Cytokinetics Jumps 11.9% – Potential for Further Growth?

Cytokinetics stock is trading -34.23% below its average target price of $82.35 after marking a 11.9% 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 $107.0 per share.

The stock has an unusually large proportion of its shares sold short at 22.1%, and a short ratio of 10.3. Only 0.53% 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 105.3% of Cytokinetics's shares being owned by this investor type.

Institutions Invested in Cytokinetics

Date Reported Holder Percentage Shares Value
2024-03-31 Blackrock Inc. 12% 12,414,773 $672,384,103
2024-03-31 FMR, LLC 10% 10,901,143 $590,405,903
2024-03-31 Vanguard Group Inc 10% 9,997,076 $541,441,634
2024-03-31 T. Rowe Price Investment Management, Inc. 5% 5,121,589 $277,385,259
2024-03-31 Bank of America Corporation 5% 4,777,628 $258,756,331
2024-03-31 State Street Corporation 4% 4,520,358 $244,822,588
2024-03-31 Wellington Management Group, LLP 4% 3,981,460 $215,635,872
2024-03-31 Price (T.Rowe) Associates Inc 3% 2,930,948 $158,740,143
2024-03-31 Marshall Wace LLP 2% 2,556,803 $138,476,450
2024-03-31 RTW Investments LP 2% 2,525,080 $136,758,332

Besides an analyst consensus of strong upside potential, other market factors point to there being mixed market sentiment on Cytokinetics.

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.