Cytokinetics (NASDAQ:CYTK) EVP Sells $214,830.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Malik sold 3,500 shares of the stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $61.38, for a total value of $214,830.00. Following the completion of the transaction, the executive vice president directly owned 153,902 shares of the company’s stock, valued at $9,446,504.76. This represents a 2.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 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, September 22nd, Fady Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $68.29, for a total value of $239,015.00.
• On Tuesday, September 8th, Fady Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $75.46, for a total value of $264,110.00.
• On Tuesday, August 18th, Fady Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $75.82, for a total value of $265,370.00.
• On Tuesday, July 21st, Fady Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $80.59, for a total transaction of $282,065.00.

Cytokinetics Trading Up 1.5%

Shares of NASDAQ:CYTK opened at $62.01 on Friday. The company has a fifty day simple moving average of $72.03 and a 200 day simple moving average of $73.25. The firm has a market cap of $7.72 billion, a PE ratio of -8.59 and a beta of 0.41. Cytokinetics, Incorporated has a 12-month low of $54.30 and a 12-month high of $88.31.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.50) EPS for the quarter, beating analysts’ consensus estimates of ($1.63) by $0.13. The company had revenue of $28.62 million for the quarter, compared to the consensus estimate of $17.59 million. The company’s revenue was down 57.1% compared to the same quarter last year. During the same quarter last year, the company earned ($1.12) earnings per share. As a group, equities research analysts forecast that Cytokinetics, Incorporated will post -5.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Mizuho increased their price target on shares of Cytokinetics from $100.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 24th. Needham & Company LLC boosted their price objective on Cytokinetics from $102.00 to $112.00 and gave the company a “buy” rating in a report on Friday, August 7th. Citizens Jmp upped their price objective on Cytokinetics from $105.00 to $110.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cytokinetics in a report on Friday, July 17th. Finally, Citigroup reiterated a “market outperform” rating on shares of Cytokinetics in a research report on Friday, August 7th. Eighteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Cytokinetics currently has a consensus rating of “Moderate Buy” and an average price target of $106.06.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CYTK. GAMMA Investing LLC raised its stake in Cytokinetics by 8.6% during the third quarter. GAMMA Investing LLC now owns 2,700 shares of the biopharmaceutical company’s stock worth $178,000 after acquiring an additional 213 shares during the period. Cim Investment Management Inc. boosted its stake in Cytokinetics by 20.9% in the second quarter. Cim Investment Management Inc. now owns 5,657 shares of the biopharmaceutical company’s stock valued at $482,000 after acquiring an additional 979 shares during the period. Tidal Investments LLC boosted its stake in Cytokinetics by 24.7% in the second quarter. Tidal Investments LLC now owns 24,921 shares of the biopharmaceutical company’s stock valued at $2,123,000 after acquiring an additional 4,938 shares during the period. WINTON GROUP Ltd bought a new position in shares of Cytokinetics during the second quarter valued at approximately $774,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Cytokinetics during the second quarter valued at approximately $36,000.

About Cytokinetics

Cytokinetics, Incorporated is a biopharmaceutical company focused on discovering and developing medicines that improve muscle function. The company applies muscle biology and molecular pharmacology to develop therapies for cardiovascular and neuromuscular diseases in which impaired muscle performance contributes to disease progression or disability.

Its lead programs include aficamten, a next-generation cardiac myosin inhibitor being developed for hypertrophic cardiomyopathy, and other investigational compounds designed to modulate the activity of cardiac or skeletal muscle.