During the last session, Cytokinetics Inc (NASDAQ:CYTK)’s traded shares were 21.5 million, with the beta value of the company hitting 0.69. At the end of the trading day, the stock’s price was $65.19, reflecting an intraday gain of 2.26% or $1.44. The 52-week high for the CYTK share is $110.25, that puts it down -69.12 from that peak though still a striking 60.15% gain since the share price plummeted to a 52-week low of $25.98. The company’s market capitalization is $6.71B, and the average intraday trading volume over the past 10 days was 2.27 million shares, and the average trade volume was 3.86 million shares over the past three months.
Cytokinetics Inc (NASDAQ:CYTK) trade information
Cytokinetics Inc (CYTK) registered a 2.26% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 2.26% in intraday trading to $65.19, hitting a weekly high. The stock’s 5-day price performance is -0.85%, and it has moved by -14.78% in 30 days. Based on these gigs, the overall price performance for the year is 74.91%. The short interest in Cytokinetics Inc (NASDAQ:CYTK) is 14.53 million shares and it means that shorts have 7.52 day(s) to cover.
Cytokinetics Inc (CYTK) estimates and forecasts
Statistics show that Cytokinetics Inc has outperformed its competitors in share price, compared to the industry in which it operates. Cytokinetics Inc (CYTK) shares have gone up 90.56% during the last six months, with a year-to-date growth rate more than the industry average at 18.35% against 13.20. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 17.40% this quarter and then jump 16.40% in the quarter after that. In the rating firms’ projections, revenue will decrease -14.90% compared to the previous financial year.
Revenue for the current quarter is expected to be $970k as predicted by 12 analyst(s). Meanwhile, a consensus of 12 analyst(s) estimates revenue growth to $950k by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $4.61 million and $5.8 million respectively. In this case, analysts expect current quarter sales to shrink by -79.00% and then drop by -83.60% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -22.79%. While earnings are projected to return 18.14% in 2024, the next five years will return 15.00% per annum.
CYTK Dividends
Cytokinetics Inc is due to release its next quarterly earnings between May 02 and May 06. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Cytokinetics Inc (NASDAQ:CYTK)’s Major holders
Cytokinetics Inc insiders own 0.78% of total outstanding shares while institutional holders control 113.80%, with the float percentage being 114.70%. Blackrock Inc. is the largest shareholder of the company, while 464 institutions own stock in it. As of Jun 29, 2023, the company held over 15.36 million shares (or 16.00% of all shares), a total value of $501.11 million in shares.
The next largest institutional holding, with 12.16 million shares, is of FMR, LLC’s that is approximately 12.67% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $396.76 million.
Also, the Mutual Funds coming in first place with the largest holdings of Cytokinetics Inc (CYTK) shares are iShares Core S&P Smallcap ETF and Vanguard Specialized-Health Care Fund. Data provided on Sep 29, 2023 indicates that iShares Core S&P Smallcap ETF owns about 6.48 million shares. This amounts to just over 6.75 percent of the company’s overall shares, with a $190.95 million market value. The same data shows that the other fund manager holds slightly less at 3.33 million, or about 3.47% of the stock, which is worth about $111.21 million.
