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UBS downgrades Cytokinetics Inc (CYTK) rating to a Neutral

Cytokinetics Inc’s recently made public that its Director HENDERSON JOHN T unloaded Company’s shares for reported $0.68 million on Apr 25 ’24. In the deal valued at $64.54 per share,10,562 shares were sold. As a result of this transaction, HENDERSON JOHN T now holds 32,070 shares worth roughly $2.01 million.

Then, Malik Fady Ibraham sold 32,605 shares, generating $2,422,918 in total proceeds. Upon selling the shares at $74.31, the EVP Research & Development now owns 138,567 shares.

Before that, Malik Fady Ibraham sold 32,604 shares. Cytokinetics Inc shares valued at $2,202,606 were divested by the EVP Research & Development at a price of $67.56 per share. As a result of the transaction, Malik Fady Ibraham now holds 138,973 shares, worth roughly $8.69 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 -4.30% to $62.53. Over the last five days, the stock has lost -5.67%. Cytokinetics Inc shares have fallen nearly -25.10% since the year began. Nevertheless, the stocks have risen 65.16% 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 $69.76, while 200 days put it at $51.38. A total of 1.29 million shares were traded, compared to the trading of 0.81 million shares in the previous session.

Levels Of Support And Resistance For CYTK Stock

The 24-hour chart illustrates a support level at 61.49, which if violated will result in even more drops to 60.44. On the upside, there is a resistance level at 64.29. A further resistance level may holdings at 66.04. The Relative Strength Index (RSI) on the 14-day chart is 34.86, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.63, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 97.52%. Stochastics %K at 7.43% indicates the stock is a buying.

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.

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