Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells $91,840.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 2,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $45.92, for a total transaction of $91,840.00. Following the transaction, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at approximately $5,329,980.32. This trade represents a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Tuesday, January 7th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The stock was sold at an average price of $49.32, for a total value of $98,640.00.
• On Tuesday, December 10th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $50.64, for a total transaction of $369,672.00.
• On Tuesday, November 26th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The shares were sold at an average price of $50.16, for a total value of $366,168.00.
• On Tuesday, November 12th, Fady Ibraham Malik sold 6,342 shares of Cytokinetics stock. The shares were sold at an average price of $58.48, for a total value of $370,880.16.
• On Wednesday, October 30th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $51.91, for a total transaction of $378,943.00.

Cytokinetics Stock Performance

Shares of Cytokinetics stock traded up $0.08 during trading hours on Tuesday, reaching $45.82. 1,255,095 shares of the stock traded hands, compared to its average volume of 1,121,475. Cytokinetics, Incorporated has a one year low of $44.49 and a one year high of $84.92. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of -8.52 and a beta of 0.82. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The company has a 50 day moving average price of $49.33 and a 200 day moving average price of $53.14.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The business had revenue of $0.46 million for the quarter, compared to analyst estimates of $1.21 million. During the same period in the prior year, the company posted ($1.35) earnings per share. The company’s revenue was up 22.5% compared to the same quarter last year. On average, equities research analysts expect that Cytokinetics, Incorporated will post -5.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CYTK. HC Wainwright reissued a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research note on Monday, December 2nd. Royal Bank of Canada lifted their price target on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. JMP Securities reissued a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research report on Tuesday, January 14th. Finally, Mizuho increased their target price on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $83.64.

Hedge Funds Weigh In On Cytokinetics

A number of institutional investors have recently bought and sold shares of CYTK. Darwin Global Management Ltd. purchased a new stake in Cytokinetics in the second quarter worth about $246,074,000. Geode Capital Management LLC increased its holdings in Cytokinetics by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock worth $150,433,000 after acquiring an additional 109,938 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Cytokinetics by 42.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock worth $69,769,000 after acquiring an additional 395,709 shares during the period. Westfield Capital Management Co. LP lifted its holdings in Cytokinetics by 38.9% during the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock valued at $64,040,000 after purchasing an additional 339,373 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Cytokinetics by 17.2% in the third quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock worth $60,399,000 after purchasing an additional 167,501 shares during the period.

About Cytokinetics

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.