Cytokinetics Incorporated (NASDAQ: CYTK) stock jumped 2.25% on Tuesday to $43.15 against a previous-day closing price of $42.20. With 1.2 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.13 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $43.56 whereas the lowest price it dropped to was $41.68. The 52-week range on CYTK shows that it touched its highest point at $55.80 and its lowest point at $29.26 during that stretch. It currently has a 1-year price target of $62.67. Beta for the stock currently stands at 0.93.
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 1.01%, but this was down by -4.37% over a month. Three-month performance dropped to -8.87% while six-month performance rose 11.38%. The stock gained 40.05% in the past year, while it has lost -5.83% so far this year. A look at the trailing 12-month EPS for CYTK yields -3.17 with Next year EPS estimates of -4.76. For the next quarter, that number is -1.21. This implies an EPS growth rate of -42.00% for this year and -17.20% 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, 93.76 million CYTK shares are outstanding with a float of 90.46 million shares on hand for trading. On Oct 13, 2022, short shares totaled 12.44 million, which was 13.22% higher than short shares on Sep 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.
Through their ownership of 116.47% of CYTK’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 70.04% of CYTK, in contrast to 37.65% held by mutual funds. Shares owned by individuals account for 11.96%. As the largest shareholder in CYTK with 14.37% of the stake, BlackRock Fund Advisors holds 13,593,588 shares worth 13,593,588. A second-largest stockholder of CYTK, Fidelity Management & Research Co, holds 12,476,663 shares, controlling over 13.19% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in CYTK, holding 9,777,815 shares or 10.33% stake. With a 7.39% stake in CYTK, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 6,989,101 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.88% of CYTK stock, is the second-largest Mutual Fund holder. It holds 2,728,906 shares valued at 125.04 million. Vanguard Small Cap Index Fund holds 2.45% of the stake in CYTK, owning 2,316,378 shares worth 106.14 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CYTK since 15 analysts follow the stock currently. There are 13 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 $55.00, the average target price over the next 12 months is $62.67. Based on these targets, CYTK could surge 85.4% to reach the target high and rise by 27.46% to reach the target low. Reaching the average price target will result in a growth of 45.24% 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 02/23/2024. Analysts have provided yearly estimates in a range of -$3.88 being high and -$4.31 being low. For CYTK, this leads to a yearly average estimate of -$4.06. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Cytokinetics Incorporated surprised analysts by -$0.36 when it reported -$1.52 EPS against a consensus estimate of -$1.16. The surprise factor in the prior quarter was $0.80. Based on analyst estimates, the high estimate for the next quarter is -$0.97 and the low estimate is -$1.39. The average estimate for the next quarter is thus -$1.21.
Summary of Insider Activity:
Insiders traded CYTK stock several times over the past three months with 11 Buys and 8 Sells. In these transactions, 41,588 shares were bought while 50,100 shares were sold. The number of buy transactions has increased to 105 while that of sell transactions has risen to 63 over the past year. The total number of shares bought during that period was 875,916 while 654,610 shares were sold.