Bearish Sentiment Surfaces
Cytokinetics, a promising biotechnology company, has caught the attention of big-money investors who aren’t shy about showing their bearish stance.
And retail traders should sit up and take notice.
These bearish trades, spotted on Benzinga’s options scanner, may reflect a telling shift in sentiment towards Cytokinetics. However, the true identity of these astute traders remains a tantalizing mystery.
Whether these are institutions or just wealthy individuals, the scale of these trades suggests an informed opinion on Cytokinetics’ trajectory.
In the world of high finance, one might think of this as the whales’ game, where every move bears a hidden intention, and more so when it involves a stock like Cytokinetics.
So how do we know what these investors just did? Here’s the scoop:
Today, Benzinga’s options scanner unearthed 85 uncommon options trades for Cytokinetics.
This isn’t normal.
Far from it.
Delving into this activity, the prevailing sentiment among these big-money traders is split between 37% bullish and 62% bearish.
Out of all these eye-catching options, 9 were puts to the tune of $740,860, while 76 were calls, amassing $7,522,268. A clear sign of the considerable stakes at play.
Projected Price Range Unveiled
Scrutinizing the Volume and Open Interest in these contracts reveals that the big players have set their sights on a price window from $36.0 to $125.0 for Cytokinetics during the past quarter.
Insights from Volume & Open Interest
Analyzing 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 $36.0 to $125.0, over the past month.
Remarkable Options Trades Uncovered
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CYTK | CALL | TRADE | BEARISH | 01/19/24 | $45.00 | $1.1M | 14.0K | 252 |
| CYTK | CALL | SWEEP | BEARISH | 01/19/24 | $45.00 | $1.0M | 14.0K | 502 |
| CYTK | PUT | TRADE | BEARISH | 01/19/24 | $80.00 | $271.0K | 725 | 1.0K |
| CYTK | CALL | TRADE | BEARISH | 01/19/24 | $60.00 | $157.7K | 18.4K | 130 |
| CYTK | CALL | TRADE | BEARISH | 06/21/24 | $40.00 | $134.7K | 551 | 475 |
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.
Present Market Standing of Cytokinetics
- With a trading volume of 4,158,467, the price of CYTK is down by -0.14%, reaching $88.12.
- Current RSI values indicate that the stock may be overbought.
- The next earnings report is scheduled for 54 days from now.
Expert Commentary on Cytokinetics
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $94.0.
- An analyst from Morgan Stanley has revised its rating downward to Equal-Weight, adjusting the price target to $90.
- An analyst from HC Wainwright & Co. persists with their Buy rating on Cytokinetics, maintaining a target price of $94.
- Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Cytokinetics with a target price of $108.
- Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for Cytokinetics, targeting a price of $86.
- Maintaining their stance, an analyst from Raymond James continues to hold a Outperform rating for Cytokinetics, targeting a price of $92.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
For the latest options trades for Cytokinetics, Benzinga Pro offers real-time options trade alerts.
