Cytokinetics, Incorporated (NASDAQ:CYTK)’s traded shares stood at 647,097 during the last session, with the company’s beta value hitting 1.37. At the close of trading, the stock’s price was $20.42, to imply a decline of -2.95% or -$0.62 in intraday trading. The CYTK share’s 52-week high remains $30.14, putting it -47.6% down since that peak but still an impressive +27.96% since price per share fell to its 52-week low of $14.71. The company has a valuation of $1.47 Billion, with an average of 579.88 Million shares in intraday trading volume over the past 10 days and average of 898.5 Million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Cytokinetics, Incorporated (CYTK), translating to a mean rating of 2. Of 11 analyst(s) looking at the stock, none analyst(s) give CYTK a Sell rating. 1 of those analysts rate the stock as Overweight while 1 advise Hold as 9 recommend it as a Buy. None analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.65.
After registering a -2.95% downside in the last session, Cytokinetics, Incorporated (CYTK) has traded red over the past five days. The stock hit a weekly high of $22.80 this Friday, May 28, jumping 10.44% in its intraday price action. The 5-day price performance for the stock is -8.51%, and -15.79% over 30 days. Despite these dips, the year-to-date price performance is -1.73%. Short interest in Cytokinetics, Incorporated (NASDAQ:CYTK) saw shorts transact 10.04 Million shares and set a 0.01 days time to cover.
Analysts on Wall Street suggest a consensus price target of $33.36, implying an increase of 63.37% to the stock’s current value. The extremes give us $21 and $50 for target low and target high price respectively. As such, CYTK has been trading 144.86% off suggested target high and 2.84% from its likely low.
Cytokinetics, Incorporated (CYTK) estimates and forecasts
Looking at statistics comparing Cytokinetics, Incorporated share performance against respective industry, we note that the company has underperformed competitors. Cytokinetics, Incorporated (CYTK) shares are +13.44% up over the last 6 months, with its year-to-date growth rate lower than industry average at -32.49% against 9%. But the analysts are intensifying their growth estimates for the 2021 fiscal year. Revenue is forecast to grow 4.4% this quarter before falling -1140% for the next one. The rating firms project that company’s revenue will drop -49.7% compared to the previous financial year.
Revenue forecast for the current quarter as set by 7 analysts is $5.45 Million. Meanwhile, for the quarter ending September 01, 2021, a total of 7 analyst(s) estimate revenue growth to $10.18 Million. Earnings reports from the last fiscal year show that sales brought in $4.07 Million and $4.02 Million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 33.9% before jumping 153.2% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings fell an estimated -15.3% for the past 5-year period. While 2021 is set for a 6.7% return in earnings, projections for the next 5 years are at 15% annually.
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Cytokinetics, Incorporated (NASDAQ:CYTK)’s Major holders
Cytokinetics, Incorporated insiders hold 5.55% of total outstanding shares, with institutional holders owning 108.46% of the shares at 114.84% float percentage. In total, 287 institutions holds shares in the company, led by Blackrock Inc. As of Mar 30, 2021, the company held over 11.93 Million shares (or 16.63% of shares), all amounting to roughly $277.43 Million.
The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 4.9 Million shares, or about 6.83% of shares outstanding. As of the market price on Mar 30, 2021, these shares were worth $113.95 Million.
We also have iShares Core S&P Smallcap ETF and SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF as the top two Mutual Funds with the largest holdings of the Cytokinetics, Incorporated (CYTK) shares. Going by data provided on Mar 30, 2021, iShares Core S&P Smallcap ETF holds roughly 4,741,987 shares. This is just over 6.61% of the total shares, with a market valuation of $110.3 Million. Data from the same date shows that the other fund manager holds a little less at 2.15 Million, or 3% of the shares, all valued at about $50.1 Million.