Cytokinetics Sees Unusually Large Options Volume (NASDAQ:CYTK)

Cytokinetics, Incorporated (NASDAQ:CYTK) saw some unusual options trading activity on Wednesday. Investors purchased 20,700 call options on the stock. This is an increase of approximately 1,472% compared to the typical volume of 1,317 call options.

Cytokinetics Stock Performance

NASDAQ CYTK opened at $47.67 on Friday. The business’s 50-day moving average price is $53.74 and its 200 day moving average price is $54.92. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics has a twelve month low of $30.68 and a twelve month high of $110.25. The company has a market capitalization of $5.63 billion, a PE ratio of -8.86 and a beta of 0.78.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The company had revenue of $0.46 million for the quarter, compared to analyst estimates of $1.21 million. The business’s revenue was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.35) earnings per share. On average, research analysts predict that Cytokinetics will post -5.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CYTK has been the topic of several recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a report on Monday. JPMorgan Chase & Co. raised their price objective on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. The Goldman Sachs Group lowered shares of Cytokinetics from a “buy” rating to a “neutral” rating and cut their price target for the stock from $85.00 to $60.00 in a research note on Tuesday, August 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Cytokinetics has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Insider Activity at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $57.03, for a total value of $285,150.00. Following the transaction, the chief executive officer now owns 397,456 shares of the company’s stock, valued at $22,666,915.68. This represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Wendall Wierenga sold 4,452 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $52.25, for a total value of $232,617.00. Following the transaction, the director now owns 24,559 shares of the company’s stock, valued at approximately $1,283,207.75. This represents a 15.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,078 shares of company stock valued at $3,514,119. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CYTK. J.Safra Asset Management Corp increased its stake in Cytokinetics by 642.3% during the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 456 shares during the last quarter. UMB Bank n.a. raised its holdings in Cytokinetics by 65.6% in the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 238 shares during the period. Blue Trust Inc. lifted its position in Cytokinetics by 225.9% during the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 680 shares in the last quarter. Values First Advisors Inc. acquired a new stake in shares of Cytokinetics in the third quarter worth $54,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Cytokinetics in the 1st quarter valued at $74,000.

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.