Cytokinetics Incorporated’s recent filing unveils that its VP, Chief Accounting Officer Wong Robert unloaded Company’s shares for reported $0.1 million on Feb 21. In the deal valued at $45.21 per share,2,234 shares were sold. As a result of this transaction, Wong Robert now holds 24,789 shares worth roughly $ 1.06 million.
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Then, Malik Fady Ibraham sold 7,000 shares, generating $306,180 in total proceeds. Upon selling the shares at $43.74, the EVP Research & Development now owns 156,589 shares.
Before that, Malik Fady Ibraham sold 4,000 shares. Cytokinetics Incorporated shares valued at $174,920 were divested by the EVP Research & Development at a price of $43.73 per share. As a result of the transaction, Malik Fady Ibraham now holds 152,589 shares, worth roughly $6.53 million.
BofA Securities initiated its Cytokinetics Incorporated [CYTK] rating to a Neutral in a research note published on Friday, February 17, 2023; the price target was $49. PT values the company’s stock at a premium of 12.63 to its Friday closing price. A number of analysts have revised their coverage, including Needham’s analysts, who remained covering the stock and in late December has reiterated a ‘”a Buy”‘ rating for it. Truist began covering CYTK with “Buy” recommendation on December 20, 2022. UBS started covering the stock on October 11, 2022. It rated CYTK as “a Buy”.
Price Performance Review of CYTK
On Friday, Cytokinetics Incorporated [NASDAQ:CYTK] saw its stock fall -0.65% to $42.81. On the same session, the stock had its day’s lowest price of $42.30, but rose to a high of $43.50. Over the last five days, the stock has lost -2.99%. Cytokinetics Incorporated shares have fallen nearly -6.57% since the year began. Nevertheless, the stocks have risen 27.07% over the past one year. While a 52-week high of $55.80 was reached on 01/03/23, a 52-week low of $30.27 was recorded on 01/12/23. SMA at 50 days reached $43.42, while 200 days put it at $44.32. A total of 0.74 million shares were traded, compared to the trading of 0.68 million shares in the previous session.
Levels Of Support And Resistance For CYTK Stock
The 24-hour chart illustrates a support level at 42.24, which if violated will result in even more drops to 41.67. On the upside, there is a resistance level at 43.44. A further resistance level may holdings at 44.07. The Relative Strength Index (RSI) on the 14-day chart is 48.03, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.11, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 68.17%. Stochastics %K at 25.91% indicates the stock is a holding.
How much short interest is there in Cytokinetics Incorporated?
A steep rise in short interest was recorded in Cytokinetics Incorporated stocks on Jan 30, 2023, dropping by 60000.0 shares to a total of 9.98 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 10.04 million shares. There was a decline of -0.6%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 14.64% of the overall stock float, the days-to-cover ratio (short ratio) fell to 11.5.
Cytokinetics Incorporated [CYTK] – Who Are The Largest Shareholders?
In filings from BlackRock Fund Advisors, it is revealed that the company now owns 13,985,363 shares, or roughly 14.78% of the outstanding CYTK shares. In other words, the investor’s shares have risen by 1,480,045 from its previous 13-F filing of 12505318.0. Additionally, Fidelity Management & Research Co decreased -7.18% of its stake after which the total value it holdings stand at $491,954,933, while The Vanguard Group, Inc. added 0.73% of its stake to hold $418.39 million in the firm. Over the last quarter, Wellington Management Co. LLP purchased 1,706,244 shares of Cytokinetics Incorporated, while SSgA Funds Management, Inc. bought 789,789 shares. At present, Lord, Abbett & Co. LLC is holding 2,924,311 shares valued at $124.22 million. Polar Capital LLP owned 2,724,777 shares of the company at the time of its most recent 13F filing, worth $115.75 million.
According to FactSet, Cytokinetics Incorporated’s share price will average $61.81 in the next year, based on opinions of analysts polled by the firm. This is up nearly 36.92 percent from its previous closing price of $43.09. Analysts expect Cytokinetics Incorporated stock to reach the higher price of $80.00, while the lowest price estimate is $49.00. However, 16 analysts have rated CYTK stock as a Buy in their predictions for 2023. The most recent change occurred on January 28, 2022 when Goldman began covering the stock and recommended ‘”a Buy”‘ rating along with a $74 price target.