Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cytokinetics Inc shares valued at $253,800 were sold by Blum Robert I on Dec 02 ’24. At $50.76 per share, Blum Robert I sold 5,000 shares. The insider’s holdings dropped to 397,678 shares worth approximately $20.04 million following the completion of this transaction.
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Also, ROBERT BLUM purchased 5,000 shares, netting a total of over 253,786 in proceeds.
Before that, Malik Fady Ibraham had sold 7,300 shares from its account. In a trade valued at $366,181, the EVP Research & Development traded Cytokinetics Inc shares for $50.16 each. Upon closing the transaction, the insider’s holdings decreased to 7,300 shares, worth approximately $5.64 million.
As published in their initiating research note from RBC Capital Mkts on November 08, 2024, Cytokinetics Inc [CYTK] has been an Outperform and the price target has been revised to $80. Analysts at Goldman downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid August. As of January 24, 2024, UBS has decreased its “Buy” rating to a “Neutral” for CYTK. Earlier on January 05, 2024, Morgan Stanley downgraded its rating. Their new recommendation was “an Equal-weight” for CYTK stock which previously was a “an Overweight”.
Analyzing CYTK Stock Performance
During the last five days, there has been a drop of approximately -3.49%. Over the course of the year, Cytokinetics Inc shares have dropped approximately -39.63%. 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 $53.07, while a 200-day SMA reached $58.34. Nevertheless, trading volume fell to 0.83 million shares from 1.03 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 49.87, which, if violated, would cause prices to drop to 49.34. In the upper region, resistance lies at 50.79. The next price resistance is at 51.18. RSI (Relative Strength Index) is 44.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.13, which suggests the price will decrease in the coming days. Percent R is at 61.32%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
