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.

Several institutional investors and hedge funds have recently made changes to their positions in CYTK. Bank of America Corp DE increased its holdings in shares of Cytokinetics by 303.8% during the fourth quarter. Bank of America Corp DE now owns 43,462 shares of the biopharmaceutical company’s stock worth $275,000 after purchasing an additional 32,699 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of Cytokinetics by 59,718.8% during the first quarter. BNP Paribas Arbitrage SA now owns 9,571 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 9,555 shares during the period. Bank of Montreal Can increased its holdings in shares of Cytokinetics by 109.5% during the first quarter. Bank of Montreal Can now owns 3,321 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 1,736 shares during the period. SG Americas Securities LLC bought a new position in shares of Cytokinetics during the first quarter worth approximately $151,000. Finally, Comerica Bank increased its holdings in shares of Cytokinetics by 3.5% during the first quarter. Comerica Bank now owns 54,154 shares of the biopharmaceutical company’s stock worth $472,000 after purchasing an additional 1,808 shares during the period. 74.55% of the stock is currently owned by institutional investors.

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.

About Cytokinetics

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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