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.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.07). Cytokinetics had a negative return on equity of 269.27% and a negative net margin of 303.70%. The firm had revenue of $8.46 million during the quarter, compared to the consensus estimate of $6.21 million. Equities analysts predict that Cytokinetics, Inc. will post -1.85 EPS for the current year.

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.

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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.

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