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 $232,617 were sold by WIERENGA WENDALL on Oct 28 ’24. At $52.25 per share, WIERENGA WENDALL sold 4,452 shares. The insider’s holdings dropped to 24,559 shares worth approximately $1.25 million following the completion of this transaction.
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Also, Malik Fady Ibraham sold 7,300 shares, netting a total of over 378,930 in proceeds. Following the sale of shares at $51.91 each, the insider now holds 114,920 shares.
Before that, FADY MALIK had added 7,300 shares to its account. In a trade valued at $378,939, the Officer bought Cytokinetics Inc shares for $51.91 each.
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 -2.67%. Over the course of the year, Cytokinetics Inc shares have dropped approximately -38.91%. 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 $54.38, while a 200-day SMA reached $61.61. Nevertheless, trading volume fell to 0.99 million shares from 0.57 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 50.53, which, if violated, would cause prices to drop to 50.06. In the upper region, resistance lies at 51.47. The next price resistance is at 51.94. RSI (Relative Strength Index) is 38.57 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.03, which suggests the price will decrease in the coming days. Percent R is at 91.56%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
