Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells $74,940.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $37.47, for a total transaction of $74,940.00. Following the completion of the sale, the executive vice president directly owned 140,610 shares in the company, valued at approximately $5,268,656.70. This represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Tuesday, July 8th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were sold at an average price of $33.76, for a total transaction of $67,520.00.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK opened at $37.18 on Friday. The stock has a market cap of $4.44 billion, a P/E ratio of -7.03 and a beta of 0.59. The firm has a fifty day moving average price of $33.86 and a 200 day moving average price of $39.48. Cytokinetics, Incorporated has a 1-year low of $29.31 and a 1-year high of $61.38.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.41) by $0.05. The business had revenue of $1.60 million for the quarter, compared to analyst estimates of $2.77 million. The firm’s revenue for the quarter was up 89.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.33) EPS. Sell-side analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Institutional Trading of Cytokinetics

Several hedge funds have recently made changes to their positions in CYTK. Raymond James Financial Inc. acquired a new stake in shares of Cytokinetics in the 4th quarter worth $254,000. Xponance Inc. lifted its stake in shares of Cytokinetics by 5.4% in the 4th quarter. Xponance Inc. now owns 16,528 shares of the biopharmaceutical company’s stock worth $777,000 after acquiring an additional 853 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of Cytokinetics by 19.7% in the 4th quarter. Teacher Retirement System of Texas now owns 33,106 shares of the biopharmaceutical company’s stock worth $1,557,000 after acquiring an additional 5,437 shares during the period. Virtu Financial LLC acquired a new stake in shares of Cytokinetics in the 4th quarter worth $303,000. Finally, American Century Companies Inc. lifted its stake in shares of Cytokinetics by 8.4% in the 4th quarter. American Century Companies Inc. now owns 356,576 shares of the biopharmaceutical company’s stock worth $16,773,000 after acquiring an additional 27,619 shares during the period.

Wall Street Analyst Weigh In

CYTK has been the topic of a number of recent analyst reports. Cantor Fitzgerald raised shares of Cytokinetics to a “strong-buy” rating in a research report on Tuesday, May 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research report on Thursday, April 10th. JPMorgan Chase & Co. dropped their target price on shares of Cytokinetics from $71.00 to $53.00 and set an “overweight” rating on the stock in a research report on Monday, June 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research report on Wednesday, May 14th. Finally, Royal Bank Of Canada dropped their target price on shares of Cytokinetics from $82.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.92.

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.