Fady Ibraham Malik Sells 32,604 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTKGet Free Report) EVP Fady Ibraham Malik sold 32,604 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $67.56, for a total transaction of $2,202,726.24. Following the completion of the sale, the executive vice president now directly owns 138,973 shares in the company, valued at $9,389,015.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

  • On Tuesday, February 6th, Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock. The shares were sold at an average price of $79.30, for a total transaction of $2,585,576.50.
  • On Thursday, January 4th, Fady Ibraham Malik sold 15,678 shares of Cytokinetics stock. The shares were sold at an average price of $86.98, for a total transaction of $1,363,672.44.

Cytokinetics Stock Performance

Shares of Cytokinetics stock opened at $66.88 on Thursday. Cytokinetics, Incorporated has a one year low of $25.98 and a one year high of $110.25. The company has a market cap of $6.89 billion, a P/E ratio of -12.27 and a beta of 0.69. The firm has a fifty day moving average of $81.26 and a two-hundred day moving average of $50.79.

Cytokinetics (NASDAQ:CYTKGet Free Report) last released its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The company had revenue of $1.70 million for the quarter, compared to analyst estimates of $7.62 million. During the same quarter in the previous year, the company earned ($1.45) earnings per share. The business’s revenue was down 10.5% on a year-over-year basis. As a group, equities analysts predict that Cytokinetics, Incorporated will post -4.48 earnings per share for the current year.

Institutional Investors Weigh In On Cytokinetics

Several hedge funds have recently modified their holdings of the stock. Maryland State Retirement & Pension System boosted its position in shares of Cytokinetics by 0.8% in the fourth quarter. Maryland State Retirement & Pension System now owns 35,637 shares of the biopharmaceutical company’s stock worth $2,975,000 after acquiring an additional 278 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Cytokinetics by 9.6% in the fourth quarter. Quadrant Capital Group LLC now owns 3,268 shares of the biopharmaceutical company’s stock valued at $273,000 after buying an additional 287 shares during the period. Captrust Financial Advisors raised its holdings in Cytokinetics by 7.8% in the third quarter. Captrust Financial Advisors now owns 4,177 shares of the biopharmaceutical company’s stock valued at $202,000 after buying an additional 304 shares during the period. Mutual of America Capital Management LLC raised its holdings in Cytokinetics by 2.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 17,162 shares of the biopharmaceutical company’s stock valued at $1,433,000 after buying an additional 337 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Cytokinetics by 4.8% in the third quarter. PNC Financial Services Group Inc. now owns 7,373 shares of the biopharmaceutical company’s stock valued at $217,000 after buying an additional 340 shares during the period.

Analysts Set New Price Targets

CYTK has been the topic of several recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $94.00 target price on shares of Cytokinetics in a research note on Wednesday, February 28th. Mizuho lowered their price target on shares of Cytokinetics from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday. The Goldman Sachs Group started coverage on shares of Cytokinetics in a report on Thursday, November 9th. They set a “buy” rating and a $50.00 price target for the company. Raymond James boosted their price target on shares of Cytokinetics from $63.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, December 28th. Finally, Truist Financial boosted their price target on shares of Cytokinetics from $60.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, December 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

Check Out Our Latest Analysis on Cytokinetics

About Cytokinetics

(Get Free Report)

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.

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