Cytokinetics Sees Unusually High Options Volume (CYTK)

Cytokinetics, Inc. (NASDAQ:CYTK) saw some unusual options trading on Monday. Investors purchased 5,148 call options on the company. This is an increase of 913% compared to the typical daily volume of 508 call options.

Shares of CYTK opened at $9.48 on Tuesday. The company has a debt-to-equity ratio of 1.53, a current ratio of 9.36 and a quick ratio of 9.36. The company has a market cap of $490.05 million, a price-to-earnings ratio of -4.86 and a beta of 2.05. Cytokinetics has a 52 week low of $5.75 and a 52 week high of $10.44.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Thursday, February 21st. The biopharmaceutical company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.03. The firm had revenue of $9.38 million during the quarter, compared to analyst estimates of $3.46 million. Cytokinetics had a negative return on equity of 168.21% and a negative net margin of 337.42%. Analysts expect that Cytokinetics will post -1.75 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of CYTK. Bank of Montreal Can increased its holdings in Cytokinetics by 109.5% during the 1st quarter. Bank of Montreal Can now owns 3,321 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 1,736 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Cytokinetics by 141.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,426 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 2,594 shares in the last quarter. Neuburgh Advisers LLC increased its holdings in Cytokinetics by 55.6% during the 4th quarter. Neuburgh Advisers LLC now owns 6,776 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 2,420 shares in the last quarter. Flinton Capital Management LLC increased its holdings in Cytokinetics by 55.6% during the 4th quarter. Flinton Capital Management LLC now owns 10,472 shares of the biopharmaceutical company’s stock worth $66,000 after purchasing an additional 3,740 shares in the last quarter. Finally, Squarepoint Ops LLC increased its holdings in Cytokinetics by 14.2% during the 4th quarter. Squarepoint Ops LLC now owns 11,600 shares of the biopharmaceutical company’s stock worth $73,000 after purchasing an additional 1,438 shares in the last quarter. 71.91% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently commented on CYTK. HC Wainwright boosted their target price on Cytokinetics from $21.00 to $26.00 and gave the company a “buy” rating in a research report on Monday. ValuEngine lowered Cytokinetics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 30th. BidaskClub raised Cytokinetics from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Zacks Investment Research raised Cytokinetics from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Wednesday, April 24th. Finally, Piper Jaffray Companies boosted their target price on Cytokinetics from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $14.60.

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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 in which muscle performance is compromised and/or declining. The company is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.

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