Published: Wed, November 22, 2017
Money | By Armando Alvarado

Stock on Analyst Radar: Cytokinetics (CYTK)

Stock on Analyst Radar: Cytokinetics (CYTK)

Cytokinetics, Incorporated (NASDAQ:CYTK)'s market cap, the total dollar value of all of their outstanding shares, is 565.21m.

Cytokinetics, (NASDAQ:CYTK) last posted its quarterly earnings data on Thursday, October 26th. The correct version of this piece can be read at The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Cowen and Company restated a buy rating and issued a $19.00 target price on shares of Cytokinetics, in a report on Friday, August 4th. Morgan Stanley reaffirmed an "overweight" rating and issued a $25.00 price objective (up from $24.00) on shares of Cytokinetics, in a research report on Friday, October 6th. In terms of market analysis and trading signals, RSI moving above the horizontal 30 reference level is viewed as a bullish indicator, while the RSI moving below the horizontal 70 reference level is seen to be a bearish indicator.

Other equities analysts have also recently issued research reports about the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company's stock. On October 27 HC Wainwright kept the company rating at "Buy" with a current price target of $26.00.

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In the transaction dated October 06, 2017, the great number of shares disposed came courtesy the GC & Chief Compliance Officer; Mcdowell Caryn Gordon disposed a total of 13,181 shares at an average price of $15.49, amounting to approximately $204,174. Stock's twelve month price oscillated between $17.20 and $9.80. Following the sale, the senior vice president now directly owns 63,107 shares of the company's stock, valued at approximately $946,605. In a transaction dated November 01, 2017, the shares were put up for sale at an average price of $13.39, raking in a sum of $98,028.

Looking at the stock's movement on the chart, Cytokinetics, Incorporated have shares float of 8.75%. Also, Director Santo J. Costa sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, August 29th. United Services Automobile Association owns 117,896 shares valued at $1,709,000. The firm has fifty days moving average percentage of -40.65% to its latest price change. The disclosure for this sale can be found here. Municipal Employees Retirement System of MI bought a new stake in shares of Cytokinetics, in the 2nd quarter valued at approximately $132,000. Piedmont Investment Advisors LLC purchased a new stake in shares of Cytokinetics, during the 3rd quarter valued at $159,000. State of Alaska Department of Revenue purchased a new stake in shares of Cytokinetics, during the 2nd quarter valued at $109,000. Corporate insiders own 7.20% of the company's stock. Birchview Capital LP bought a new stake in shares of Cytokinetics, in the 3rd quarter valued at approximately $145,000. Finally, Citigroup Inc. lifted its stake in shares of Cytokinetics, by 9.9% in the 2nd quarter. Bank of America Corp DE now owns 12,571 shares of the biopharmaceutical company's stock valued at $162,000 after buying an additional 3,383 shares in the last quarter.

For that matter, "Omecamtiv mecarbil, the company's heart failure program partnered with AMGN (not covered) has just begun a large, global Phase III study in heart failure and has not yet been included in our valuation, which we see as mitigating the negative tirasemtiv news", contends the analyst, reiterating an Overweight rating on CYTK stock with a $21 price target, which represents a almost 173% increase from where the stock is now trading. As such, the CYTK team is putting a halt to development of its asset tirasemtiv, a fast skeletal muscle troponin activator created to help ALS patients better the very muscle function that they lose in the condition. "That is where our strategy as a company goes from ALS and other diseases of severe neuromuscular dysfunction in the near term to a goal to develop both skeletal and cardiac muscle activators for an aging population", Blum said.

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