Cytokinetics Inc (NASDAQ: CYTK)’s stock price has dropped by -2.25 in relation to previous closing price of 55.96. Nevertheless, the company has seen a loss of -2.04% in its stock price over the last five trading days. globenewswire.com reported 2024-11-11 that Advancement of Fast Skeletal Muscle Troponin Activator Expands Pipeline of Muscle-Directed Drug Candidates SOUTH SAN FRANCISCO, Calif., Nov. 11, 2024 (GLOBE NEWSWIRE) — Cytokinetics, Incorporated (Nasdaq: CYTK) today announced that the first participants have been dosed in a Phase 1 randomized, double-blind, placebo-controlled, multi-part, single and multiple ascending dose clinical study of CK-4015089 (CK-089) in healthy human participants.
Is It Worth Investing in Cytokinetics Inc (NASDAQ: CYTK) Right Now?
CYTK has 36-month beta value of 0.82. Analysts have mixed views on the stock, with 7 analysts rating it as a “buy,” 1 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for CYTK is 114.09M, and currently, short sellers hold a 13.75% ratio of that float. The average trading volume of CYTK on November 15, 2024 was 1.17M shares.
CYTK’s Market Performance
CYTK’s stock has seen a -2.04% decrease for the week, with a -1.05% drop in the past month and a -3.19% fall in the past quarter. The volatility ratio for the week is 3.80%, and the volatility levels for the past 30 days are at 3.24% for Cytokinetics Inc. The simple moving average for the past 20 days is 1.56% for CYTK’s stock, with a -9.26% simple moving average for the past 200 days.
Analysts’ Opinion of CYTK
Many brokerage firms have already submitted their reports for CYTK stocks, with RBC Capital Mkts repeating the rating for CYTK by listing it as a “Outperform.” The predicted price for CYTK in the upcoming period, according to RBC Capital Mkts is $80 based on the research report published on November 08, 2024 of the current year 2024.
Goldman, on the other hand, stated in their research note that they expect to see CYTK reach a price target of $60, previously predicting the price at $85. The rating they have provided for CYTK stocks is “Neutral” according to the report published on August 13th, 2024.
UBS gave a rating of “Neutral” to CYTK, setting the target price at $92 in the report published on January 24th of the current year.
CYTK Trading at 1.00% 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 -50.39% of loss for the given period.
Volatility was left at 3.24%, however, over the last 30 days, the volatility rate increased by 3.80%, as shares surge +0.31% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -2.20% lower at present.
During the last 5 trading sessions, CYTK fell by -2.04%, which changed the moving average for the period of 200-days by -29.99% in comparison to the 20-day moving average, which settled at $53.86. In addition, Cytokinetics Inc saw -34.48% 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 6,342 shares at the price of $58.48 back on Nov 12 ’24. After this action, Malik Fady Ibraham now owns 113,878 shares of Cytokinetics Inc, valued at $370,880 using the latest closing price.
FADY MALIK, the Officer of Cytokinetics Inc, proposed sale 6,342 shares at $58.48 during a trade that took place back on Nov 12 ’24, which means that FADY MALIK is holding shares at $370,907 based on the most recent closing price.
Stock Fundamentals for CYTK
Current profitability levels for the company are sitting at:
- -162.98 for the present operating margin
- -28.72 for the gross margin
The net margin for Cytokinetics Inc stands at -179.06. The total capital return value is set at -0.4.
Based on Cytokinetics Inc (CYTK), the company’s capital structure generated 1.02 points at debt to capital in total, while cash flow to debt ratio is standing at -0.6. The debt to equity ratio resting at -48.51. The interest coverage ratio of the stock is -6.48.
Currently, EBITDA for the company is -456.68 million with net debt to EBITDA at -1.53. When we switch over and look at the enterprise to sales, we see a ratio of 2236.13. The receivables turnover for the company is 13.19for trailing twelve months and the total asset turnover is 0.0. The liquidity ratio also appears to be rather interesting for investors as it stands at 9.28.
Conclusion
To put it simply, Cytokinetics Inc (CYTK) has had a bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. 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.
