Cytokinetics (CYTK) Shares Down 9.5%
Cytokinetics, Inc. (NASDAQ:CYTK) was down 9.5% during trading on Thursday . The stock traded as low as $9.51 and last traded at $9.57. Approximately 517,586 shares traded hands during trading, a decline of 6% from the average daily volume of 552,935 shares. The stock had previously closed at $10.58.
Several equities research analysts have recently commented on CYTK shares. BidaskClub raised shares of Cytokinetics from a “hold” rating to a “buy” rating in a research report on Tuesday, March 26th. HC Wainwright set a $21.00 target price on shares of Cytokinetics and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Cantor Fitzgerald reissued a “buy” rating and set a $14.00 target price on shares of Cytokinetics in a research report on Friday, May 10th. ValuEngine raised shares of Cytokinetics from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Finally, Zacks Investment Research downgraded shares of Cytokinetics from a “buy” rating to a “hold” rating in a research report on Tuesday, February 26th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $14.60.
The company has a current ratio of 7.09, a quick ratio of 7.09 and a debt-to-equity ratio of 12.35. The stock has a market capitalization of $552.39 million, a PE ratio of -4.91 and a beta of 2.05.
Hedge funds have recently modified their holdings of the business. Magnus Financial Group LLC bought a new stake in Cytokinetics in the 4th quarter worth about $75,000. State of Alaska Department of Revenue grew its position in Cytokinetics by 9.4% in the 4th quarter. State of Alaska Department of Revenue now owns 18,233 shares of the biopharmaceutical company’s stock worth $115,000 after purchasing an additional 1,564 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in Cytokinetics by 48.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 187,083 shares of the biopharmaceutical company’s stock valued at $1,183,000 after acquiring an additional 61,344 shares during the last quarter. Legal & General Group Plc boosted its stake in Cytokinetics by 16.2% in the third quarter. Legal & General Group Plc now owns 114,983 shares of the biopharmaceutical company’s stock valued at $1,132,000 after acquiring an additional 16,053 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Cytokinetics by 233.6% in the third quarter. Dimensional Fund Advisors LP now owns 229,377 shares of the biopharmaceutical company’s stock valued at $2,259,000 after acquiring an additional 160,622 shares during the last quarter. 69.66% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: This news story was published by Watch List News and is the property of of Watch List News. If you are viewing this news story on another website, it was illegally copied and republished in violation of U.S. & international copyright & trademark laws. The original version of this news story can be read at https://www.watchlistnews.com/cytokinetics-cytk-shares-down-9-5/3020218.html.
About Cytokinetics (NASDAQ:CYTK)
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.
Recommended Story: Trading Strategy Methods for Individual Investors
Receive News & Ratings for Cytokinetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cytokinetics and related companies with MarketBeat.com's FREE daily email newsletter.