Insight into Whales’ Bets on Cytokinetics – Cytokinetics (NASDAQ:CYTK) Insight into Whales’ Bets on Cytokinetics

By: Alex Freidmen

Cytokinetics NASDAQ:CYTK is gaining the attention of major investors who are taking a bearish stance on the company.

We noticed this revelation through publicly available options history tracked by Benzinga, indicating a significant development which retail traders should take note of.

Whether these significant investments come from institutions or affluent individuals remains unclear. Yet, such substantial movements often signify that insiders are privy to potential forthcoming events.

How do we discern the actions of these high-profile investors?

Today, Benzinga’s options scanner has detected 85 unusual options trades for Cytokinetics.

This unusual level of activity indicates a departure from the norm.

The sentiments among these high-stake traders are divided, with 37% expressing bullish views and 62% adopting a bearish outlook.

Of the peculiar options uncovered, 9 are puts amounting to $740,860, while 76 are calls totaling $7,522,268.

Projections of Price Targets

Upon analyzing the Volume and Open Interest in these contracts, it appears that significant players have been eyeing a price window of $36.0 to $125.0 for Cytokinetics over the past quarter.

Analysis of Volume and Open Interest

Scrutinizing the volume and open interest furnishes vital insights into stock research. This data is pivotal for assessing liquidity and interest levels pertaining to Cytokinetics’s options at specific strike prices. Here, we present a snapshot of the trends in volume and open interest for calls and puts across Cytokinetics’s major trades within a strike price range of $36.0 to $125.0 over the past month.

Summary of Cytokinetics Option Volume And Open Interest Over Last 30 Days

Detected Significant Options Trades

SymbolPUT/CALLTrade TypeSentimentExp. DateStrike PriceTotal Trade PriceOpen InterestVolume
CYTKCALLTRADEBEARISH01/19/24$45.00$1.1M14.0K252
CYTKCALLSWEEPBEARISH01/19/24$45.00$1.0M14.0K502
CYTKPUTTRADEBEARISH01/19/24$80.00$271.0K7251.0K
CYTKCALLTRADEBEARISH01/19/24$60.00$157.7K18.4K130
CYTKCALLTRADEBEARISH06/21/24$40.00$134.7K551475

About Cytokinetics

Cytokinetics Inc. is a biotechnology company that specializes in developing muscle biology-driven treatments for diseases characterized by reduced muscle function, weakness, and fatigue. The company’s focus lies in treating ailments such as amyotrophic lateral sclerosis, heart failure, spinal muscular atrophy, and chronic obstructive pulmonary disease. Its approach revolves around small molecules designed to enhance muscle function and contractility, with the goal of potentially improving the health span of individuals grappling with debilitating cardiovascular and neuromuscular diseases.

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Present Market Standing of Cytokinetics

  • With a trading volume of 4,158,467, the price of CYTK is down by -0.14%, hovering at $88.12.
  • Current RSI values suggest that the stock may be overbought.
  • The next earnings report is slated for 54 days from now.

Expert Insights on Cytokinetics

Five industry analysts have shared their perspective on this stock over the past month, proposing an average target price of $94.0.

  • An analyst from Morgan Stanley has revised the rating downward to Equal-Weight, setting the price target at $90.
  • An analyst from HC Wainwright & Co. maintains their Buy rating on Cytokinetics, with a target price of $94.
  • Similarly, an analyst from Needham holds a Buy rating on Cytokinetics, with a target price of $108.
  • A Truist Securities analyst continues to uphold a Buy rating for Cytokinetics, targeting a price of $86.
  • Also echoing a positive sentiment, an analyst from Raymond James maintains an Outperform rating for Cytokinetics, aiming for a price of $92.

Options entail more risk compared to stock trading, yet offer greater profit potential. Seasoned options traders navigate this risk by staying informed, gradually entering and exiting trades, utilizing multiple indicators, and closely monitoring the markets.

For those seeking real-time updates on the latest options trades for Cytokinetics, Benzinga Pro offers valuable options trade alerts.