Cytokinetics, Incorporated (NASDAQ:CYTK) is one of the stocks that are taking the center stage today as the company shares are trading 3.62% or 0.36 points lower from last closing price of $9.94, reaching $9.58 at last check. So what’s going on with CYTK shares anyway? The price has dropped in 3 of the last 5 days and is up 32.18% over the past week. It will be exciting to see whether the stock manages to continue decreasing or take a minor break for the next few days. The move came on weak volume too with far less shares changing hands than in a normal session. Trading activity as of this writing weakened by -240,615 shares, and in total 209085 shares valued at $2.003 million were seen changing hands compared with 449700 shares valued at $4.47 million recorded at the previous session. You should take into consideration that a falling volume on lower prices shows the bearish trend but this is an early indication which means that the CYTK stock is near its bottom.
Cytokinetics, Incorporated (CYTK) shares have notched a 3-month gain of about 32.18%, but has still advanced 57.28% year to date. By comparison, the stock added 9.83% over the past 12 months, while it slipped -4.7% over the 1 month. The company’s market cap is around $574.33M, with its short interest ratio standing at 7.31%.
In the current trading session for CYTK, the stock witnessed two major price actions, it rose to a high of $10.04 and was down as much as $9.53 at one point. The high recorded is very low when compared to their 52-week high which is $5.75. The 52-week high is now at -15.89 distance from current price. Their recent low of $11.33 represents a 65.74% recovery. This data is quite important for investors who look to benefit from the recent rise of the company’s stock. The price target currently for CYTK is $14.33, this is above the recent high that the stock attained. Taking a look at the overall sentimental views of financial analysts, the trading pattern of this stock recently is very clear.
The stock of Cytokinetics, Incorporated earned $-1.93 per share in the trailing 12 months and has a P/E ratio of -4.96. You can compare it with that of similar companies in its industry to get a sense of whether the stock you’re looking to purchase is overvalued or undervalued. Its current price to earnings ratio is lower than the ones recorded by the industry which is 69.3 and lower compared to the sector’s average of 32.55. When the P/E ratio is low let’s say below 1.0, then the stock price is considered a good value. CYTK also has P/S multiple of 15.95. This is smaller versus the 12 month P/S ratios of other companies in the same indutry. The peer average price to sales ratio is 49.5x.
The company recorded an interesting insider sale transaction by the EVP on Jun 06, 2019. A Securities and Exchanges Commission filings show that Fady Ibraham Malik sold a total of 1,500 CYTK shares that day for a sum of around $15,465. The filings show that the insider now retains 128,067 shares, currently worth $1,226,882. Cytokinetics, Incorporated (CYTK) insiders have acquired no shares in the stock within the past three months. The total insider sales reported to the SEC in that time frame amounted to 4,500 shares. In total, individual insiders traded 4,500 shares in the business, which makes up 1.63% of 276,000 shares that were traded over a year. In the past 12 months, insiders have purchased 230,000 shares while the seller parted with 46,000 shares.
CYTK‘s last price was up 19.39% as compared to the average trading price of 50 days recorded at $8.02 while enlarging the period to 200 trading days, the average closing price was $9.49. At present, there are 57.78 million in the total number of common shares owned by the public and among those 53.46 million shares have been available to trade. The percentage of shares being held by the company management was 1% while institutions stake was 70.7%. The company has generated negative returns on equity over the last 12 months (-269.2%). It managed to keep its gross profit margin at 0% over the past 12 months.
When assessing the full upside of the CYTK stock, there is another set of technicals that should be looked into and considered. Its -6.34% decline from moving average of $10.23 has brought about a negative sentiment when calculated over the last 20 days. The market has allocated a beta of 1.69 to the stock. With the beta been greater than one, this implies that the company shares are theoretically more volatile than the market, something that the traders definitely are keeping an eye on.
Most of the analysts surveyed by Thomson/First Call think quite highly of Cytokinetics, Incorporated — 3 analysts rate the stock as a buy with another 0 rating it strong buy. There are 1 analysts who maintain a hold rating for the stock, with 0 giving it a sell rating. Analysts arrived at a 12-month price target of $15.75 on shares of Cytokinetics, Incorporated (NASDAQ:CYTK), which corresponds to 65.09% upside potential than its current market price of $9.58 and implies potential despite the recent drop in the price. However, their current target price has fallen from $15.75 a month ago and is up handily from the consensus target of $14.5 a quarter ago.
In the last five years, the EPS of the company has been roughly -9.6%. Though the percentage looks disappointing, extra tailwinds are emerging as looking out over a next 5-year period, with analysts estimating that their earnings will increase annually by 15%. The revenue of the company has risen at an average annualized rate of about 0.6 over the last five years. The company recently recorded an increase of 60.4%, but this figure is rather attractive.
Let’s briefly check the hedge fund interest towards CYTK stock. Metropolitan Life Insurance Co NY trimmed position in the company after it dumped -17% or 16,770 shares of its common stock. The hedge fund now owns 13,919 shares worth $133,344, SEC documents show. FMR LLC shored up assets in the stock as 1858075 shares have been purchased, increasing its stake by 3.7% to 1,926,824 shares which are currently valued at $18,458,974. In addition, BVF Inc. IL recently reported that it now owns 3,801,817 shares making a total of $36,421,407 based on the recent price. This refelects a change of -10.1% in their ownership.