Cytokinetics Inc’s filing revealed that its EVP Research & Development Malik Fady Ibraham unloaded Company’s shares for reported $2.42 million on Apr 09 ’24. In the deal valued at $74.31 per share,32,605 shares were sold. As a result of this transaction, Malik Fady Ibraham now holds 138,567 shares worth roughly $9.42 million.
Then, Malik Fady Ibraham sold 32,604 shares, generating $2,202,606 in total proceeds. Upon selling the shares at $67.56, the EVP Research & Development now owns 138,973 shares.
Before that, HENDERSON JOHN T sold 5,000 shares. Cytokinetics Inc shares valued at $382,400 were divested by the Director at a price of $76.48 per share. As a result of the transaction, HENDERSON JOHN T now holds 42,632 shares, worth roughly $2.9 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 fall -4.97% to $68.00. Over the last five days, the stock has lost -8.34%. Cytokinetics Inc shares have fallen nearly -18.55% since the year began. Nevertheless, the stocks have risen 89.26% 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 $72.23, while 200 days put it at $49.78. A total of 1.52 million shares were traded, compared to the trading of 0.79 million shares in the previous session.
Levels Of Support And Resistance For CYTK Stock
The 24-hour chart illustrates a support level at 66.43, which if violated will result in even more drops to 64.87. On the upside, there is a resistance level at 70.58. A further resistance level may holdings at 73.17. The Relative Strength Index (RSI) on the 14-day chart is 43.14, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.93, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 93.34%. Stochastics %K at 44.35% indicates the stock is a holding.
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.
