Traders Purchase High Volume of Call Options on Cytokinetics (NASDAQ:CYTK)

Cytokinetics, Incorporated (NASDAQ:CYTK) was the target of some unusual options trading activity on Monday. Traders acquired 5,619 call options on the stock. This is an increase of approximately 103% compared to the typical volume of 2,772 call options.

Insider Activity

In related news, Director Edward M. Md Kaye sold 28,064 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $66.72, for a total value of $1,872,430.08. Following the transaction, the director directly owned 9,977 shares in the company, valued at approximately $665,665.44. This represents a 73.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Fady Ibraham Malik sold 2,200 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $61.24, for a total value of $134,728.00. Following the completion of the transaction, the executive vice president owned 138,552 shares of the company’s stock, valued at $8,484,924.48. The trade was a 1.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 168,494 shares of company stock worth $10,811,018. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cytokinetics

Hedge funds have recently bought and sold shares of the stock. Hudson Bay Capital Management LP raised its stake in Cytokinetics by 15.4% in the 3rd quarter. Hudson Bay Capital Management LP now owns 182,131 shares of the biopharmaceutical company’s stock valued at $10,010,000 after purchasing an additional 24,345 shares during the last quarter. Swiss Life Asset Management Ltd purchased a new stake in shares of Cytokinetics during the third quarter worth about $283,000. CIBC Private Wealth Group LLC raised its position in shares of Cytokinetics by 8.1% in the third quarter. CIBC Private Wealth Group LLC now owns 3,484 shares of the biopharmaceutical company’s stock valued at $191,000 after buying an additional 261 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Cytokinetics during the third quarter valued at approximately $684,000. Finally, Coldstream Capital Management Inc. acquired a new stake in Cytokinetics during the third quarter worth approximately $261,000.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK opened at $63.29 on Wednesday. The stock has a market cap of $7.74 billion, a P/E ratio of -10.06 and a beta of 0.58. The firm has a fifty day moving average price of $62.87 and a 200 day moving average price of $49.10. Cytokinetics has a 1-year low of $29.31 and a 1-year high of $70.98.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.59) by $0.05. The business had revenue of $1.94 million during the quarter, compared to analysts’ expectations of $6.05 million. Cytokinetics’s revenue for the quarter was up 318.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.36) EPS. Sell-side analysts expect that Cytokinetics will post -5.24 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on CYTK shares. Leerink Partners set a $83.00 price objective on shares of Cytokinetics in a report on Monday. Royal Bank Of Canada boosted their price target on shares of Cytokinetics from $87.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday. JMP Securities restated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Tuesday, September 2nd. Citigroup reiterated a “market outperform” rating on shares of Cytokinetics in a report on Monday. Finally, Needham & Company LLC upped their price target on Cytokinetics from $72.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday. Fifteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Cytokinetics presently has an average rating of “Moderate Buy” and an average target price of $83.61.

More Cytokinetics News

Here are the key news stories impacting Cytokinetics this week:

• Positive Sentiment: FDA approved Myqorzo (aficamten) for obstructive hypertrophic cardiomyopathy, turning Cytokinetics into a commercial-stage cardiology biotech and opening a new revenue runway — a primary driver behind the rally. Article Title
• Positive Sentiment: Multiple brokers lifted price targets and reiterated buy/outperform views (Barclays, Morgan Stanley, BofA, Needham, Citizens/JMP), signaling stronger analyst conviction on commercial prospects and supporting upside. Article Title
• Positive Sentiment: Unusually heavy call-option buying (about 5,619 calls, ~103% above typical daily volume) suggests traders are positioning for additional upside or near-term bullish moves. (Options volume report)
• Positive Sentiment: Analyst commentary highlights practical label advantages for MYQORZO vs. the incumbent (flexible dosing), and management targets substantial market share gains — commentary that supports a multi-quarter adoption story. Article Title
• Neutral Sentiment: Citizens maintained its Market Outperform rating on CYTK, which is supportive but not a new endorsement. Article Title
• Negative Sentiment: Insider selling: director Wendell Wierenga sold 20,000 shares at an average $66.14 (Dec. 22), trimming his stake ~38% — a potential short-term headwind or cautionary signal for some investors. SEC Filing

About Cytokinetics

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.