Cytokinetics Incorporated [CYTK] is 92.93% higher this YTD. Is it still time to buy?

Cytokinetics Incorporated [NASDAQ: CYTK] jumped around 3.81 points on Wednesday, while shares priced at $20.47 at the close of the session, up 22.87%. The company report on December 9, 2020 that Cytokinetics Announces Progression of REDWOOD-HCM to Cohort 2.

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Interim Analysis of Data from Cohort 1 Demonstrate Substantial Effects of CK-274 to Reduce LVOT Gradient in Patients with Obstructive Hypertrophic Cardiomyopathy with No Dose Interruptions Due to Left Ventricular Ejection Fraction Below 50%.

Cytokinetics, Incorporated (Nasdaq: CYTK) announced the progression of REDWOOD-HCM following the conduct of an interim analysis of data from Cohort 1. REDWOOD-HCM (Randomized Evaluation of Dosing With CK-274 in Obstructive Outflow Disease in HCM) is an ongoing Phase 2 clinical trial of CK-3773274 (CK-274), a next-generation cardiac myosin inhibitor in development for the potential treatment of hypertrophic cardiomyopathy (HCM).

Cytokinetics Incorporated stock is now 92.93% up from its year-to-date (YTD) trading value. CYTK Stock saw the intraday high of $21.17 and lowest of $16.81 per share. The company’s 52-week high price is 30.14, which means current price is +155.87% above from all time high which was touched on 10/05/20.

Compared to the average trading volume of 1.62M shares, CYTK reached a trading volume of 4006761 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Cytokinetics Incorporated [CYTK]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CYTK shares is $24.44 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CYTK stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Cytokinetics Incorporated shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 29, 2020. While these analysts kept the previous recommendation, Raymond James raised their target price to Strong Buy. The new note on the price target was released on July 10, 2020, representing the official price target for Cytokinetics Incorporated stock. Previously, the target price had yet another raise to $31, while Mizuho analysts kept a Buy rating on CYTK stock.

The Average True Range (ATR) for Cytokinetics Incorporated is set at 1.19, with the Price to Sales ratio for CYTK stock in the period of the last 12 months amounting to 27.21. The Price to Book ratio for the last quarter was 9.35, with the Price to Cash per share for the same quarter was set at 5.68.

How has CYTK stock performed recently?

Cytokinetics Incorporated [CYTK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.72. With this latest performance, CYTK shares gained by 21.41% in over the last four-week period, additionally sinking by -2.29% over the last 6 months – not to mention a rise of 115.70% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CYTK stock in for the last two-week period is set at 70.09, with the RSI for the last a single of trading hit 74.33, and the three-weeks RSI is set at 60.79 for Cytokinetics Incorporated [CYTK]. The present Moving Average for the last 50 days of trading for this stock 17.60, while it was recorded at 17.60 for the last single week of trading, and 19.12 for the last 200 days.

Cytokinetics Incorporated [CYTK]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Cytokinetics Incorporated [CYTK] shares currently have an operating margin of -367.97. Cytokinetics Incorporated’s Net Margin is presently recorded at -452.93.

Return on Total Capital for CYTK is now -102.20, given the latest momentum, and Return on Invested Capital for the company is -130.67. Return on Equity for this stock declined to -1,622.88, with Return on Assets sitting at -48.58. Additionally, CYTK Total Debt to Total Capital is recorded at 108.74, with Total Debt to Total Assets ending up at 46.95.

Reflecting on the efficiency of the workforce at the company, Cytokinetics Incorporated [CYTK] managed to generate an average of -$780,077 per employee. Receivables Turnover for the company is 4.50 with a Total Asset Turnover recorded at a value of 0.11.Cytokinetics Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 15.20 and a Current Ratio set at 15.20.

Earnings analysis for Cytokinetics Incorporated [CYTK]

With the latest financial reports released by the company, Cytokinetics Incorporated posted -0.52/share EPS, while the average EPS was predicted by analysts to be reported at -0.44/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -18.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CYTK. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cytokinetics Incorporated go to 15.00%.

Insider trade positions for Cytokinetics Incorporated [CYTK]

There are presently around $1,405 million, or 99.80% of CYTK stock, in the hands of institutional investors. The top three institutional holders of CYTK stocks are: BLACKROCK INC. with ownership of 10,759,951, which is approximately 14.936% of the company’s market cap and around 0.80% of the total institutional ownership; VANGUARD GROUP INC, holding 4,964,324 shares of the stock with an approximate value of $101.62 million in CYTK stocks shares; and STATE STREET CORP, currently with $77.38 million in CYTK stock with ownership of nearly 24.308% of the company’s market capitalization.

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Positions in Cytokinetics Incorporated stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 129 institutional holders increased their position in Cytokinetics Incorporated [NASDAQ:CYTK] by around 17,665,376 shares. Additionally, 57 investors decreased positions by around 6,866,181 shares, while 16 investors held positions by with 44,082,982 shares. The mentioned changes placed institutional holdings at 68,614,539 shares, according to the latest SEC report filing. CYTK stock had 42 new institutional investments in for a total of 8,344,597 shares, while 22 institutional investors sold positions of 4,502,756 shares during the same period.

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