This afternoon we watched Cytokinetics rise 2.4% to a price of $67.63 per share. The Mid-Cap Pharmaceutical company is now trading -29.29% below its average target price of $95.65. Analysts have set target prices ranging from $60.0 to $122.0 per share for Cytokinetics, and have given the stock an average rating of buy.
The stock has an unusually large proportion of its shares sold short at 23.1%, and a short ratio of 7.52. Only 0.88% of the company's shares are owned by insiders, indicating that management does not have a deep alignment of interest with its shareholders. Finally, we also note that a significant number of institutional investors are invested in the stock, with 113.8% of Cytokinetics's shares being owned by this investor type.
Institutions Invested in Cytokinetics
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-12-31 | Blackrock Inc. | 16% | 16,102,070 | $1,088,982,949 |
| 2023-12-31 | FMR, LLC | 13% | 13,007,783 | $879,716,328 |
| 2023-12-31 | Vanguard Group Inc | 11% | 11,016,889 | $745,072,172 |
| 2023-12-31 | Wellington Management Group, LLP | 6% | 6,488,500 | $438,817,237 |
| 2023-12-31 | State Street Corporation | 6% | 5,893,358 | $398,567,785 |
| 2023-12-31 | Price (T.Rowe) Associates Inc | 3% | 3,244,250 | $219,408,618 |
| 2023-12-31 | Janus Henderson Group PLC | 2% | 2,568,405 | $173,701,223 |
| 2023-12-31 | RTW Investments LP | 2% | 2,525,080 | $170,771,153 |
| 2023-12-31 | Morgan Stanley | 2% | 2,401,582 | $162,418,984 |
| 2023-12-31 | T. Rowe Price Investment Management, Inc. | 2% | 2,229,485 | $150,780,064 |
Besides an analyst consensus of strong upside potential, other market factors point to there being mixed market sentiment on Cytokinetics.
