Notable Thursday Option Activity: CMG, FNKO, CYTK Thursday, December 28, 4:01 PM ET, by Market News Video Staff Looking at options trading activity among components of the Russell 3000 index, there is noteworthy ...
SPDR S&P Biotech ETF Experiences Big Outflow Tuesday, January 2, 12:23 PM ET, by Market News Video Staff Symbols mentioned in this story: XBI, KRTX, ACAD, CYTK Exchange traded funds (ETFs) trade just ...
Notable ETF Inflow Detected - IWM, MSTR, SSD, CYTK Wednesday, January 10, 10:50 AM ET, by Market News Video Staff Symbols mentioned in this story: IWM, MSTR, SSD, CYTK Exchange traded funds (ETFs) trade just ...
Notable Tuesday Option Activity: AMPY, CYTK, PRGS Tuesday, January 16, 5:24 PM ET, by Market News Video Staff Looking at options trading activity among components of the Russell 3000 index, there is noteworthy ...
Investors Land CYTK Even Cheaper Than Its Secondary Stock Offering
By Market News Video Staff, Tuesday, July 27, 11:37 AM ET
Looking back to 7 days ago, Cytokinetics Inc (NASDAQ:CYTK) priced a 10,000,000 share secondary stock offering at $27.50 per share. Buyers in that offering made a considerable investment into the company, expecting that their investment would go up over the course of time. In trading on Tuesday, bargain hunters could buy shares of CYTK and achieve a cost basis 1.5% cheaper than those buyers, with shares changing hands as low as $27.10 per share.
Secondaries can often present buying opportunities for bullish investors interested in purchasing shares, because the sudden extra supply of stock tends to require that the offering be priced at an attractive discount to where the stock had previously been trading before the offering announcement. At last check, Cytokinetics Inc shares are currently trading down about 3.9% on the day. The chart below shows the one year performance of CYTK shares, versus its 200 day moving average:
Looking at the chart above, CYTK's low point in its 52 week range is $14.71 per share, with $31.41 as the 52 week high point — that compares with a last trade of $27.07.
This Article's Word Cloud:BuyersCYTKCytokineticsDaysDollarsJoinLookingOfferOfferingsRecentSecondariesSecondarySevenSpecialStartStockTuesdayValueForumaboutaboveachieveannouncementattractiveaveragebackbargainbasisbecausebeenbeforebelowbullishbuyersbuyingchangingchartcheapercheckinvestmentlastofferingpointpricedsharesharesstockthattradingweekwith
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