Check Out Cytokinetics Incorporated (CYTK)’s Trade Data Rather Than the Analysts’ Views

Cytokinetics Incorporated (NASDAQ: CYTK) stock jumped 1.06% on Friday to $42.84 against a previous-day closing price of $42.39. With 1.23 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.29 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $44.38 whereas the lowest price it dropped to was $41.72. The 52-week range on CYTK shows that it touched its highest point at $49.41 and its lowest point at $28.24 during that stretch. It currently has a 1-year price target of $62.75. Beta for the stock currently stands at 1.16.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CYTK was up-trending over the past week, with a rise of 1.25%, but this was down by -2.41% over a month. Three-month performance surged to 7.10% while six-month performance rose 27.61%. The stock gained 48.60% in the past year, while it has lost -6.01% so far this year. A look at the trailing 12-month EPS for CYTK yields -3.22 with Next year EPS estimates of -4.30. For the next quarter, that number is -1.02. This implies an EPS growth rate of -42.00% for this year and 3.70% for next year. EPS is expected to grow by 15.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -56.00%.

Float and Shares Shorts:

At present, 85.00 million CYTK shares are outstanding with a float of 84.13 million shares on hand for trading. On Jul 14, 2022, short shares totaled 11.81 million, which was 13.79% higher than short shares on Jun 14, 2022. In addition to Mr. Robert I. Blum as the firm’s CEO, Pres & Director, Mr. Ching W. Jaw serves as its Sr. VP & CFO.

Institutional Ownership:

Through their ownership of 103.98% of CYTK’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 66.71% of CYTK, in contrast to 45.56% held by mutual funds. Shares owned by individuals account for 13.23%. As the largest shareholder in CYTK with 14.37% of the stake, BlackRock Fund Advisors holds 12,304,422 shares worth 12,304,422. A second-largest stockholder of CYTK, Fidelity Management & Research Co, holds 12,304,207 shares, controlling over 14.37% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in CYTK, holding 8,533,656 shares or 9.96% stake. With a 7.05% stake in CYTK, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 6,040,704 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.80% of CYTK stock, is the second-largest Mutual Fund holder. It holds 2,395,650 shares valued at 94.13 million. Fidelity Select Port. – Biotechno holds 2.73% of the stake in CYTK, owning 2,338,471 shares worth 91.88 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2022, CYTK reported revenue of $1.15M and operating income of -$77.86M. Over the past year, revenue came in at $65.03M while operating income stood at -$223.56M. It generated -$89.44M net income for the quarter, which came to -$257.65M over the last twelve months. The EBITDA in the recently reported quarter was -$76.10M and diluted EPS was -$1.05. EBITDA for the full year was -$220.02M.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CYTK since 13 analysts follow the stock currently. There are 11 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CYTK analysts setting a high price target of $80.00 and a low target of $48.00, the average target price over the next 12 months is $62.85. Based on these targets, CYTK could surge 86.74% to reach the target high and rise by 12.04% to reach the target low. Reaching the average price target will result in a growth of 46.71% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CYTK will report FY 2022 earnings on 02/23/2023. Analysts have provided yearly estimates in a range of -$4.01 being high and -$4.83 being low. For CYTK, this leads to a yearly average estimate of -$4.39. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Cytokinetics Incorporated surprised analysts by -$0.11 when it reported -$1.05 EPS against a consensus estimate of -$0.94. The surprise factor in the prior quarter was $0.49. Based on analyst estimates, the high estimate for the next quarter is -$0.95 and the low estimate is -$1.12. The average estimate for the next quarter is thus -$1.03.

Summary of Insider Activity:

Insiders traded CYTK stock several times over the past three months with 23 Buys and 8 Sells. In these transactions, 153,433 shares were bought while 106,987 shares were sold. The number of buy transactions has increased to 114 while that of sell transactions has risen to 78 over the past year. The total number of shares bought during that period was 950,471 while 774,625 shares were sold.

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