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.