Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik Sells 7,300 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $50.64, for a total transaction of $369,672.00. Following the sale, the executive vice president now directly owns 116,071 shares in the company, valued at $5,877,835.44. This trade represents a 5.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Fady Ibraham Malik also recently made the following trade(s):

• On Tuesday, November 26th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $50.16, for a total transaction of $366,168.00.
• On Tuesday, November 12th, Fady Ibraham Malik sold 6,342 shares of Cytokinetics stock. The shares were sold at an average price of $58.48, for a total value of $370,880.16.
• On Wednesday, October 30th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $51.91, for a total value of $378,943.00.
• On Tuesday, October 15th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The shares were sold at an average price of $54.19, for a total transaction of $395,587.00.
• On Tuesday, October 1st, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $52.10, for a total transaction of $380,330.00.

Cytokinetics Trading Up 0.1 %

CYTK traded up $0.05 during trading hours on Tuesday, reaching $50.55. The company’s stock had a trading volume of 703,009 shares, compared to its average volume of 2,004,818. The stock has a market cap of $5.97 billion, a PE ratio of -9.39 and a beta of 0.80. Cytokinetics, Incorporated has a fifty-two week low of $32.70 and a fifty-two week high of $110.25. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The business’s 50-day moving average is $52.99 and its 200-day moving average is $54.04.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The business had revenue of $0.46 million for the quarter, compared to analyst estimates of $1.21 million. During the same period in the previous year, the company posted ($1.35) EPS. Cytokinetics’s revenue was up 22.5% on a year-over-year basis. As a group, equities research analysts predict that Cytokinetics, Incorporated will post -5.25 earnings per share for the current fiscal year.

Institutional Trading of Cytokinetics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Retirement Systems of Alabama grew its stake in shares of Cytokinetics by 1.0% in the third quarter. Retirement Systems of Alabama now owns 142,930 shares of the biopharmaceutical company’s stock valued at $7,547,000 after buying an additional 1,414 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Cytokinetics by 12.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 56,885 shares of the biopharmaceutical company’s stock valued at $3,003,000 after acquiring an additional 6,300 shares in the last quarter. Geode Capital Management LLC increased its stake in Cytokinetics by 4.0% during the third quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock worth $150,433,000 after purchasing an additional 109,938 shares during the period. XTX Topco Ltd acquired a new stake in shares of Cytokinetics during the third quarter worth about $521,000. Finally, Two Sigma Advisers LP purchased a new position in shares of Cytokinetics in the third quarter valued at approximately $11,336,000.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CYTK shares. Needham & Company LLC restated a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research report on Monday, December 2nd. HC Wainwright restated a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a report on Monday, December 2nd. Mizuho upped their target price on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. increased their target price on shares of Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Finally, Royal Bank of Canada began coverage on shares of Cytokinetics in a research note on Friday, November 8th. They set an “outperform” rating and a $80.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

About Cytokinetics

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.