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

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 7,300 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $53.72, for a total value of $392,156.00. Following the completion of the sale, the executive vice president now owns 133,004 shares of the company’s stock, valued at $7,144,974.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Tuesday, June 11th, Fady Ibraham Malik sold 7,788 shares of Cytokinetics stock. The shares were sold at an average price of $53.04, for a total value of $413,075.52.
• On Tuesday, May 7th, Fady Ibraham Malik sold 15,547 shares of Cytokinetics stock. The shares were sold at an average price of $65.11, for a total value of $1,012,265.17.
• On Tuesday, April 9th, Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock. The shares were sold at an average price of $74.31, for a total value of $2,422,877.55.

Cytokinetics Price Performance

Shares of Cytokinetics stock opened at $51.75 on Thursday. Cytokinetics, Incorporated has a one year low of $25.98 and a one year high of $110.25. The stock’s 50-day moving average is $57.30 and its 200 day moving average is $66.77. The firm has a market cap of $5.43 billion, a price-to-earnings ratio of -9.58 and a beta of 0.74.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($1.16) by ($0.17). The company had revenue of $0.84 million during the quarter, compared to the consensus estimate of $0.91 million. Cytokinetics’s quarterly revenue was down 81.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.38) EPS. On average, sell-side analysts expect that Cytokinetics, Incorporated will post -4.55 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on CYTK shares. Needham & Company LLC dropped their price objective on Cytokinetics from $108.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. JPMorgan Chase & Co. lowered their price target on Cytokinetics from $77.00 to $65.00 and set an “overweight” rating for the company in a report on Monday. Mizuho lowered their target price on Cytokinetics from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, March 6th. Barclays lowered their target price on Cytokinetics from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. Finally, Truist Financial reduced their price target on Cytokinetics from $86.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Cytokinetics currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.06.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Cytokinetics by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 11,016,889 shares of the biopharmaceutical company’s stock worth $919,800,000 after acquiring an additional 273,565 shares in the last quarter. First Turn Management LLC bought a new position in Cytokinetics in the fourth quarter worth approximately $67,414,000. Charles Schwab Investment Management Inc. boosted its holdings in Cytokinetics by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 789,969 shares of the biopharmaceutical company’s stock worth $65,955,000 after acquiring an additional 33,257 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Cytokinetics in the first quarter worth approximately $51,277,000. Finally, Norges Bank purchased a new stake in shares of Cytokinetics in the fourth quarter worth approximately $60,299,000.

Cytokinetics Company Profile

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.