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Saturday, June 3, 2023

What Are The Chances Of Cytokinetics Incorporated (NASDAQ: CYTK) Becoming A Clear Buy?

After Hours

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. After-hours trades for Cytokinetics Incorporated (CYTK) shows that investor sentiment remained same, with the stock’s consolidated last price remained same to $38.98. The Cytokinetics Incorporated has recorded 4,724 volume in the after hours trading session. The stock was recently discussed on Yahoo Finance as it revealed that Cytokinetics Presents New Data in Patients With Non-Obstructive HCM From Cohort 4 of REDWOOD-HCM in Late-Breaking Clinical Trial Session at The European Society of Cardiology Heart Failure 2023 Congress.

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Stocks Info

As a NASDAQ listed company, CYTK falls under the Healthcare sector while operating within the Biotechnology industry segment. At the end of the last regular session, the stock closed at $38.98 and fluctuated between $39.10 as its day high and $37.81 as its day low. The current market capitalization of Cytokinetics Incorporated is $3.59B. A total of 0.94 million shares were traded on the day, compared to an average of 1.01M shares.

Insider Activity

Aside from predicting where a stock will go, investors also consider insider trades as an indicator of the stock’s future direction. During the recent three months, CYTK has seen 17 BUY and 17 SELL insider trades, representing the acquisition of 259,871 and the disposition of 151,873 shares. Over the last 12 months, there were 71 BUYs and 62 SELLs from insiders. Insiders purchased 623,097 shares during that period but sold 544,859.

In the most recent transaction, Blum Robert I sold 12,500 shares of CYTK for 37.41 per share on May 16. After the transaction, the President & CEO now owns 441,058 company shares. In a previous transaction on May 15, HENDERSON JOHN T sold 4,166 shares at 37.77 per share. CYTK shares that Director owns now total 25,420.

Among the insiders who sold shares, Malik Fady Ibraham disposed of 1,787 shares on May 11 at a per-share price of $39.50. This resulted in the EVP Research & Development holding 165,396 shares of CYTK after the transaction. In another insider transaction, Malik Fady Ibraham sold 7,000 shares at $40.00 per share on May 03. Company shares held by the EVP Research & Development now total 167,183.

In spite of price targets being rarely accurate, it tends to exert some kind influence from time to time, and was often accepted by the market as having some value. According to analysts who have offered 12-month price targets for CYTK in the last 3 months, the mean price target is $60.38 with high estimates of $80.00 and low estimates of $41.00. In terms of 52-week highs and lows, CYTK has a high of $55.80 and a low of $32.96.

As of this writing, CYTK has an earnings estimate of -$1.15 per share for the current quarter. EPS was calculated based on a consensus of 13 estimates, with a high estimate of -$0.31 per share and a lower estimate of -$1.43. The company reported an EPS of -$1.45 in the last quarter, which was -19.80% lower than expectations of -$1.21.

Balance Sheet Annually/Quarterly

The balance sheet of a company shows what assets and liabilities a company has, as well as the amount, equity investors have invested. With the help of this information, a company’s financial ratios can be calculated to give investors an overview of the company’s prospects. CYTK’s latest balance sheet shows that the firm has $471.64M in Cash & Short Term Investments as of fiscal 2021. There were $269.93M in debt and $71.86M in liabilities at the time. Its Book Value Per Share was -$2.41, while its Total Shareholder’s Equity was $243.86M.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for CYTK is Buy with a score of 4.73.

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