The stock of Cytokinetics Inc (NASDAQ: CYTK) has decreased by -0.02 when compared to last closing price of 65.28.Despite this, the company has seen a gain of 3.00% in its stock price over the last five trading days. Zacks Investment Research reported 2024-05-08 that Cytokinetics (CYTK) came out with a quarterly loss of $1.33 per share versus the Zacks Consensus Estimate of a loss of $1.16. This compares to loss of $1.38 per share a year ago.
Is It Worth Investing in Cytokinetics Inc (NASDAQ: CYTK) Right Now?
Company’s 36-month beta value is 0.81.Analysts have differing opinions on the stock, with 7 analysts rating it as a “buy,” 1 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for CYTK is 101.15M, and currently, short sellers hold a 13.88% ratio of that floaft. The average trading volume of CYTK on May 09, 2024 was 1.92M shares.
CYTK’s Market Performance
CYTK stock saw a decrease of 3.00% in the past week, with a monthly decline of -13.03% and a quarterly a decrease of -15.37%. The volatility ratio for the week is 2.94%, and the volatility levels for the last 30 days are 3.67% for Cytokinetics Inc (CYTK). The simple moving average for the past 20 days is -2.19% for CYTK’s stock, with a 24.79% simple moving average for the past 200 days.
Analysts’ Opinion of CYTK
Many brokerage firms have already submitted their reports for CYTK stocks, with UBS repeating the rating for CYTK by listing it as a “Neutral.” The predicted price for CYTK in the upcoming period, according to UBS is $92 based on the research report published on January 24, 2024 of the current year 2024.
Morgan Stanley, on the other hand, stated in their research note that they expect to see CYTK reach a price target of $90, previously predicting the price at $60. The rating they have provided for CYTK stocks is “Equal-Weight” according to the report published on January 05th, 2024.
Goldman gave a rating of “Buy” to CYTK, setting the target price at $50 in the report published on November 09th of the previous year.
CYTK Trading at -4.28% from the 50-Day Moving Average
After a stumble in the market that brought CYTK to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -40.80% of loss for the given period.
Volatility was left at 3.67%, however, over the last 30 days, the volatility rate increased by 2.94%, as shares sank -12.22% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -19.41% lower at present.
During the last 5 trading sessions, CYTK rose by +3.00%, which changed the moving average for the period of 200-days by +98.45% in comparison to the 20-day moving average, which settled at $66.27. In addition, Cytokinetics Inc saw -21.82% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CYTK starting from Malik Fady Ibraham, who sale 15,547 shares at the price of $65.11 back on May 07 ’24. After this action, Malik Fady Ibraham now owns 137,056 shares of Cytokinetics Inc, valued at $1,012,265 using the latest closing price.
HENDERSON JOHN T, the Director of Cytokinetics Inc, sale 10,562 shares at $64.54 during a trade that took place back on Apr 25 ’24, which means that HENDERSON JOHN T is holding 32,070 shares at $681,671 based on the most recent closing price.
Stock Fundamentals for CYTK
Current profitability levels for the company are sitting at:
- -65.9 for the present operating margin
- -32.4 for the gross margin
The net margin for Cytokinetics Inc stands at -69.64. The total capital return value is set at -0.69.
Based on Cytokinetics Inc (CYTK), the company’s capital structure generated 2.55 points at debt to capital in total, while cash flow to debt ratio is standing at -0.65. The debt to equity ratio resting at -1.64. The interest coverage ratio of the stock is -8.6.
Currently, EBITDA for the company is -484.31 million with net debt to EBITDA at -1.37. When we switch over and look at the enterprise to sales, we see a ratio of 991.77. The receivables turnover for the company is 5.87for trailing twelve months and the total asset turnover is 0.01. The liquidity ratio also appears to be rather interesting for investors as it stands at 6.12.
Conclusion
In a nutshell, Cytokinetics Inc (CYTK) has experienced a mixed performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
