Cytokinetics (NASDAQ:CYTK) Hits New 12-Month Low – Time to Sell?

Cytokinetics, Incorporated (NASDAQ:CYTK)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $34.68 and last traded at $36.33, with a volume of 487312 shares. The stock had previously closed at $37.36.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Morgan Stanley set a $67.00 price target on Cytokinetics in a report on Friday, March 7th. Citigroup initiated coverage on shares of Cytokinetics in a report on Friday, February 7th. They issued a “buy” rating and a $86.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a report on Tuesday. Evercore ISI upgraded shares of Cytokinetics to a “strong-buy” rating in a research report on Friday, February 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research report on Friday, April 4th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cytokinetics currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

Cytokinetics Stock Up 8.0 %

The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The firm’s 50-day moving average price is $43.59 and its 200 day moving average price is $48.38. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of -6.94 and a beta of 0.94.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.03. The company had revenue of $16.93 million for the quarter, compared to analysts’ expectations of $14.26 million. Sell-side analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Insider Activity at Cytokinetics

In related news, EVP Andrew Callos sold 2,886 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $35.78, for a total transaction of $103,261.08. Following the transaction, the executive vice president now owns 64,689 shares of the company’s stock, valued at approximately $2,314,572.42. This represents a 4.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert I. Blum sold 16,970 shares of Cytokinetics stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $43.44, for a total transaction of $737,176.80. Following the completion of the sale, the chief executive officer now directly owns 364,181 shares of the company’s stock, valued at $15,820,022.64. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,170 shares of company stock valued at $2,582,889. 3.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Cytokinetics

Several large investors have recently added to or reduced their stakes in the business. RFG Advisory LLC purchased a new position in shares of Cytokinetics during the 1st quarter worth about $1,286,000. Mirador Capital Partners LP raised its stake in Cytokinetics by 51.0% during the first quarter. Mirador Capital Partners LP now owns 99,125 shares of the biopharmaceutical company’s stock worth $3,984,000 after purchasing an additional 33,489 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Cytokinetics by 500.5% in the 1st quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company’s stock valued at $44,000 after purchasing an additional 916 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Cytokinetics by 15,210.5% during the 1st quarter. GAMMA Investing LLC now owns 45,013 shares of the biopharmaceutical company’s stock valued at $1,809,000 after buying an additional 44,719 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Cytokinetics during the 4th quarter worth $117,000.

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.