Cytokinetics Incorporated (CYTK) may enjoy gains as insiders got busy in the recent days


Cytokinetics Incorporated’s filing revealed that its President & CEO Blum Robert I unloaded Company’s shares for reported $0.42 million on Nov 02. In the deal valued at $42.17 per share,10,000 shares were sold. As a result of this transaction, Blum Robert I now holds 406,089 shares worth roughly $ 15.33 million.

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Then, Blum Robert I sold 10,000 shares, generating $478,600 in total proceeds. Upon selling the shares at $47.86, the President & CEO now owns 406,089 shares.

Before that, Malik Fady Ibraham sold 21,513 shares. Cytokinetics Incorporated shares valued at $1,017,135 were divested by the EVP Research & Development at a price of $47.28 per share. As a result of the transaction, Malik Fady Ibraham now holds 168,346 shares, worth roughly $6.36 million.

UBS initiated its Cytokinetics Incorporated [CYTK] rating to a Buy in a research note published on Friday, October 11, 2022; the price target was $80. PT values the company’s stock at a premium of 52.81 to its Friday closing price. A number of analysts have revised their coverage, including Goldman’s analysts, who began to cover the stock in late January with a ‘”a Buy”‘ rating. Oppenheimer began covering CYTK with “an Outperform” recommendation on December 22, 2021. JP Morgan started covering the stock on December 10, 2021. It rated CYTK as “an Overweight”.

Price Performance Review of CYTK

On Friday, Cytokinetics Incorporated [NASDAQ:CYTK] saw its stock fall -5.03% to $37.75. On the same session, the stock had its day’s lowest price of $36.38, but rose to a high of $40.40. Over the last five days, the stock has lost -12.70%. Cytokinetics Incorporated shares have fallen nearly -17.18% since the year began. Nevertheless, the stocks have fallen -3.13% over the past one year. While a 52-week high of $55.80 was reached on 09/09/22, a 52-week low of $29.26 was recorded on 01/24/22. SMA at 50 days reached $48.96, while 200 days put it at $42.31. A total of 1.83 million shares were traded, compared to the trading of 0.55 million shares in the previous session.

Levels Of Support And Resistance For CYTK Stock

The 24-hour chart illustrates a support level at 35.95, which if violated will result in even more drops to 34.16. On the upside, there is a resistance level at 39.97. A further resistance level may holdings at 42.20. The Relative Strength Index (RSI) on the 14-day chart is 26.95, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -4.24, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 89.68%. Stochastics %K at 8.95% indicates the stock is a buying.

How much short interest is there in Cytokinetics Incorporated?

A steep rise in short interest was recorded in Cytokinetics Incorporated stocks on Jul 14, 2022, growing by 3.28 million shares to a total of 11.81 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 8.53 million shares. There was a rise of 27.77%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 19.94% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.94.

Cytokinetics Incorporated [CYTK] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 12,505,318 shares, or roughly 13.28% of the outstanding CYTK shares. In other words, the investor’s shares have risen by 200,896 from its previous 13-F filing of 12304422.0. Additionally, Fidelity Management & Research Co increased 0.71% of its stake after which the total value it holdings stand at $600,358,291, while The Vanguard Group, Inc. added 2.58% of its stake to hold $424.14 million in the firm. Over the last quarter, Citadel Advisors LLC purchased 4,400,674 shares of Cytokinetics Incorporated, while SSgA Funds Management, Inc. bought 307,394 shares. At present, Wellington Management Co. LLP is holding 3,868,632 shares valued at $187.44 million. Polar Capital LLP owned 3,026,648 shares of the company at the time of its most recent 13F filing, worth $146.64 million.

The most recent change occurred on October 07, 2021 when Jefferies began covering the stock and recommended ‘”a Buy”‘ rating along with a $75 price target.


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