Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Cytokinetics Inc shares valued at $278,050 were sold by Blum Robert I on Oct 09 ’24. At $55.61 per share, Blum Robert I sold 5,000 shares. The insider’s holdings dropped to 397,456 shares worth approximately $21.12 million following the completion of this transaction.
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Also, ROBERT BLUM purchased 5,000 shares, netting a total of over 278,062 in proceeds.
Before that, Malik Fady Ibraham had sold 7,300 shares from its account. In a trade valued at $380,297, the EVP Research & Development traded Cytokinetics Inc shares for $52.10 each. Upon closing the transaction, the insider’s holdings decreased to 7,300 shares, worth approximately $6.32 million.
As published in a research note from Goldman on August 13, 2024, Cytokinetics Inc [CYTK] has been rated down from a Buy to a Neutral and the price target has been revised to $60 from $85. Analysts at UBS downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late January. As of January 05, 2024, Morgan Stanley has decreased its “an Overweight” rating to a “an Equal-weight” for CYTK. Earlier on November 09, 2023, Goldman 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 -4.60%. Over the course of the year, Cytokinetics Inc shares have dropped approximately -36.34%. Shares of the company reached a 52-week high of $110.25 on 01/08/24 and a 52-week low of $46.25 on 05/28/24. A 50-day SMA is recorded $55.05, while a 200-day SMA reached $64.09. Nevertheless, trading volume fell to 0.94 million shares from 0.85 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 52.69, which, if violated, would cause prices to drop to 52.24. In the upper region, resistance lies at 53.87. The next price resistance is at 54.59. RSI (Relative Strength Index) is 44.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.38, which suggests the price will decrease in the coming days. Percent R is at 69.54%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
