Analyzing the Reasons Behind CYTK's Stock Price Plunge

By Naomi Wentworth • Monday, March 04 10:13 • Permanent Link

Cytokinetics stock is trading -27.51% below its average target price of $95.88 after dropping -6.1% during today's morning session. Analysts are giving the Mid-Cap Pharmaceutical company an average rating of buy and target prices ranging from $60.0 to $122.0 per share.

Cytokinetics has an elevated short interest of 23.8%. The stock's short ratio, or the number of days needed for all shorts to cover their positions, is 6.47. Only 0.85% of the company's shares are owned by insiders, indicating that management does not have a deep alignment of interest with its shareholders. 113.8% of Cytokinetics shares are held by institutional investors, which indicates a high level of confidence in the stock.

Institutions Invested in Cytokinetics

Date Reported	Holder	Percentage	Shares	Value
2023-12-31	Blackrock Inc.	16%	16,102,070	$1,119,093,865
2023-12-31	FMR, LLC	13%	13,007,783	$904,040,918
2023-12-31	Vanguard Group Inc	11%	11,016,889	$765,673,785
2023-12-31	Wellington Management Group, LLP	6%	6,488,500	$450,950,750
2023-12-31	State Street Corporation	6%	5,893,358	$409,588,381
2023-12-31	Price (T.Rowe) Associates Inc	3%	3,244,250	$225,475,375
2023-12-31	Janus Henderson Group PLC	2%	2,568,405	$178,504,147
2023-12-31	RTW Investments LP	2%	2,525,080	$175,493,060
2023-12-31	Morgan Stanley	2%	2,401,582	$166,909,949
2023-12-31	T. Rowe Price Investment Management, Inc.	2%	2,229,485	$154,949,207

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.