As of Friday close, Cytokinetics Incorporated’s (NASDAQ:CYTK) stock was up $0.56, moving up 1.76 percent to $32.44. The average number of shares traded per day over the past five days has been 757,300 shares. 3 times new highs have been achieved over the past 5 days, with a -$0.31 fall in that time frame. In the last twenty days, the average volume was 789,770, while in the previous 50 days, it was 886,660.
Since last month, CYTK stock rose 0.12%. Shares of the company fell to $30.66 on 08/02/23, the lowest level in the past month. A 52-week high of $55.80 was reached on 01/03/23 after having rallying from a 52-week low of $30.66. Since the beginning of this year, CYTK’s stock price has dropped by -29.20% or -$13.38, and marked a new high 1 time. However, the stock has declined by -41.86% since its 52-week high.
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CYTK stock investors should be aware that Cytokinetics Incorporated (CYTK) stock had its last reported insider trading activity 8 days ago on Aug 11. Blum Robert I, the President & CEO of the company, disposed of 12,500 shares for $32.37 on Aug 11. It resulted in a $404,589 divestment by the insider. Malik Fady Ibraham sold 2,500 shares at an average price of $31.70 on Aug 10. The insider now owns 158,164 shares following the transaction. On Aug 01, President & CEO Blum Robert I sold 12,500 shares at $32.63 apiece. The transaction was valued at $407,856.
Financial Health
In the three months ended June 29, Cytokinetics Incorporated’s quick ratio stood at 8.90, while its current ratio was 8.90, showing that the company is able to pay off its debt. Based on annual data, CYTK earned $418.79 million in gross profit and brought in $94.59 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -69.30%. Return on equity (ROE) for the past 12 months was 314.60%.
In Cytokinetics Incorporated’s quarter-end financial report for June 29, it reported total debt of $62.49 million against cash and short-term investments of $497.08 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. CYTK’s revenue fell -10126.44% to $4.61 million during the quarter, while net income inched up to $0.87 million. While analysts expected Cytokinetics Incorporated to report -$1.15 quarterly earnings, the actual figure was -$1.34 per share, beating the consensus estimate by -16.50%. During the quarter, the company generated -$120.19 million in EBITDA. The liabilities of Cytokinetics Incorporated were 1.11 billion at the end of its most recent quarter ended June 29, and its total debt was $749.93 million. The value of shareholders’ equity is $96.0 million.
Technical Picture
This quick technical analysis looks at Cytokinetics Incorporated’s (CYTK) price momentum. With a historical volatility rate of 31.61%, the RSI 9-day stood at 49.21% on 18 August.
With respect to its five-day moving average, the current Cytokinetics Incorporated price is down by -0.95% percent or -$0.31. At present, CYTK shares trade -0.86% below its 20-day simple moving average and -6.05% percent below its 100-day simple moving average. However, the stock is currently trading approximately -16.24% below its SMA50 and -24.98% below its SMA200.
Stochastic coefficient K was 42.61% and Stochastic coefficient D was 44.57%, while ATR was 1.28. Given the Stochastic reading of 41.30% for the 14-day period, the RSI (14) reading has been calculated as 47.68%. As of today, the MACD Oscillator reading stands at 0.13, while the 14-day reading stands at 0.27.
Analyst Ratings
SVB Securities launched its rating on Cytokinetics Incorporated (NASDAQ: CYTK) to an Outperform in a note to investors on August 15, 2023. Cytokinetics Incorporated (CYTK) has been rated Buy by analysts. According to 0 brokerage firms, CYTK is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 2 analysts rate Cytokinetics Incorporated stock as buy, with 13 recommending it as overweight.
With a median target price of $60.00, the current consensus forecast for the stock is $41.00 – $80.00. Based on these forecasts, analysts predict Cytokinetics Incorporated (CYTK) will achieve an average price target of $60.81.
