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

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 3,500 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $79.51, for a total value of $278,285.00. Following the sale, the executive vice president owned 153,902 shares of the company’s stock, valued at approximately $12,236,748.02. The trade was a 2.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through 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, 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 shares were sold at an average price of $77.37, for a total value of $270,795.00.
• On Tuesday, April 21st, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $65.69, for a total value of $229,915.00.
• On Tuesday, April 7th, Fady Ibraham Malik sold 4,500 shares of Cytokinetics stock. The shares were sold at an average price of $65.11, for a total value of $292,995.00.

Cytokinetics Trading Up 1.1%

NASDAQ CYTK traded up $0.84 during trading hours on Tuesday, hitting $80.01. 2,077,613 shares of the company’s stock were exchanged, compared to its average volume of 2,188,945. The firm has a market cap of $9.96 billion, a price-to-earnings ratio of -11.70 and a beta of 0.42. The stock has a 50-day simple moving average of $71.75 and a 200 day simple moving average of $66.48. Cytokinetics, Incorporated has a 1-year low of $32.22 and a 1-year high of $80.80.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly 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 during the quarter, compared to analyst estimates of $8.52 million. Cytokinetics’s quarterly revenue was up 1112.5% compared to the same quarter last year. During the same period last year, the firm posted ($1.36) earnings per share. On average, sell-side analysts anticipate that Cytokinetics, Incorporated will post -6.29 earnings per share for the current fiscal year.

Institutional Trading of Cytokinetics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Kemnay Advisory Services Inc. acquired a new position in Cytokinetics during the fourth quarter worth $27,000. Kestra Advisory Services LLC bought a new stake in shares of Cytokinetics during the fourth quarter worth about $29,000. TD Waterhouse Canada Inc. bought a new stake in shares of Cytokinetics during the fourth quarter worth about $32,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Cytokinetics by 46.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 171 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Cytokinetics in the 3rd quarter worth about $30,000.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Mizuho increased their target price on shares of Cytokinetics from $84.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 18th. Citigroup initiated coverage on shares of Cytokinetics in a research note on Monday, May 18th. They issued a “buy” rating and a $99.00 price target for the company. Wall Street Zen upgraded shares of Cytokinetics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Stifel Nicolaus increased their price objective on shares of Cytokinetics from $98.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Citizens Jmp raised their target price on Cytokinetics from $88.00 to $96.00 and gave the company a “market outperform” rating in a research note on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $99.30.

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.