Cytokinetics Unusual Options Activity For January 23

Financial giants have made a conspicuous bullish move on Cytokinetics. Our analysis of options history for Cytokinetics CYTK revealed 8 unusual trades.

Delving into the details, we found 50% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $301,900, and 5 were calls, valued at $1,252,102.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $80.0 to $110.0 for Cytokinetics over the last 3 months.

Analyzing Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Cytokinetics's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Cytokinetics's significant trades, within a strike price range of $80.0 to $110.0, over the past month.

Cytokinetics 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

About Cytokinetics

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 disease. 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.

After a thorough review of the options trading surrounding Cytokinetics, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Cytokinetics

• With a trading volume of 633,771, the price of CYTK is down by -1.72%, reaching $82.25.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 36 days from now.

What The Experts Say On Cytokinetics

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $95.8.

• Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Cytokinetics with a target price of $86.
• An analyst from Needham has decided to maintain their Buy rating on Cytokinetics, which currently sits at a price target of $108.
• An analyst from Mizuho has decided to maintain their Buy rating on Cytokinetics, which currently sits at a price target of $103.
• An analyst from Raymond James has decided to maintain their Outperform rating on Cytokinetics, which currently sits at a price target of $92.
• Reflecting concerns, an analyst from Morgan Stanley lowers its rating to Equal-Weight with a new price target of $90.

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