Cytokinetics, Incorporated (NASDAQ:CYTK) saw a large growth in short interest during the month of September. As of September 29th, there was short interest totalling 4,319,319 shares, a growth of 41.9% from the September 15th total of 3,042,871 shares. Based on an average daily volume of 387,488 shares, the short-interest ratio is currently 11.1 days. Approximately 8.8% of the company’s stock are short sold.

In other news, Director Santo J. Costa sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $14.00, for a total value of $70,000.00. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at approximately $70,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Caryn Gordon Mcdowell sold 13,181 shares of the business’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $15.49, for a total transaction of $204,173.69. The disclosure for this sale can be found here. Insiders sold a total of 177,990 shares of company stock valued at $2,628,996 in the last three months. Insiders own 7.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC increased its position in shares of Cytokinetics, by 1.4% during the 1st quarter. Parametric Portfolio Associates LLC now owns 13,333 shares of the biopharmaceutical company’s stock worth $171,000 after purchasing an additional 189 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Cytokinetics, by 0.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 84,509 shares of the biopharmaceutical company’s stock worth $1,022,000 after purchasing an additional 688 shares in the last quarter. American International Group Inc. increased its position in shares of Cytokinetics, by 7.1% during the 1st quarter. American International Group Inc. now owns 20,852 shares of the biopharmaceutical company’s stock worth $268,000 after purchasing an additional 1,380 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Cytokinetics, by 7.5% during the 2nd quarter. ProShare Advisors LLC now owns 27,501 shares of the biopharmaceutical company’s stock worth $333,000 after purchasing an additional 1,926 shares in the last quarter. Finally, UBS Group AG increased its position in shares of Cytokinetics, by 16.9% during the 1st quarter. UBS Group AG now owns 14,281 shares of the biopharmaceutical company’s stock worth $183,000 after purchasing an additional 2,060 shares in the last quarter. Institutional investors and hedge funds own 71.50% of the company’s stock.

Cytokinetics, (CYTK) opened at 15.60 on Thursday. The firm’s market capitalization is $837.19 million. The firm’s 50-day moving average is $14.44 and its 200-day moving average is $13.83. Cytokinetics, has a 1-year low of $8.77 and a 1-year high of $17.20.

Cytokinetics, (NASDAQ:CYTK) last announced its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.03). The firm had revenue of $3.05 million for the quarter, compared to analyst estimates of $5.28 million. Cytokinetics, had a negative return on equity of 14.15% and a negative net margin of 16.00%. On average, equities analysts anticipate that Cytokinetics, will post ($2.51) EPS for the current year.

CYTK has been the subject of a number of recent research reports. BidaskClub raised shares of Cytokinetics, from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price objective on shares of Cytokinetics, in a research report on Sunday, September 17th. Morgan Stanley initiated coverage on shares of Cytokinetics, in a research report on Monday, July 31st. They set an “overweight” rating and a $24.00 price objective for the company. Zacks Investment Research downgraded shares of Cytokinetics, from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $21.00 price objective on shares of Cytokinetics, in a research report on Monday, September 18th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $21.64.

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Cytokinetics, Company Profile

Cytokinetics, Incorporated is a late-stage biopharmaceutical company. The Company is focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions.

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