Taking a Closer Look At Cytokinetics Incorporated (CYTK) Following Its Recent Trade


Cytokinetics Incorporated’s recent filing unveils that its President & CEO Blum Robert I unloaded Company’s shares for reported $0.42 million on Aug 25. In the deal valued at $33.99 per share,12,500 shares were sold. As a result of this transaction, Blum Robert I now holds 441,417 shares worth roughly $ 15.89 million.

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Then, WIERENGA WENDALL sold 6,020 shares, generating $192,760 in total proceeds. Upon selling the shares at $32.02, the Director now owns 18,205 shares.

Before that, Blum Robert I sold 12,500 shares. Cytokinetics Incorporated shares valued at $404,589 were divested by the President & CEO at a price of $32.37 per share. As a result of the transaction, Blum Robert I now holds 441,417 shares, worth roughly $15.89 million.

SVB Securities initiated its Cytokinetics Incorporated [CYTK] rating to an Outperform in a research note published on Friday, August 15, 2023; the price target was $58. PT values the company’s stock at a premium of 37.93 to its Friday closing price.

Price Performance Review of CYTK

On Friday, Cytokinetics Incorporated [NASDAQ:CYTK] saw its stock jump 3.03% to $36.00. On the same session, the stock had its day’s lowest price of $35.30, but rose to a high of $36.57. Over the last five days, the stock has gained 3.27%. Cytokinetics Incorporated shares have fallen nearly -21.43% since the year began. Nevertheless, the stocks have fallen -29.45% over the past one year. While a 52-week high of $55.80 was reached on 01/03/23, a 52-week low of $30.66 was recorded on 08/02/23. SMA at 50 days reached $33.42, while 200 days put it at $38.10. A total of 0.72 million shares were traded, compared to the trading of 0.6 million shares in the previous session.

Levels Of Support And Resistance For CYTK Stock

The 24-hour chart illustrates a support level at 35.34, which if violated will result in even more drops to 34.69. On the upside, there is a resistance level at 36.61. A further resistance level may holdings at 37.23. The Relative Strength Index (RSI) on the 14-day chart is 62.50, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.41, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 11.39%. Stochastics %K at 81.44% indicates the stock is a selling.

How much short interest is there in Cytokinetics Incorporated?

A steep rise in short interest was recorded in Cytokinetics Incorporated stocks on Aug 14, 2023, dropping by 10000.0 shares to a total of 10.09 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 10.1 million shares. There was a decline of -0.1%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 18.01% of the overall stock float, the days-to-cover ratio (short ratio) fell to 12.31.

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

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 14,170,894 shares, or roughly 14.82% of the outstanding CYTK shares. In other words, the investor’s shares have risen by 488,347 from its previous 13-F filing of 13682547.0. Additionally, Fidelity Management & Research Co decreased -2.40% of its stake after which the total value it holdings stand at $360,205,246, while The Vanguard Group, Inc. added 0.52% of its stake to hold $333.74 million in the firm. Over the last quarter, Wellington Management Co. LLP purchased 744,182 shares of Cytokinetics Incorporated, while SSgA Funds Management, Inc. bought 337,680 shares. At present, American Century Investment Manag is holding 2,724,822 shares valued at $90.87 million. Polar Capital LLP owned 2,654,445 shares of the company at the time of its most recent 13F filing, worth $88.53 million.

According to FactSet, Cytokinetics Incorporated’s share price will average $60.81 in the next year, based on opinions of analysts polled by the firm. This is up nearly 71.72 percent from its previous closing price of $34.94. Analysts expect Cytokinetics Incorporated stock to reach the higher price of $80.00, while the lowest price estimate is $41.00. However, 16 analysts have rated CYTK stock as a Buy in their predictions for 2023.


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