Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik Sells 2,000 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 2,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $49.32, for a total transaction of $98,640.00. Following the sale, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at $5,724,621.72. The trade was a 1.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, December 10th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The shares were sold at an average price of $50.64, for a total transaction of $369,672.00.
• On Tuesday, November 26th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $50.16, for a total transaction of $366,168.00.
• On Tuesday, November 12th, Fady Ibraham Malik sold 6,342 shares of Cytokinetics stock. The shares were sold at an average price of $58.48, for a total transaction of $370,880.16.
• On Wednesday, October 30th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The shares were sold at an average price of $51.91, for a total value of $378,943.00.
• On Tuesday, October 15th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $54.19, for a total value of $395,587.00.

Cytokinetics Price Performance

NASDAQ CYTK traded down $0.75 during trading on Friday, hitting $46.62. 1,738,815 shares of the stock traded hands, compared to its average volume of 1,032,659. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 12-month low of $45.17 and a 12-month high of $100.49. The firm has a 50-day simple moving average of $50.53 and a 200-day simple moving average of $53.52. The company has a market capitalization of $5.50 billion, a P/E ratio of -8.67 and a beta of 0.82.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The company had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $1.21 million. During the same period in the previous year, the business posted ($1.35) earnings per share. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. As a group, analysts predict that Cytokinetics, Incorporated will post -5.25 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CYTK. Royal Bank of Canada lifted their price objective on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. HC Wainwright reiterated a “buy” rating on shares of Cytokinetics in a research report on Friday. Needham & Company LLC restated a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Monday, December 2nd. Mizuho upped their target price on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $83.64.

Hedge Funds Weigh In On Cytokinetics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. lifted its holdings in shares of Cytokinetics by 10.2% in the 2nd quarter. Victory Capital Management Inc. now owns 37,039 shares of the biopharmaceutical company’s stock valued at $2,007,000 after acquiring an additional 3,436 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Cytokinetics by 14.7% in the 2nd quarter. Arizona State Retirement System now owns 27,812 shares of the biopharmaceutical company’s stock worth $1,507,000 after purchasing an additional 3,559 shares during the period. Quest Partners LLC bought a new position in shares of Cytokinetics during the 2nd quarter valued at approximately $398,000. Thornburg Investment Management Inc. raised its holdings in Cytokinetics by 201.8% during the 2nd quarter. Thornburg Investment Management Inc. now owns 252,811 shares of the biopharmaceutical company’s stock valued at $13,697,000 after buying an additional 169,050 shares during the period. Finally, Federated Hermes Inc. lifted its position in Cytokinetics by 204.6% in the second quarter. Federated Hermes Inc. now owns 26,098 shares of the biopharmaceutical company’s stock worth $1,414,000 after buying an additional 17,530 shares during the last quarter.

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.