Insider Selling: Cytokinetics (NASDAQ:CYTK) EVP Sells 2,200 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 2,200 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $63.89, for a total value of $140,558.00. Following the completion of the sale, the executive vice president directly owned 140,610 shares of the company’s stock, valued at approximately $8,983,572.90. This trade represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, November 18th, Fady Ibraham Malik sold 2,200 shares of Cytokinetics stock. The shares were sold at an average price of $66.45, for a total value of $146,190.00.
• On Tuesday, November 4th, Fady Ibraham Malik sold 2,295 shares of Cytokinetics stock. The stock was 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 shares were 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 3.8%

Shares of CYTK traded down $2.54 during trading hours on Tuesday, reaching $63.51. 2,145,288 shares of the stock traded hands, compared to its average volume of 1,909,717. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $69.33. The company has a market cap of $7.77 billion, a price-to-earnings ratio of -12.45 and a beta of 0.58. The stock has a fifty day simple moving average of $60.62 and a 200 day simple moving average of $45.52.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data 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 firm had revenue of $1.94 million during the quarter, compared to analysts’ expectations of $6.05 million. During the same quarter last year, the business posted ($1.36) EPS. The company’s quarterly revenue was up 318.1% on a year-over-year basis. Analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Evercore ISI lifted their price target on Cytokinetics from $60.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, September 3rd. Barclays boosted their price target on shares of Cytokinetics from $71.00 to $82.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. HC Wainwright restated a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a report on Monday, September 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cytokinetics in a research report on Wednesday, October 8th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research note on Tuesday, September 2nd. Thirteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Cytokinetics has a consensus rating of “Moderate Buy” and a consensus price target of $79.29.

Institutional Trading of Cytokinetics

A number of institutional investors have recently modified their holdings of the business. UMB Bank n.a. boosted its holdings in Cytokinetics by 10.6% in the 3rd quarter. UMB Bank n.a. now owns 1,762 shares of the biopharmaceutical company’s stock worth $97,000 after buying an additional 169 shares during the period. CIBC Private Wealth Group LLC raised its holdings in Cytokinetics by 8.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,484 shares of the biopharmaceutical company’s stock valued at $191,000 after acquiring an additional 261 shares during the period. Fifth Third Bancorp lifted its position in shares of Cytokinetics by 32.3% during the third quarter. Fifth Third Bancorp now owns 1,072 shares of the biopharmaceutical company’s stock worth $59,000 after acquiring an additional 262 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Cytokinetics by 1.1% in the second quarter. Teacher Retirement System of Texas now owns 30,514 shares of the biopharmaceutical company’s stock worth $1,008,000 after acquiring an additional 341 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its holdings in shares of Cytokinetics by 1.7% in the second quarter. KLP Kapitalforvaltning AS now owns 24,000 shares of the biopharmaceutical company’s stock worth $793,000 after acquiring an additional 400 shares during the period.

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.