Cytokinetics (NASDAQ:CYTK) EVP Fady Ibraham Malik Sells 2,200 Shares

Cytokinetics, Incorporated (NASDAQ:CYTKGet Free Report) EVP Fady Ibraham Malik sold 2,200 shares of Cytokinetics stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $63.89, for a total value of $140,558.00. Following the transaction, the executive vice president directly owned 140,610 shares in the company, valued at $8,983,572.90. The trade was a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

  • On Tuesday, November 18th, Fady Ibraham Malik sold 2,200 shares of Cytokinetics stock. The shares were sold at an average price of $66.45, for a total value of $146,190.00.
  • On Tuesday, November 4th, Fady Ibraham Malik sold 2,295 shares of Cytokinetics stock. The stock was sold at an average price of $59.55, for a total value of $136,667.25.
  • 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 value of $122,553.10.
  • On Tuesday, October 7th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were sold at an average price of $60.56, for a total value of $121,120.00.
  • On Tuesday, September 23rd, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were 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.

Cytokinetics Stock Performance

Shares of NASDAQ:CYTK traded down $2.54 during trading on Tuesday, reaching $63.51. The stock had a trading volume of 2,145,288 shares, compared to its average volume of 1,909,717. The firm’s fifty day moving average is $60.62 and its 200 day moving average is $45.52. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $69.33. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of -12.45 and a beta of 0.58.

Cytokinetics (NASDAQ:CYTKGet Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, topping the consensus estimate of ($1.59) by $0.05. The firm had revenue of $1.94 million for the quarter, compared to analyst estimates of $6.05 million. During the same quarter last year, the company earned ($1.36) earnings per share. The company’s quarterly revenue was up 318.1% compared to the same quarter last year. On average, research analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

CYTK has been the subject of a number of recent analyst reports. Royal Bank Of Canada increased their price target on Cytokinetics from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. Stifel Nicolaus raised their target price on Cytokinetics from $87.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. Citigroup lifted their target price on Cytokinetics from $77.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, September 2nd. Barclays increased their price target on Cytokinetics from $71.00 to $82.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research note on Tuesday, September 2nd. Thirteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.29.

View Our Latest Research Report on CYTK

Hedge Funds Weigh In On Cytokinetics

A number of institutional investors have recently modified their holdings of the company. Swiss Life Asset Management Ltd acquired a new stake in Cytokinetics in the 3rd quarter valued at $283,000. CIBC Private Wealth Group LLC raised its holdings in Cytokinetics by 8.1% during the third quarter. CIBC Private Wealth Group LLC now owns 3,484 shares of the biopharmaceutical company’s stock worth $191,000 after buying an additional 261 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Cytokinetics in the third quarter valued at $684,000. Coldstream Capital Management Inc. acquired a new position in shares of Cytokinetics during the third quarter valued at about $261,000. Finally, Danske Bank A S acquired a new position in shares of Cytokinetics during the third quarter valued at about $71,000.

About Cytokinetics

(Get Free Report)

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.

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