Cytokinetics Inc (NASDAQ:CYTK) finished Friday with a subtraction of -$1.34 to close at $29.46, a downside of -4.35 percent. An average of 1,133,500 shares of common stock have been traded in the last five days. There was a fall of -$1.49 in the past week, and it reached a new high 4 times over the past 12 months. The last 20 days have seen an average of 913,240 shares traded, while the 50-day average volume stands at 798,494.
CYTK stock has decreased by -16.35% in the last month. The company shares reached their 1-month lowest point of $28.96 on 09/28/23. With the stock rallying to its 52-week high on 01/03/23, shares of the company touched a low of $28.96 and a high of $52.40 in 52 weeks. It has reached a new high 1 time so far this year and lost -35.70% or -$16.36 in price. In spite of this, the price is down -43.78% from the 52-week high.
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Insider Transactions
CYTK stock investors should be aware that Cytokinetics Inc (CYTK) stock had its last reported insider trading activity 16 days ago on Sep 14. In this transaction, the insider spent $87,150. President & CEO, Blum Robert I, disposed of 12,500 shares at a price of $34.90 on Sep 13. The insider now owns more than $436,206 worth of shares. Prior to that, President & CEO Blum Robert I went on to Sale 12,500 shares at $33.99 each on Aug 25. An amount of $424,875 was transacted.
Valuation Metrics
Cytokinetics Inc (CYTK) stock’s beta is 0.78. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 284.24.
Financial Health
The quick ratio of Cytokinetics Inc for the three months ended June 29 was 8.94, and the current ratio was 8.94, indicating that the company is able to meet its debt obligations. Its gross profit as reported stood at $418.79 million compared to revenue of $94.59 million.
Earnings Surprise
For the three-month period that ended June 29, Cytokinetics Inc had $62.49 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$128.64 million in the quarter, while revenues of -$131.29 million were grew 84.59%. The analyst consensus anticipated Cytokinetics Inc’s latest quarter earnings to come in at -$1.15 per share, but it turned out to be -$1.34, a -16.50% surprise. For the quarter, EBITDA amounted to -$120.19 million. Shareholders own equity worth $96.0 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Cytokinetics Inc (CYTK) price momentum. RSI 9-day as of the close on 29 September was 25.85%, suggesting the stock is oversold, with historical volatility in this time frame at 30.82%.
As of today, CYTK’s price is $30.03 -4.81% or -$1.49 from its 5-day moving average. CYTK is currently trading -15.68% lower than its 20-day SMA and -23.30% lower than its 100-day SMA. However, the stock’s current price level is -9.07% below the SMA50 and -17.64% below the SMA200.
The stochastic %K and %D were 12.23% and 8.35%, respectively, and the average true range (ATR) was 1.33. With the 14-day stochastic at 7.92% and the average true range at 1.28, the RSI (14) stands at 31.32%. The stock has reached -0.75 on the 9-day MACD Oscillator while the 14-day reading was at -2.04.
Analyst Ratings
SVB Securities launched coverage on Cytokinetics Inc (NASDAQ: CYTK) in its analyst report released on August 15, 2023. The firm assigned the stock an Outperform rating. The consensus rating for Cytokinetics Inc (CYTK) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell CYTK, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 13 others rate it as a “buy”.
What is CYTK’s price target for the next 12 months?
Analysts predict a range of price targets between $41.00 and $80.00, with a median target of $60.00. Taking a look at these predictions, the average price target given by analysts for Cytokinetics Inc (CYTK) stock is $60.81.
