Cytokinetics's Options Frenzy: What You Need to Know

Investors with a lot of money to spend have taken a bearish stance on Cytokinetics CYTK.

And retail traders should know.

We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CYTK, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 8 options trades for Cytokinetics.

This isn't normal.

The overall sentiment of these big-money traders is split between 37% bullish and 62%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $85,500, and 7, calls, for a total amount of $432,428.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $50.0 to $100.0 for Cytokinetics over the recent three months.

Insights into Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Cytokinetics's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Cytokinetics's whale activity within a strike price range from $50.0 to $100.0 in the last 30 days.

Cytokinetics Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

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.

Present Market Standing of Cytokinetics

• With a volume of 107,975, the price of CYTK is up 0.66% at $85.51.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 47 days.

Professional Analyst Ratings for Cytokinetics

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $94.0.

• In a cautious move, an analyst from Morgan Stanley downgraded its rating to Equal-Weight, setting a price target of $90.
• An analyst from Needham has decided to maintain their Buy rating on Cytokinetics, which currently sits at a price target of $108.
• Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for Cytokinetics, targeting a price of $86.
• Consistent in their evaluation, an analyst from Raymond James keeps a Outperform rating on Cytokinetics with a target price of $92.
• An analyst from HC Wainwright & Co. persists with their Buy rating on Cytokinetics, maintaining a target price of $94.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Cytokinetics options trades with real-time alerts from Benzinga Pro.