Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells 7,300 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 7,300 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $52.10, for a total transaction of $380,330.00. Following the completion of the transaction, the executive vice president now directly owns 118,920 shares of the company’s stock, valued at approximately $6,195,732. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, September 3rd, Fady Ibraham Malik sold 7,384 shares of Cytokinetics stock. The stock was sold at an average price of $57.01, for a total transaction of $420,961.84.
• 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.

Cytokinetics Stock Performance

Shares of CYTK traded down $0.20 during midday trading on Tuesday, reaching $52.60. The stock had a trading volume of 990,817 shares, compared to its average volume of 2,227,588. The company has a current ratio of 10.39, a quick ratio of 10.39 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a one year low of $25.98 and a one year high of $110.25. The firm has a market cap of $5.52 billion, a PE ratio of -9.78 and a beta of 0.77. The firm has a 50 day simple moving average of $55.71 and a 200-day simple moving average of $58.67.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.25). The firm had revenue of $0.25 million during the quarter, compared to the consensus estimate of $7.61 million. The company’s revenue was down 71.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.34) earnings per share. As a group, sell-side analysts anticipate that Cytokinetics, Incorporated will post -5.15 EPS for the current year.

Analyst Upgrades and Downgrades

CYTK has been the subject of several research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research note on Monday, September 9th. The Goldman Sachs Group lowered shares of Cytokinetics from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $85.00 to $60.00 in a research report on Tuesday, August 13th. HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of Cytokinetics in a research report on Monday. B. Riley reduced their price target on shares of Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $80.67.

Institutional Investors Weigh In On Cytokinetics

A number of institutional investors and hedge funds have recently modified their holdings of CYTK. J.Safra Asset Management Corp increased its position in Cytokinetics by 642.3% in the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 456 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Cytokinetics in the 1st quarter valued at about $74,000. Bessemer Group Inc. lifted its position in Cytokinetics by 25,100.0% in the 1st quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 1,255 shares during the last quarter. Quarry LP raised its stake in shares of Cytokinetics by 233.3% in the 2nd quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock worth $108,000 after buying an additional 1,400 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of Cytokinetics during the second quarter valued at $190,000.

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.