Stock Traders Purchase High Volume of Put Options on Cytokinetics, (CYTK)
Cytokinetics, Incorporated (NASDAQ:CYTK) was the target of unusually large options trading on Thursday. Stock investors purchased 2,086 put options on the company. This is an increase of approximately Infinity compared to the average daily volume of 0 put options.
In other Cytokinetics, news, insider Caryn Gordon Mcdowell sold 11,348 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $12.47, for a total value of $141,509.56. Following the completion of the transaction, the insider now owns 21,570 shares of the company’s stock, valued at approximately $268,977.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $13.51, for a total value of $67,550.00. Following the completion of the transaction, the chief executive officer now directly owns 70,180 shares of the company’s stock, valued at approximately $948,131.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,311 shares of company stock valued at $2,725,624. Insiders own 7.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in CYTK. Janus Henderson Group PLC bought a new stake in shares of Cytokinetics, during the 2nd quarter valued at about $32,488,000. Vanguard Group Inc. boosted its holdings in Cytokinetics, by 59.9% in the second quarter. Vanguard Group Inc. now owns 3,117,496 shares of the biopharmaceutical company’s stock worth $37,721,000 after acquiring an additional 1,168,151 shares in the last quarter. State Street Corp boosted its holdings in Cytokinetics, by 79.6% in the second quarter. State Street Corp now owns 1,674,335 shares of the biopharmaceutical company’s stock worth $20,259,000 after acquiring an additional 741,909 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Cytokinetics, by 128.9% in the second quarter. Acadian Asset Management LLC now owns 766,263 shares of the biopharmaceutical company’s stock worth $9,271,000 after acquiring an additional 431,457 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new position in Cytokinetics, in the second quarter worth approximately $5,172,000. Institutional investors own 70.94% of the company’s stock.
Shares of Cytokinetics, (NASDAQ:CYTK) opened at $13.60 on Friday. The company has a current ratio of 7.60, a quick ratio of 10.21 and a debt-to-equity ratio of 0.14.
Cytokinetics, (NASDAQ:CYTK) last announced its earnings results on Thursday, October 26th. The biopharmaceutical company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.04. Cytokinetics, had a negative return on equity of 62.64% and a negative net margin of 172.27%. The company had revenue of $6.18 million for the quarter, compared to analyst estimates of $5.35 million. equities analysts expect that Cytokinetics, will post -2.39 EPS for the current year.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Cytokinetics, from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Tuesday, July 11th. BidaskClub raised Cytokinetics, from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Morgan Stanley assumed coverage on Cytokinetics, in a research note on Monday, July 31st. They issued an “overweight” rating and a $24.00 price target for the company. HC Wainwright set a $26.00 price target on Cytokinetics, and gave the company a “buy” rating in a research note on Thursday, August 3rd. Finally, Cowen and Company reissued a “buy” rating and issued a $19.00 price target on shares of Cytokinetics, in a research note on Friday, August 4th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $21.60.
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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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