Cytokinetics (CYTK) Receiving Somewhat Favorable Press Coverage, Study Shows
News coverage about Cytokinetics (NASDAQ:CYTK) has been trending somewhat positive on Tuesday, according to Accern Sentiment Analysis. The research group identifies negative and positive media coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Cytokinetics earned a coverage optimism score of 0.08 on Accern’s scale. Accern also assigned media stories about the biopharmaceutical company an impact score of 45.9723139609757 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Here are some of the media stories that may have impacted Accern Sentiment’s rankings:
- Zacks: Brokerages Expect Cytokinetics, Inc. (CYTK) Will Announce Earnings of -$0.71 Per Share (americanbankingnews.com)
- Cytokinetics, Incorporated (CYTK) year to date performance remained at 22.09% – Nasdaq Fortune (press release) (nasdaqfortune.com)
- Cytokinetics, Inc. (CYTK) Receives Consensus Recommendation of “Buy” from Analysts (americanbankingnews.com)
- Cytokinetics, Inc. (CYTK) Expected to Post Quarterly Sales of $4.83 Million (americanbankingnews.com)
Several equities research analysts have recently commented on the stock. Seaport Global Securities reaffirmed a “buy” rating and issued a $24.00 target price on shares of Cytokinetics in a research report on Friday, October 6th. Needham & Company LLC cut shares of Cytokinetics from a “strong-buy” rating to a “buy” rating and lowered their price target for the company from $22.00 to $12.00 in a research report on Wednesday, November 29th. HC Wainwright reissued a “buy” rating and set a $26.00 price target on shares of Cytokinetics in a research report on Friday, October 27th. TheStreet lowered shares of Cytokinetics from a “c” rating to a “d” rating in a research note on Friday, October 27th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $10.00 price objective on shares of Cytokinetics in a research note on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $17.91.
In other news, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $13.51, for a total value of $67,550.00. Following the transaction, the chief executive officer now owns 70,180 shares of the company’s stock, valued at $948,131.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Fady Ibraham Malik sold 7,321 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $13.39, for a total transaction of $98,028.19. Following the completion of the transaction, the executive vice president now directly owns 47,540 shares in the company, valued at approximately $636,560.60. The disclosure for this sale can be found here. Insiders have sold 19,290 shares of company stock worth $245,084 in the last ninety days. Insiders own 7.20% of the company’s stock.
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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