Insider Selling: Cytokinetics (NASDAQ:CYTK) EVP Sells 2,295 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 2,295 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $59.55, for a total transaction of $136,667.25. Following the completion of the sale, the executive vice president owned 140,610 shares in the company, valued at approximately $8,373,325.50. The trade was a 1.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Tuesday, October 21st, Fady Ibraham Malik sold 2,105 shares of Cytokinetics stock. The stock was sold at an average price of $58.22, for a total transaction of $122,553.10.
• On Tuesday, October 7th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The stock was sold at an average price of $60.56, for a total transaction of $121,120.00.
• On Tuesday, September 23rd, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The stock was sold at an average price of $49.28, for a total transaction of $98,560.00.
• On Tuesday, September 9th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The stock was sold at an average price of $51.29, for a total transaction of $102,580.00.
• On Tuesday, August 19th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The stock was sold at an average price of $38.31, for a total transaction of $76,620.00.

Cytokinetics Stock Down 0.7%

CYTK traded down $0.41 during trading on Tuesday, reaching $59.62. 979,016 shares of the company’s stock were exchanged, compared to its average volume of 1,911,553. Cytokinetics, Incorporated has a fifty-two week low of $29.31 and a fifty-two week high of $64.13. The business has a 50 day moving average price of $53.45 and a 200 day moving average price of $41.52. The company has a market capitalization of $7.13 billion, a P/E ratio of -11.69 and a beta of 0.67.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.34) by $0.22. The company had revenue of $66.77 million for the quarter, compared to the consensus estimate of $1.95 million. The firm’s revenue was up 26727.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.31) earnings per share. As a group, research analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Hedge Funds Weigh In On Cytokinetics

Institutional investors have recently modified their holdings of the stock. Allianz Asset Management GmbH acquired a new position in shares of Cytokinetics in the 3rd quarter valued at approximately $250,000. Jones Financial Companies Lllp grew its position in shares of Cytokinetics by 120.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,858 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 1,017 shares during the period. UMB Bank n.a. grew its position in shares of Cytokinetics by 10.6% in the 3rd quarter. UMB Bank n.a. now owns 1,762 shares of the biopharmaceutical company’s stock valued at $97,000 after purchasing an additional 169 shares during the period. Lisanti Capital Growth LLC acquired a new position in shares of Cytokinetics in the 3rd quarter valued at approximately $2,697,000. Finally, Arizona State Retirement System grew its position in shares of Cytokinetics by 1.6% in the 3rd quarter. Arizona State Retirement System now owns 33,546 shares of the biopharmaceutical company’s stock valued at $1,844,000 after purchasing an additional 527 shares during the period.

Analyst Upgrades and Downgrades

CYTK has been the subject of a number of analyst reports. B. Riley lifted their price objective on Cytokinetics from $74.00 to $80.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a report on Tuesday, September 2nd. Evercore ISI lifted their price target on Cytokinetics from $60.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, September 3rd. Citigroup lifted their price target on Cytokinetics from $77.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Finally, Barclays lifted their price target on Cytokinetics from $71.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, October 6th. Thirteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $76.64.

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.