Cytokinetics (NASDAQ:CYTK) EVP Sells $220,255.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Malik sold 3,500 shares of the stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $62.93, for a total value of $220,255.00. Following the completion of the transaction, the executive vice president directly owned 153,902 shares in the company, valued at approximately $9,685,052.86. This trade represents a 2.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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, October 20th, Fady Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $64.01, for a total value of $224,035.00.
• On Tuesday, October 6th, Fady Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $61.38, for a total value of $214,830.00.
• 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 stock was 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 stock was sold at an average price of $75.82, for a total value of $265,370.00.

Cytokinetics Trading Down 12.7%

Shares of Cytokinetics stock opened at $55.55 on Friday. The firm has a market cap of $6.91 billion, a P/E ratio of -9.20 and a beta of 0.45. Cytokinetics, Incorporated has a 12 month low of $54.16 and a 12 month high of $88.31. The stock’s fifty day moving average price is $66.16 and its 200-day moving average price is $70.02.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Wednesday, November 4th. The biopharmaceutical company reported ($1.37) earnings per share for the quarter, beating the consensus estimate of ($1.43) by $0.06. The firm had revenue of $47.56 million during the quarter, compared to the consensus estimate of $41.88 million. During the same quarter in the previous year, the firm earned ($2.55) earnings per share. The business’s revenue was up 2356.5% compared to the same quarter last year. Analysts forecast that Cytokinetics, Incorporated will post -5.97 earnings per share for the current year.

Analysts Set New Price Targets

CYTK has been the subject of several research reports. Citigroup upped their price target on shares of Cytokinetics from $99.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings reissued a “sell (d-)” rating on shares of Cytokinetics in a report on Thursday, October 15th. Barclays lifted their price objective on shares of Cytokinetics from $95.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Leerink Partners reduced their price objective on shares of Cytokinetics from $103.00 to $100.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a report on Friday, September 11th. Nineteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $106.67.

Key Headlines Impacting Cytokinetics

Here are the key news stories impacting Cytokinetics this week:

• Positive Sentiment: Q3 results exceeded estimates: Cytokinetics reported a loss of $1.37 per share, narrower than the $1.43 consensus loss, and revenue of $47.56 million versus estimates of $41.88 million. Revenue rose sharply year over year, while the per-share loss also narrowed. Cytokinetics Q3 Loss Narrows, Revenue Rises
• Positive Sentiment: MYQORZO could drive a later growth step: RBC Capital Markets said the drug could begin to meaningfully lift revenue starting in 2027, making adoption and the pace of commercialization important factors for investors. RBC on MYQORZO revenue potential
• Positive Sentiment: Analyst targets remain well above the share price: Citi raised its target to $105 and maintained a Buy rating. Leerink lowered its target slightly to $100 but kept an Outperform rating. Citi rating information Leerink rating information
• Neutral Sentiment: Insider sale was under a pre-arranged plan: EVP Fady Malik sold 3,500 shares, a relatively small reduction in his holdings; the transaction was made under a Rule 10b5-1 plan. Insider transaction report
• Negative Sentiment: The market response was weak despite the earnings beat. The contrast suggests investors may be focused on execution and the timing of future growth, though the reports do not establish the reason for the decline.

Hedge Funds Weigh In On Cytokinetics

A number of large investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC acquired a new stake in Cytokinetics in the second quarter worth about $36,000. Physician Wealth Advisors Inc. increased its holdings in shares of Cytokinetics by 810.2% during the third quarter. Physician Wealth Advisors Inc. now owns 446 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 397 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Cytokinetics by 71.5% during the third quarter. V Square Quantitative Management LLC now owns 458 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 191 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Cytokinetics by 842.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 641 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 573 shares in the last quarter. Finally, Manchester Capital Management LLC purchased a new position in shares of Cytokinetics in the 3rd quarter valued at approximately $43,000.

Cytokinetics Company Profile

Cytokinetics, Incorporated is a biopharmaceutical company focused on discovering and developing medicines that target muscle function and contractility. The company applies muscle biology and sarcomere science to develop potential treatments for cardiovascular and neuromuscular diseases, including conditions in which impaired muscle performance contributes to disease progression.

Its leading investigational program is aficamten, a selective cardiac myosin inhibitor being developed for hypertrophic cardiomyopathy and other potential cardiovascular indications.