10 Best High Short Interest Stocks to Buy Now

3. Cytokinetics Inc. (NASDAQ:CYTK)

Short % of Float As of April 16: 18.43%

Number of Hedge Fund Holders: 66

Cytokinetics Inc. (NASDAQ:CYTK) is a late-stage biopharmaceutical company that discovers, develops, and commercializes muscle activators and inhibitors as potential treatments for debilitating diseases. It develops small-molecule drug candidates that are primarily engineered to impact muscle function and contractility.

The company’s main focus for near-term growth is aficamten, which is a cardiac myosin inhibitor. In anticipation of potential approval, Cytokinetics is focused on commercial readiness activities in the US, while also laying the groundwork for its go-to-market strategy in Europe. It’s actively responding to FDA questions, preparing for clinical site inspections, and has recently submitted its 120-day safety update.  Cytokinetics plans to commercialize aficamten itself in the US and Western Europe.

In Q4 2024, Sanofi acquired the rights to develop and commercialize aficamten in China, with Cytokinetics eligible to receive up to $150 million in development and commercial milestone payments and royalties in the low to high teens on sales. In November 2024, a collaboration with Bayer granted Cytokinetics Inc. (NASDAQ:CYTK) a license agreement for aficamten in Japan, which included a EUR50 million upfront payment.