Cytokinetics Incorporated (NASDAQ: CYTK) stock fell -1.05% on Monday to $33.87 against a previous-day closing price of $34.23. With 0.85 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.83 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $34.58 whereas the lowest price it dropped to was $33.17. The 52-week range on CYTK shows that it touched its highest point at $54.82 and its lowest point at $30.66 during that stretch. It currently has a 1-year price target of $61.27. Beta for the stock currently stands at 0.75.
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 down-trending over the past week, with a drop of -2.48%, but this was up by 6.24% over a month. Three-month performance dropped to -2.78% while six-month performance fell -4.13%. The stock lost -37.62% in the past year, while it has lost -26.08% so far this year. A look at the trailing 12-month EPS for CYTK yields -5.69 with Next year EPS estimates of -4.03. For the next quarter, that number is -0.74. This implies an EPS growth rate of -54.60% for this year and 1.20% 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 -10.90%.
Float and Shares Shorts:
At present, 95.75 million CYTK shares are outstanding with a float of 95.11 million shares on hand for trading. On Aug 30, 2023, short shares totaled 11.61 million, which was 12.09% higher than short shares on Jul 30, 2023. 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 117.21% of CYTK’s outstanding shares, institutional investors have majority control over the company.
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 Jun 29, 2023, CYTK reported revenue of $88.97M and operating income of -$10.87M. The EBITDA in the recently reported quarter was -$10.01M and diluted EPS was -$0.23.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CYTK since 0 analysts follow the stock currently. 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 $41.00, the average target price over the next 12 months is $60.81. Based on these targets, CYTK could surge 136.2% to reach the target high and rise by 21.05% to reach the target low. Reaching the average price target will result in a growth of 79.54% 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.
Summary of Insider Activity:
Insiders traded CYTK stock several times over the past three months with 13 Buys and 10 Sells. In these transactions, 58,339 shares were bought while 63,020 shares were sold. The number of buy transactions has increased to 69 while that of sell transactions has risen to 60 over the past year. The total number of shares bought during that period was 548,138 while 432,279 shares were sold.