Fady Ibraham Malik Sells 3,500 Shares of Cytokinetics (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $80.59, for a total value of $282,065.00. Following the completion of the transaction, the executive vice president owned 153,902 shares in the company, valued at $12,402,962.18. The trade was a 2.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, July 7th, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $86.62, for a total value of $303,170.00.
• On Tuesday, June 23rd, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $79.51, for a total value of $278,285.00.
• On Tuesday, June 9th, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $67.98, for a total value of $237,930.00.
• On Tuesday, May 5th, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $77.37, for a total value of $270,795.00.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK opened at $78.39 on Thursday. The company has a market capitalization of $9.75 billion, a PE ratio of -11.46 and a beta of 0.42. The business has a fifty day moving average price of $78.70 and a two-hundred day moving average price of $70.21. Cytokinetics, Incorporated has a 1 year low of $32.89 and a 1 year high of $88.31.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($1.67). The business had revenue of $19.36 million for the quarter, compared to analysts’ expectations of $8.52 million. The company’s revenue for the quarter was up 1112.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.36) earnings per share. Sell-side analysts anticipate that Cytokinetics, Incorporated will post -6.2 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Citigroup began coverage on shares of Cytokinetics in a research note on Monday, May 18th. They issued a “buy” rating and a $99.00 target price on the stock. HC Wainwright lifted their price target on shares of Cytokinetics from $136.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Morgan Stanley upped their price objective on Cytokinetics from $90.00 to $103.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Wells Fargo & Company raised their target price on Cytokinetics from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Stifel Nicolaus boosted their target price on Cytokinetics from $98.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Cytokinetics presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.90.

Institutional Trading of Cytokinetics

Institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its holdings in Cytokinetics by 723.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 673 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of Cytokinetics in the fourth quarter worth about $27,000. Kestra Advisory Services LLC purchased a new stake in shares of Cytokinetics in the fourth quarter worth about $29,000. Quarry LP bought a new position in shares of Cytokinetics in the third quarter valued at approximately $30,000. Finally, TD Waterhouse Canada Inc. bought a new position in shares of Cytokinetics in the fourth quarter valued at approximately $32,000.

About Cytokinetics

Cytokinetics, Inc is a late?stage biopharmaceutical company focused on the discovery and development of novel small?molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.