Cytokinetics Incorporated (CYTK) Shares are Up 4.79%

Cytokinetics Incorporated (CYTK) has been under a strong bear grip, hence the stock is down -10.91% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 4.62% in the past 1 week. The stock has risen by 4.79% in the past week indicating that the buyers are active at lower levels, but the stock is down -11.39% in the past 4 weeks.

The stock has recorded a 20-day Moving Average of 0.34% and the 50-Day Moving Average is 13.47%.The 200 Day SMA reached 4.32%

Cytokinetics

Cytokinetics Incorporated (NASDAQ:CYTK): After opening at $8.98, the stock dipped to an intraday low of $8.86 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $9.353 and the buying power remained strong till the end. The stock closed at $9.18 for the day, a gain of 2.57% for the day session. The total traded volume was 689,829. The stocks close on the previous trading day was $9.18.

Cytokinetics Incorporated (CYTK) has been rated by 5 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $24 and the lowest price target forecast is $16. The average forecast of all the analysts is $20.6 and the expected standard deviation is $3.85.

Cytokinetics, Incorporated is a clinical stage biopharmaceutical company. The Company is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions. The Companys drug candidates that are in clinical development are its skeletal muscle activators tirasemtiv and CK-2127107 and its cardiac muscle activator omecamtiv mecarbil. Tirasemtiv and CK-2127107 are structurally distinct and selective small molecules that activate the fast skeletal muscle troponin complex in the sarcomere by increasing its sensitivity to calcium, leading to an increase in skeletal muscle contractility. COSMIC-HF (Chronic Oral Study of Myosin Activation to Increase Contractility in Heart Failure) is a Phase II clinical trial designed to assess the pharmacokinetics and tolerability of omecamtiv mecarbil dosed orally in patients with heart failure and left ventricular systolic dysfunction.

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