Cytokinetics (NASDAQ:CYTK) EVP Fady Ibraham Malik Sells 12,033 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 12,033 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $62.15, for a total value of $747,850.95. Following the completion of the transaction, the executive vice president directly owned 153,902 shares in the company, valued at $9,565,009.30. The trade was a 7.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, March 9th, Fady Ibraham Malik sold 2,907 shares of Cytokinetics stock. The stock was sold at an average price of $60.72, for a total value of $176,513.04.

Cytokinetics Trading Up 0.1%

NASDAQ:CYTK opened at $62.19 on Thursday. The stock has a 50 day simple moving average of $63.80 and a 200 day simple moving average of $60.94. The stock has a market cap of $7.66 billion, a P/E ratio of -9.52 and a beta of 0.56. Cytokinetics, Incorporated has a 1-year low of $29.31 and a 1-year high of $70.98.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) EPS for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.02). The business had revenue of $17.76 million during the quarter, compared to analysts’ expectations of $8.02 million. Cytokinetics’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted ($1.26) earnings per share. As a group, sell-side analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CYTK. UBS Group raised their price target on shares of Cytokinetics from $61.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, March 6th. Morgan Stanley set a $90.00 target price on shares of Cytokinetics in a research report on Thursday, January 8th. Citizens Jmp raised their target price on shares of Cytokinetics from $88.00 to $96.00 and gave the stock a “market outperform” rating in a report on Wednesday, February 25th. Royal Bank Of Canada lifted their price target on shares of Cytokinetics from $95.00 to $101.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. Finally, Citigroup reiterated a “market outperform” rating on shares of Cytokinetics in a research note on Monday, December 22nd. Seventeen investment 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.89.

Trending Headlines about Cytokinetics

Here are the key news stories impacting Cytokinetics this week:

• Positive Sentiment: JPMorgan raised its price target on CYTK from $74 to $75 and kept an overweight rating, providing additional analyst support for the stock. JPMorgan Boosts Cytokinetics Price Target to $75.00
• Positive Sentiment: Mizuho raised its price target to $100 and reiterated an outperform view, representing material upside vs. the current share price and likely attracting momentum buying. Mizuho Raises Price Target to $100
• Positive Sentiment: Barclays kept a buy rating on CYTK, which reinforces analyst demand-side support from multiple firms. Barclays Keeps Their Buy Rating on Cytokinetics
• Neutral Sentiment: Cytokinetics granted inducement awards (8,628 stock options and 5,719 RSUs) to five recent hires under Nasdaq Rule 5635(c)(4). This is standard hiring compensation; it could cause modest dilution over time but is aimed at talent acquisition. Cytokinetics Announces Inducement Grants
• Negative Sentiment: Several insiders sold sizable positions this week — including CEO Robert I. Blum (36,601 shares) and multiple EVPs — totaling multimillion‑dollar transactions. Insider selling can create near‑term selling pressure or be viewed as portfolio diversification; filings are available with the SEC. Form 4 — CEO Insider Sale

Institutional Investors Weigh In On Cytokinetics

A number of large investors have recently bought and sold shares of CYTK. Rockefeller Capital Management L.P. increased its holdings in Cytokinetics by 842.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 641 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 573 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of Cytokinetics by 46.4% during the 4th quarter. Corient Private Wealth LLC now owns 7,044 shares of the biopharmaceutical company’s stock worth $447,000 after acquiring an additional 2,231 shares during the period. Seven Fleet Capital Management LP acquired a new stake in shares of Cytokinetics during the 4th quarter worth approximately $657,000. Alpine Global Management LLC acquired a new stake in shares of Cytokinetics during the 4th quarter worth approximately $381,000. Finally, Pacer Advisors Inc. increased its stake in Cytokinetics by 76.5% in the fourth quarter. Pacer Advisors Inc. now owns 27,783 shares of the biopharmaceutical company’s stock valued at $1,765,000 after acquiring an additional 12,043 shares during the last quarter.

Cytokinetics Company Profile

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.