Cytokinetics Incorporated [NASDAQ: CYTK] surged by $7.77 during the normal trading session on Monday and reaching a high of $31.41 during the day while it closed the day at $27.00. The company report on July 20, 2021 that Cytokinetics Announces Proposed Public Offering of Common Stock.
Cytokinetics, Incorporated (Nasdaq:CYTK) announced plans to offer, subject to market and other conditions, $200,000,000 of shares of its common stock in an underwritten public offering. There can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering. Cytokinetics expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of common stock sold in connection with the offering. All of the shares of common stock in the offering will be sold by Cytokinetics.
J.P. Morgan and Morgan Stanley are acting as joint book-running managers for the offering. Mizuho Securities and JMP Securities are acting as passive book-runners.
Cytokinetics Incorporated stock has also gained 40.26% of its value over the past 7 days. However, CYTK stock has inclined by 9.18% in the 3 months of the year. Over the past six months meanwhile, it has gained 42.41% and gained 29.93% year-on date.
The market cap for CYTK stock reached $1.95 billion, with 71.19 million shares outstanding and 66.01 million shares in the current float. Compared to the average trading volume of 766.18K shares, CYTK reached a trading volume of 39970555 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $32.64 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 2.00. 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.
Wolfe Research have made an estimate for Cytokinetics Incorporated shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 12, 2021. While these analysts kept the previous recommendation, Barclays raised their target price to Overweight. The new note on the price target was released on February 18, 2021, representing the official price target for Cytokinetics Incorporated stock. Previously, the target price had yet another raise from $22 to $41, while H.C. Wainwright kept a Buy rating on CYTK stock.
The Average True Range (ATR) for Cytokinetics Incorporated is set at 1.78, with the Price to Sales ratio for CYTK stock in the period of the last 12 months amounting to 33.21. The Price to Book ratio for the last quarter was 28.42, with the Price to Cash per share for the same quarter was set at 5.91.
CYTK stock trade performance evaluation
Cytokinetics Incorporated [CYTK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 40.26. With this latest performance, CYTK shares gained by 23.06% in over the last four-week period, additionally plugging by 42.41% over the last 6 months – not to mention a rise of 12.59% 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 73.04, with the RSI for the last a single of trading hit 80.71, and the three-weeks RSI is set at 67.26 for Cytokinetics Incorporated [CYTK]. The present Moving Average for the last 50 days of trading for this stock 21.94, while it was recorded at 20.58 for the last single week of trading, and 20.97 for the last 200 days.
Cytokinetics Incorporated [CYTK]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Cytokinetics Incorporated [CYTK] shares currently have an operating margin of -168.27. Cytokinetics Incorporated’s Net Margin is presently recorded at -228.00.
Return on Total Capital for CYTK is now -49.84, given the latest momentum, and Return on Invested Capital for the company is -68.88. Return on Equity for this stock declined to -248.50, with Return on Assets sitting at -30.91. When it comes to the capital structure of this company, Cytokinetics Incorporated [CYTK] has a Total Debt to Total Equity ratio set at 122.15. Additionally, CYTK Total Debt to Total Capital is recorded at 54.99, with Total Debt to Total Assets ending up at 25.95. Long-Term Debt to Equity for the company is recorded at 119.69, with the Long-Term Debt to Total Capital now at 53.88.
Reflecting on the efficiency of the workforce at the company, Cytokinetics Incorporated [CYTK] managed to generate an average of -$691,793 per employee. Receivables Turnover for the company is 11.65 with a Total Asset Turnover recorded at a value of 0.14.Cytokinetics Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 12.10 and a Current Ratio set at 12.10.
Earnings per share (EPS) analysis for Cytokinetics Incorporated [CYTK] stock
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%.
Cytokinetics Incorporated [CYTK]: Insider Ownership positions
There are presently around $2,020 million, in the hands of institutional investors. The top three institutional holders of CYTK stocks are: BLACKROCK INC. with ownership of 11,927,444, which is approximately 2.725% of the company’s market cap and around 1.30% of the total institutional ownership; VANGUARD GROUP INC, holding 4,899,174 shares of the stock with an approximate value of $132.28 million in CYTK stocks shares; and STATE STREET CORP, currently with $111.83 million in CYTK stock with ownership of nearly -10.751% of the company’s market capitalization.
Positions in Cytokinetics Incorporated stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 93 institutional holders increased their position in Cytokinetics Incorporated [NASDAQ:CYTK] by around 11,216,946 shares. Additionally, 77 investors decreased positions by around 9,529,481 shares, while 36 investors held positions by with 54,057,230 shares. The mentioned changes placed institutional holdings at 74,803,657 shares, according to the latest SEC report filing. CYTK stock had 29 new institutional investments in for a total of 3,861,228 shares, while 14 institutional investors sold positions of 5,659,593 shares during the same period.