Cytokinetics Target of Unusually High Options Trading (NASDAQ:CYTK)
Cytokinetics, Inc. (NASDAQ:CYTK) was the recipient of some unusual options trading activity on Thursday. Stock traders acquired 2,111 put options on the stock. This is an increase of 1,142% compared to the average volume of 170 put options.
Several research analysts have weighed in on CYTK shares. Zacks Investment Research raised shares of Cytokinetics from a “sell” rating to a “hold” rating in a report on Thursday. Piper Jaffray Companies set a $14.00 price target on shares of Cytokinetics and gave the company a “buy” rating in a report on Monday, July 15th. Needham & Company LLC set a $16.00 price target on shares of Cytokinetics and gave the company a “buy” rating in a report on Friday, August 9th. Morgan Stanley set a $16.00 price target on shares of Cytokinetics and gave the company a “hold” rating in a report on Friday, August 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 price target (up from $14.00) on shares of Cytokinetics in a report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $17.86.
In other Cytokinetics news, CEO Robert I. Blum sold 6,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $12.64, for a total value of $75,840.00. Following the transaction, the chief executive officer now directly owns 250,022 shares of the company’s stock, valued at approximately $3,160,278.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 22,500 shares of company stock worth $257,445. Insiders own 5.70% of the company’s stock.
Shares of CYTK traded down $0.21 during mid-day trading on Friday, hitting $12.39. 365,373 shares of the company’s stock were exchanged, compared to its average volume of 500,988. Cytokinetics has a 52 week low of $5.75 and a 52 week high of $14.94. The stock’s 50-day simple moving average is $13.18 and its 200-day simple moving average is $10.33. The firm has a market cap of $741.11 million, a price-to-earnings ratio of -6.35 and a beta of 1.64. The company has a quick ratio of 8.42, a current ratio of 8.42 and a debt-to-equity ratio of 12.35.
Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.56) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.06). Cytokinetics had a negative return on equity of 575.21% and a negative net margin of 308.73%. The business had revenue of $7.14 million for the quarter, compared to the consensus estimate of $6.81 million. Analysts forecast that Cytokinetics will post -2 earnings per share for the current fiscal year.
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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