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The Technical Story of Cytokinetics Incorporated (CYTK) Stock

BofA Securities raised the price target for the Cytokinetics Incorporated (NASDAQ:CYTK) stock to “a Neutral”. The rating was released on February 17, 2023, according to finviz. We previously noted in another research note published on December 23, 2022 by Needham that reiterated the stock to a Buy with a price target of $58 for CYTK stock. The research report from Truist has initiated the stock to Buy, with a price target set at $60. The stock was initiated by UBS, who disclosed in a research note on October 11, 2022, to Buy and set the price objective to $80. In their research brief published January 28, 2022, Goldman analysts initiated the Cytokinetics Incorporated stock to Buy with a price target of $74.

The latest trade, Performances and Moving Averages give us the following Picture

The share price of Cytokinetics Incorporated (NASDAQ:CYTK) dipped -0.56% to close Thursday’s market session at $37.06, lower as compared to yesterday’s close. The stock price fluctuated between $36.40 and $37.94 throughout the trading session with the volume trading being 1146129 shares, which represented a significant variation when compared to the three months average volume of 984.56K shares. The firm’s stock price fluctuated 0.54% within the last five trades and -14.51% within the last 30 trades, which was a significant change from the beginning of this year. Despite the fact that the share price decreased -30.66% in the last 6 months and -3.31% was subtracted to its value over the previous 3 months. CYTK stock is trading at a margin of -9.24%, -12.18% and -16.43% apart from the 20-Day, 50-Day and 200-Day Simple Moving Average prices.

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As of the close of trading, CYTK deals in the Healthcare domain. The stock is trading -33.58 percent below its 52-week high and 11.96 percent above its 52-week low. For example, looking both at the price and the high and low measurements of 52 weeks will give you a clearer picture of the direction the price is heading. The firm’s Weighted Alpha is -14.4. A positive weighted alpha indicates the firm has done well over the course of the year, whereas one below 0 indicates that the firm has done poorly.

What Does Cytokinetics Incorporated’s Profitability and Valuation Ratios Tell Us About the Stock?

The stock’s market cap achieved a total value of $3.65 billion as of the last trading session. Market capitalization is the total value of all outstanding shares of a corporation and it is used to measure a company’s market value. Forward price-to-earnings is calculated using predicted earnings for the next financial year’s P/E determination. The stock has achieved an effective Price-to-Sales Ratio of 38.60 that mirrors the cost to be found for sales by the market.

Is Insider Trading a Real Thing?

Malik Fady Ibraham, the EVP Research & Development at Cytokinetics Incorporated (CYTK) has sold 4,000 shares of firm on Mar 09 at a price of $39.10 against the total amount of $0.16 million. In another inside trade, Blum Robert I, President & CEO of Cytokinetics Incorporated (NASDAQ:CYTK) sold 12,500 shares of the firm on Mar 06 for a total worth of $0.5 million at a price of $39.94. An inside trade which took place on Feb 21, VP, Chief Accounting Officer of Cytokinetics Incorporated Wong Robert sold 2,234 shares of firm against total price of $0.1 million at the cost of $45.21 per share.



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