Cytokinetics Inc (NASDAQ: CYTK) stock fell -0.40% on Monday to $32.31 against a previous-day closing price of $32.44. With 2.59 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.3 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $33.15 whereas the lowest price it dropped to was $31.80. The 52-week range on CYTK shows that it touched its highest point at $47.49 and its lowest point at $25.98 during that stretch. It currently has a 1-year price target of $59.97. Beta for the stock currently stands at 0.57.
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 0.94%, but this was down by -2.42% over a month. Three-month performance dropped to -3.15% while six-month performance fell -20.71%. The stock lost -19.37% in the past year, while it has lost -29.48% so far this year. A look at the trailing 12-month EPS for CYTK yields -5.52 with Next year EPS estimates of -4.35. For the next quarter, that number is -0.88. This implies an EPS growth rate of -9.18% for this year and 7.91% 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 -10.83%.
Float and Shares Shorts:
At present, 94.83 million CYTK shares are outstanding with a float of 93.54 million shares on hand for trading. On Oct 30, 2023, short shares totaled 14.13 million, which was 14.68% higher than short shares on Sep 28, 2023. In addition to Mr. Robert I. Blum as the firm’s CEO, President & Director, Mr. Ching W. Jaw serves as its Senior VP & CFO.
Through their ownership of 117.21% of CYTK’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 73.58% of CYTK, in contrast to 38.31% held by mutual funds. Shares owned by individuals account for 11.94%. As the largest shareholder in CYTK with 14.78% of the stake, BlackRock Fund Advisors holds 14,192,649 shares worth 14,192,649. A second-largest stockholder of CYTK, The Vanguard Group, Inc., holds 10,480,994 shares, controlling over 10.92% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in CYTK, holding 10,477,301 shares or 10.91% stake. With a 6.73% stake in CYTK, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 6,458,510 shares are owned by the mutual fund manager. The Vanguard Health Care Fund, which owns about 3.47% of CYTK stock, is the second-largest Mutual Fund holder. It holds 3,334,530 shares valued at 116.24 million. Vanguard Total Stock Market ETF holds 3.28% of the stake in CYTK, owning 3,146,685 shares worth 109.69 million.
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 $59.97. Based on these targets, CYTK could surge 147.6% to reach the target high and rise by 26.9% to reach the target low. Reaching the average price target will result in a growth of 85.61% from current levels.
Summary of Insider Activity:
Insiders traded CYTK stock several times over the past three months with 11 Buys and 5 Sells. In these transactions, 46,298 shares were bought while 46,020 shares were sold. The number of buy transactions has increased to 67 while that of sell transactions has risen to 56 over the past year. The total number of shares bought during that period was 525,742 while 404,666 shares were sold.