CYTK (Cytokinetics Incorporated) stock is in for a key growth catalyst

Cytokinetics Incorporated (NASDAQ: CYTK) closed the day trading at $39.01 down -4.27% from the previous closing price of $40.75. In other words, the price has decreased by -$1.74 from its previous closing price. On the day, 814928 shares were traded. CYTK stock price reached its highest trading level at $41.24 during the session, while it also had its lowest trading level at $38.77.

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For a better understanding of CYTK, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 9.00 and its Current Ratio is at 9.00.

Upgrades & Downgrades

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on May 16 when Blum Robert I sold 12,500 shares for $37.41 per share. The transaction valued at 467,625 led to the insider holds 441,058 shares of the business.

HENDERSON JOHN T sold 4,166 shares of CYTK for $157,350 on May 15. The Director now owns 25,420 shares after completing the transaction at $37.77 per share. On May 11, another insider, Malik Fady Ibraham, who serves as the EVP Research & Development of the company, sold 1,787 shares for $39.50 each. As a result, the insider received 70,586 and left with 165,396 shares of the company.

Valuation Measures:

Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, CYTK now has a Market Capitalization of 3.77B and an Enterprise Value of 3.74B. For the stock, the TTM Price-to-Sale (P/S) ratio is 36.67. Its current Enterprise Value per Revenue stands at 38.11 whereas that against EBITDA is -10.12.

Stock Price History:

Over the past 52 weeks, CYTK has reached a high of $55.80, while it has fallen to a 52-week low of $32.96. The 50-Day Moving Average of the stock is 36.92, while the 200-Day Moving Average is calculated to be 43.01.

Shares Statistics:

Over the past 3-months, CYTK traded about 1.01M shares per day on average, while over the past 10 days, CYTK traded about 745.31k shares per day. A total of 95.16M shares are outstanding, with a floating share count of 90.46M. Insiders hold about 0.70% of the company’s shares, while institutions hold 115.11% stake in the company. Shares short for CYTK as of Apr 27, 2023 were 9.77M with a Short Ratio of 9.77M, compared to 10.36M on Mar 30, 2023. Therefore, it implies a Short% of Shares Outstanding of 10.22% and a Short% of Float of 17.55%.

Earnings Estimates

Current recommendations for the stock of the company come from 13 analysts. On average, analysts expect EPS of -$1.15 for the current quarter, with a high estimate of -$0.31 and a low estimate of -$1.43, while EPS last year was -$0.23. The consensus estimate for the next quarter is -$1.03, with high estimates of -$0.54 and low estimates of -$1.48.

Analysts are recommending an EPS of between -$3.45 and -$5.3 for the fiscal current year, implying an average EPS of -$4.39. EPS for the following year is -$4.42, with 14 analysts recommending between -$2.59 and -$6.04.

Revenue Estimates

12 analysts predict $5.83M in revenue for the current quarter. It ranges from a high estimate of $50.97M to a low estimate of $70k. As of the current estimate, Cytokinetics Incorporated’s year-ago sales were $88.97M, an estimated decrease of -93.40% from the year-ago figure. For the next quarter, 12 analysts are estimating revenue of $14.33M, an increase of 384.10% over than the figure of -$93.40% in the same quarter last year. There is a high estimate of $52M for the next quarter, whereas the lowest estimate is $1M.

A total of 15 analysts have provided revenue estimates for CYTK’s current fiscal year. The highest revenue estimate was $65.05M, while the lowest revenue estimate was $8.4M, resulting in an average revenue estimate of $48.22M. In the same quarter a year ago, actual revenue was $94.59M, down -49.00% from the average estimate.