Cytokinetics Inc’s recent filing unveils that its EVP Research & Development Malik Fady Ibraham unloaded Company’s shares for reported $2.2 million on Mar 05 ’24. In the deal valued at $67.56 per share,32,604 shares were sold. As a result of this transaction, Malik Fady Ibraham now holds 138,973 shares worth roughly $10.31 million.
Then, HENDERSON JOHN T sold 5,000 shares, generating $382,400 in total proceeds. Upon selling the shares at $76.48, the Director now owns 42,632 shares.
Before that, Blum Robert I sold 12,500 shares. Cytokinetics Inc shares valued at $960,625 were divested by the President & CEO at a price of $76.85 per share. As a result of the transaction, Blum Robert I now holds 441,797 shares, worth roughly $32.78 million.
UBS downgraded its Cytokinetics Inc [CYTK] rating to a Neutral from a a Buy in a research note published on January 24, 2024; the price target was increased to $92 from $61. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who decreased its forecast for the stock in early January from “an Overweight” to “an Equal-weight”. Goldman began covering CYTK with “Buy” recommendation on November 09, 2023. B. Riley Securities started covering the stock on November 07, 2023. It rated CYTK as “a Buy”.
Price Performance Review of CYTK
On Monday, Cytokinetics Inc [NASDAQ:CYTK] saw its stock jump 2.04% to $74.19. Over the last five days, the stock has gained 1.60%. Cytokinetics Inc shares have fallen nearly -11.14% since the year began. Nevertheless, the stocks have risen 105.17% over the past one year. While a 52-week high of $110.25 was reached on 01/08/24, a 52-week low of $25.98 was recorded on 03/14/24. SMA at 50 days reached $73.00, while 200 days put it at $48.83. A total of 0.98 million shares were traded, compared to the trading of 0.59 million shares in the previous session.
Levels Of Support And Resistance For CYTK Stock
The 24-hour chart illustrates a support level at 73.03, which if violated will result in even more drops to 71.88. On the upside, there is a resistance level at 74.86. A further resistance level may holdings at 75.54. The Relative Strength Index (RSI) on the 14-day chart is 58.41, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.97, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 4.35%. Stochastics %K at 77.83% indicates the stock is a holding.
How much short interest is there in Cytokinetics Inc?
A steep rise in short interest was recorded in Cytokinetics Inc stocks on Mar 15, 2024, growing by 0.97 million shares to a total of 14.8 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 13.83 million shares. There was a rise of 6.55%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 23.47% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.94.
The most recent change occurred on August 15, 2023 when SVB Securities began covering the stock and recommended ‘”an Outperform”‘ rating along with a $58 price target.
