Cytokinetics (NASDAQ:CYTK) Shares Down 4.4% – Should You Sell?

Cytokinetics, Incorporated (NASDAQ:CYTK) shares dropped 4.4% during mid-day trading on Tuesday . The company traded as low as $44.26 and last traded at $44.54. Approximately 218,499 shares traded hands during trading, a decline of 85% from the average daily volume of 1,478,498 shares. The stock had previously closed at $46.57.

Analyst Upgrades and Downgrades

CYTK has been the subject of several recent analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research note on Friday, February 7th. Evercore ISI raised shares of Cytokinetics to a “strong-buy” rating in a research report on Friday, February 7th. HC Wainwright reissued a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research report on Friday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a report on Thursday, February 6th. Finally, Morgan Stanley set a $67.00 price target on Cytokinetics in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cytokinetics has an average rating of “Moderate Buy” and a consensus target price of $82.00.

Cytokinetics Stock Performance

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 has a market capitalization of $5.22 billion, a PE ratio of -8.18 and a beta of 0.95. The company’s fifty day simple moving average is $45.96 and its 200 day simple moving average is $49.82.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.03. The business had revenue of $16.93 million during the quarter, compared to analysts’ expectations of $14.26 million. As a group, equities research analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Insider Activity at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 16,970 shares of Cytokinetics stock in a transaction dated 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 transaction, the chief executive officer now owns 364,181 shares of the company’s stock, valued at $15,820,022.64. The trade was a 4.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $45.92, for a total transaction of $91,840.00. Following the completion of the sale, the executive vice president now directly owns 116,071 shares in the company, valued at approximately $5,329,980.32. The trade was a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,834 shares of company stock worth $1,949,275. 3.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new stake in shares of Cytokinetics during the 4th quarter valued at $117,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new position in shares of Cytokinetics in the 4th quarter worth about $15,483,000. Vestal Point Capital LP increased its position in shares of Cytokinetics by 56.7% during the 4th quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company’s stock valued at $110,544,000 after purchasing an additional 850,000 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of Cytokinetics by 5.4% during the 4th quarter. Two Sigma Advisers LP now owns 226,400 shares of the biopharmaceutical company’s stock valued at $10,650,000 after buying an additional 11,700 shares in the last quarter. Finally, Teza Capital Management LLC bought a new stake in Cytokinetics in the 4th quarter worth approximately $446,000.

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.