Cytokinetics (NASDAQ:CYTK) EVP Sells $146,190.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 2,200 shares of Cytokinetics stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $66.45, for a total value of $146,190.00. Following the transaction, the executive vice president directly owned 140,610 shares of the company’s stock, valued at approximately $9,343,534.50. This represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, November 4th, Fady Ibraham Malik sold 2,295 shares of Cytokinetics stock. The shares were sold at an average price of $59.55, for a total value of $136,667.25.
• On Tuesday, October 21st, Fady Ibraham Malik sold 2,105 shares of Cytokinetics stock. The shares were sold at an average price of $58.22, for a total value of $122,553.10.
• On Tuesday, October 7th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The stock was sold at an average price of $60.56, for a total value of $121,120.00.
• On Tuesday, September 23rd, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The stock was sold at an average price of $49.28, for a total transaction of $98,560.00.
• On Tuesday, September 9th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were sold at an average price of $51.29, for a total transaction of $102,580.00.

Cytokinetics Trading Down 2.0%

NASDAQ:CYTK opened at $63.50 on Friday. The company has a market capitalization of $7.76 billion, a P/E ratio of -12.45 and a beta of 0.58. The firm has a 50-day moving average price of $58.09 and a two-hundred day moving average price of $43.64. Cytokinetics, Incorporated has a twelve month low of $29.31 and a twelve month high of $67.98.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) EPS for the quarter, beating the consensus estimate of ($1.59) by $0.05. The business had revenue of $1.94 million during the quarter, compared to analyst estimates of $6.05 million. During the same quarter in the prior year, the company earned ($1.36) earnings per share. The firm’s revenue for the quarter was up 318.1% compared to the same quarter last year. On average, equities research analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Institutional Trading of Cytokinetics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in shares of Cytokinetics during the 3rd quarter worth about $30,000. Advisory Services Network LLC acquired a new position in Cytokinetics during the third quarter worth approximately $32,000. Johnson Financial Group Inc. purchased a new position in Cytokinetics during the third quarter worth approximately $40,000. EverSource Wealth Advisors LLC raised its stake in Cytokinetics by 723.7% during the second quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 673 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Cytokinetics in the 3rd quarter valued at $45,000.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CYTK shares. Wall Street Zen cut Cytokinetics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Raymond James Financial initiated coverage on Cytokinetics in a research report on Wednesday, July 30th. They issued a “market perform” rating on the stock. B. Riley reiterated a “buy” rating and set a $90.00 price objective (up previously from $80.00) on shares of Cytokinetics in a research report on Monday, November 10th. Evercore ISI boosted their target price on shares of Cytokinetics from $60.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. Finally, Barclays raised their price target on shares of Cytokinetics from $71.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday, October 6th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cytokinetics has a consensus rating of “Moderate Buy” and an average price target of $77.86.

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.