Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cytokinetics Inc shares valued at $2,422,918 were sold by Malik Fady Ibraham on Apr 09 ’24. At $74.31 per share, Malik Fady Ibraham sold 32,605 shares. The insider’s holdings dropped to 138,567 shares worth approximately $9.28 million following the completion of this transaction.
Also, Malik Fady Ibraham sold 32,604 shares, netting a total of over 2,202,606 in proceeds. Following the sale of shares at $67.56 each, the insider now holds 138,973 shares.
Before that, HENDERSON JOHN T had sold 5,000 shares from its account. In a trade valued at $382,400, the Director traded Cytokinetics Inc shares for $76.48 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $2.86 million.
As published in a research note from UBS on January 24, 2024, Cytokinetics Inc [CYTK] has been rated down from a Buy to a Neutral and the price target has been revised to $92 from $61. Analysts at Morgan Stanley downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in early January. As of November 09, 2023, Goldman has initiated its “Buy” rating for CYTK. Earlier on November 07, 2023, B. Riley Securities initiated its rating. Their recommendation was “a Buy” for CYTK stock.
Analyzing CYTK Stock Performance
During the last five days, there has been a drop of approximately -8.46%. Over the course of the year, Cytokinetics Inc shares have dropped approximately -19.75%. Shares of the company reached a 52-week high of $110.25 on 01/08/24 and a 52-week low of $61.33 on 03/14/24. A 50-day SMA is recorded $71.47, while a 200-day SMA reached $50.31. Nevertheless, trading volume fell to 0.89 million shares from 0.97 million shares the previous day.
Support And Resistance Levels for Cytokinetics Inc (CYTK)
According to the 24-hour chart, there is a support level at 66.38, which, if violated, would cause prices to drop to 65.77. In the upper region, resistance lies at 68.07. The next price resistance is at 69.15. RSI (Relative Strength Index) is 41.57 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.24, which suggests the price will decrease in the coming days. Percent R is at 95.09%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
