In the last trading session, 4.05 million Cytokinetics Inc (NASDAQ:CYTK) shares changed hands as the company’s beta touched 0.68. With the company’s per share price at $71.15 changed hands at $2.42 or 3.52% during last session, the market valuation stood at $7.33B. CYTK’s last price was a discount, traded about -54.95% off its 52-week high of $110.25. The share price had its 52-week low at $25.98, which suggests the last value was 63.49% up since then. When we look at Cytokinetics Inc’s average trading volume, we note the 10-day average is 4.07 million shares, with the 3-month average coming to 3.93 million.
Cytokinetics Inc (NASDAQ:CYTK) trade information
Instantly CYTK was in green as seen at the end of in last trading. With action 5.27%, the performance over the past five days has been green. The jump to weekly highs of 74.68 added 3.52% to the stock’s daily price. The company’s shares are showing year-to-date downside of -14.78%, with the 5-day performance at 5.27% in the green. However, in the 30-day time frame, Cytokinetics Inc (NASDAQ:CYTK) is -9.94% down. Looking at the short shares, we see there were 14.53 million shares sold at short interest cover period of 7.52 days.
Cytokinetics Inc (CYTK) estimates and forecasts
Data shows that the Cytokinetics Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 137.32% over the past 6 months, a 17.25% in annual growth rate that is considerably higher than the industry average of 12.20%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Cytokinetics Inc will rise 17.40%, while the growth in revenue is estimated to hit 16.40% for the next quarter. Year-over-year growth is forecast to reach -14.90% down from the last financial year.
Consensus estimates given by 12 financial analysts project the company’s revenue in the current quarter to hit an average of $970k. 12 analysts are of the opinion that Cytokinetics Inc’s revenue for the quarter ending Jun 2024 will be $950k. The company’s revenue for the corresponding quarters a year ago was $4.61 million and $5.8 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -79.00%. The estimates for the next quarter sales put growth at -83.60%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -22.79%. The 2024 estimates are for Cytokinetics Inc earnings to increase by 18.14%, but the outlook for the next 5-year period is at 15.00% per year.
CYTK Dividends
Cytokinetics Inc is expected to release its next quarterly earnings report between May 02 and May 06.
Cytokinetics Inc (NASDAQ:CYTK)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.88% of Cytokinetics Inc shares while 113.77% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 114.78%. There are 113.77% institutions holding the Cytokinetics Inc stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 16.00% of the shares, roughly 15.36 million CYTK shares worth $501.11 million.
FMR, LLC holds the second largest percentage of outstanding shares, with 12.67% or 12.16 million shares worth $396.76 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Sep 29, 2023 were iShares Core S&P Smallcap ETF and Vanguard Specialized-Health Care Fund. With 6.48 million shares estimated at $190.95 million under it, the former controlled 6.75% of total outstanding shares. On the other hand, Vanguard Specialized-Health Care Fund held about 3.47% of the shares, roughly 3.33 million shares worth around $111.21 million.
