Cytokinetics, Incorporated (NASDAQ:CYTK) Given Average Rating of “Moderate Buy” by Analysts

Cytokinetics, Incorporated (NASDAQ:CYTK) has been assigned an average recommendation of “Moderate Buy” from the twenty-one analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $87.4211.

A number of analysts have recently commented on CYTK shares. B. Riley Financial boosted their price objective on Cytokinetics from $90.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Wall Street Zen cut shares of Cytokinetics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research report on Tuesday, October 21st. Citizens Jmp lifted their price objective on shares of Cytokinetics from $78.00 to $88.00 and gave the stock a “market outperform” rating in a research note on Monday, December 22nd. Finally, Leerink Partners set a $83.00 target price on shares of Cytokinetics in a research note on Monday, December 22nd.

Cytokinetics Price Performance

NASDAQ CYTK opened at $65.04 on Friday. Cytokinetics has a 12 month low of $29.31 and a 12 month high of $70.98. The firm has a market capitalization of $7.95 billion, a PE ratio of -10.34 and a beta of 0.54. The company’s 50 day simple moving average is $63.34 and its 200 day simple moving average is $56.26.

Insider Activity

In other news, EVP Fady Ibraham Malik sold 2,200 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $61.24, for a total transaction of $134,728.00. Following the sale, the executive vice president directly owned 138,552 shares of the company’s stock, valued at $8,484,924.48. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrew Callos sold 15,000 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $61.93, for a total value of $928,950.00. Following the sale, the executive vice president directly owned 50,440 shares of the company’s stock, valued at approximately $3,123,749.20. This represents a 22.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 158,585 shares of company stock worth $10,286,998. Insiders own 2.70% of the company’s stock.

Institutional Trading of Cytokinetics

A number of hedge funds have recently bought and sold shares of the company. Bank of Montreal Can increased its position in shares of Cytokinetics by 1.2% in the fourth quarter. Bank of Montreal Can now owns 13,292 shares of the biopharmaceutical company’s stock worth $845,000 after acquiring an additional 160 shares in the last quarter. UMB Bank n.a. boosted its stake in Cytokinetics by 10.6% in the 3rd quarter. UMB Bank n.a. now owns 1,762 shares of the biopharmaceutical company’s stock worth $97,000 after purchasing an additional 169 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Cytokinetics by 46.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 171 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in Cytokinetics by 6.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,723 shares of the biopharmaceutical company’s stock worth $237,000 after purchasing an additional 239 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in Cytokinetics by 32.3% during the 3rd quarter. Fifth Third Bancorp now owns 1,072 shares of the biopharmaceutical company’s stock valued at $59,000 after purchasing an additional 262 shares during the period.

About Cytokinetics

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.