BlackRock Fund Advisors has recently announced that it has increased stake in Cytokinetics Inc (NASDAQ:CYTK) by 0.15%. After grabbing 14.19 million shares, the institutional investor is now in possession of 21755.0 shares of the Healthcare Company. The new investment brought the stake of investor firm to 14.47% having worth around $475.17 million. Moreover, The Vanguard Group, Inc. increased its share by 0.47 million to have a control over 10.48 million shares. And SSgA Funds Management, Inc. raised its holdings to 0.18 million shares by acquiring 5.27 million shares or 5.38% of the stake.
Cytokinetics Inc (CYTK) concluded trading on 01/03/24 at a closing price of $86.64, with 3.9 million shares of worth about $337.73 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 159.48% during that period and on Wednesday the price saw a gain of about 3.00%. Currently the company’s common shares owned by public are about 94.83M shares, out of which, 93.62M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 20 analysts are covering the CYTK stock and their offered price forecasts bring an average price target of $83.62. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $110.00 and could fall to a lowest price of $42.40. The stock’s current price level is -5.5% below of average price target set by the analysts, while a dip to estimated low would result in loss of -104.34% for the stock. However, touching the estimated high of $110.00 would mean a gain of 21.24% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 118 times over the past 12 months. They bought 531,654 shares in 61 of the transactions. In 57 selling transactions, insiders dumped 413,166 shares.
iShares Core S&P Small Cap ETF, Vanguard Health Care Fund, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in Cytokinetics Inc iShares Core S&P Small Cap ETF is currently holding 6.42 million shares of worth totaling $215.08 million. The company recently came buying 3030.0 shares which brought its stake up to 6.55% of the company’s outstanding shares. Vanguard Total Stock Market ETF, after buying 3.15 million shares, have now control over 3.21% of the stake in the company. It holds 5070.0 shares of worth $105.52 million.
Cytokinetics Inc (NASDAQ: CYTK) started trading at $83.49, below -$0.63 from concluding price of the previous day. However, the stock later moved at a day high price of 87.76, or with a gain of 3.00%. Stock saw a price change of 89.54% in past 5 days and over the past one month there was a price change of 158.09%. Year-to-date (YTD), CYTK shares are showing a performance of 3.77% which increased to 89.09% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $25.98 but also hit the highest price of $88.82 during that period. The average intraday trading volume for Cytokinetics Inc shares is 2.43 million. The stock is currently trading 86.80% above its 20-day simple moving average (SMA20), while that difference is up 125.83% for SMA50 and it goes to 142.70% higher than SMA200.
BlackRock Fund Advisors acquired 14.19 million shares of Cytokinetics Inc having value of about $475.17 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 21755.0 shares in the company valued at close to $1884853.2, or have control over 0.15% stake in the company. Cytokinetics Inc (NASDAQ: CYTK) currently have 94.83M outstanding shares and institutions hold larger chunk of about 109.29% of that. Holding of mutual funds in the company is about 36.69% while other institutional holders and individual stake holders have control over 72.71% and 11.70% of the stake respectively.
The stock has a current market capitalization of $8.50B and its 3Y-monthly beta is at 0.74. It has posted earnings per share of -$5.52 in the same period. It has Quick Ratio of 7.22. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CYTK, volatility over the week remained 9.16% while standing at 8.11% over the month.
Analysts are in expectations that Cytokinetics Inc (CYTK) stock would likely to be making an EPS of -$0.96 in the current quarter, while forecast for next quarter EPS is -$1 and it is -$4.49 for next year. For the current quarter EPS, analysts have given the company a lowest target -$1.47 which is -$0.38 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$1.45 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -12.47% while it is estimated to increase by 8.94% in next year. EPS is likely to grow at an annualized rate of 15.00% for next 5-years, compared to annual growth of -10.83% made by the stock over the past 5-years.
Analysts at 20 brokerage firms have issued recommendations for the Cytokinetics Inc (CYTK)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.25. Out of those 20 Wall Street analysts, 16 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Goldman on November 09, 2023 offering a Buy rating for the stock and assigned a target price of $50 to it.
