CYTK Stock Summary and Trading Ideas (Cytokinetics | NASDAQ:CYTK)

Cytokinetics Inc is a biotechnology company that develops muscle biology-driven treatments for diseases characterized by reduced muscle function, muscle weakness, and fatigue. The company develops treatments for diseases such as amyotrophic lateral sclerosis, heart failure, spinal muscular atrophy, and chronic obstructive pulmonary diseases. The treatment is based on small molecules specifically engineered to increase muscle function and contractility. The company is developing muscle-directed investigational medicines that may potentially improve the health span of people with devastating cardiovascular and neuromuscular diseases of impaired muscle function.

Cytokinetics trades on the NASDAQ stock market under the symbol CYTK.

As of April 22, 2024, CYTK stock price declined to $66.29 with 1,097,392 million shares trading.

CYTK has a beta of 0.77, meaning it tends to be less sensitive to market movements. CYTK has a correlation of 0.01 to the broad based SPY ETF.

CYTK has a market cap of $6.50 billion. This is considered a Mid Cap stock.

Last quarter Cytokinetics reported $2 million in Revenue and -$1.38 earnings per share. This fell short of revenue expectation by $-9 million and missed earnings estimates by -$.41.

In the last 3 years, CYTK stock traded as high as $110.25 and as low as $17.72.

The top ETF exchange traded funds that CYTK belongs to (by Net Assets): VTI, IJH, VB, IWM, VXF.

CYTK has outperformed the market in the last year with a return of +74.8%, while the SPY ETF gained +22.3%. However, in the most recent history, CYTK shares have underperformed the stock market with its stock returning -18.1% in the last 3 month period and -8.8% for the last 2 week period, while SPY has returned +3.9% and -3.6%, respectively.

CYTK support price is $65.48 and resistance is $69.62 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CYTK stock will trade within this expected range on the day.