Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells $420,961.84 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 7,384 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.01, for a total transaction of $420,961.84. Following the transaction, the executive vice president now directly owns 122,920 shares of the company’s stock, valued at $7,007,669.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, August 6th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $53.71, for a total transaction of $392,083.00.
• On Tuesday, July 23rd, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $57.02, for a total transaction of $416,246.00.
• On Tuesday, July 9th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $55.90, for a total transaction of $408,070.00.
• On Tuesday, June 25th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The shares were sold at an average price of $53.72, for a total transaction of $392,156.00.
• 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 transaction of $413,075.52.

Cytokinetics Stock Up 0.6 %

Shares of NASDAQ CYTK opened at $54.89 on Thursday. Cytokinetics, Incorporated has a 1 year low of $25.98 and a 1 year high of $110.25. The firm’s 50 day moving average price is $56.19 and its 200 day moving average price is $60.88. The firm has a market cap of $6.46 billion, a P/E ratio of -10.16 and a beta of 0.75. The company has a debt-to-equity ratio of 5.93, a quick ratio of 10.39 and a current ratio of 10.39.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.25). The company had revenue of $0.25 million for the quarter, compared to analysts’ expectations of $7.61 million. During the same quarter in the prior year, the business posted ($1.34) EPS. The business’s revenue was down 71.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cytokinetics, Incorporated will post -5.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

CYTK has been the subject of a number of research analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a report on Wednesday. B. Riley dropped their target price on shares of Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, June 4th. The Goldman Sachs Group cut shares of Cytokinetics from a “buy” rating to a “neutral” rating and dropped their target price for the company from $85.00 to $60.00 in a report on Tuesday, August 13th. Truist Financial dropped their target price on shares of Cytokinetics from $86.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. Finally, Barclays dropped their price objective on shares of Cytokinetics from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.27.

Institutional Trading of Cytokinetics

A number of hedge funds have recently bought and sold shares of the company. Darwin Global Management Ltd. acquired a new position in shares of Cytokinetics in the 2nd quarter valued at $246,074,000. First Turn Management LLC acquired a new position in shares of Cytokinetics in the 4th quarter valued at $67,414,000. Westfield Capital Management Co. LP acquired a new position in shares of Cytokinetics in the 1st quarter valued at $51,277,000. Norges Bank acquired a new position in shares of Cytokinetics in the 4th quarter valued at $60,299,000. Finally, Integral Health Asset Management LLC boosted its holdings in shares of Cytokinetics by 122.2% in the 2nd quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $54,180,000 after purchasing an additional 550,000 shares during the last quarter.

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.