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

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 2,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $66.45, for a total transaction of $146,190.00. Following the transaction, the executive vice president owned 140,610 shares in the company, valued at $9,343,534.50. The trade was a 1.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• 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 transaction of $136,667.25.
• On Tuesday, October 21st, Fady Ibraham Malik sold 2,105 shares of Cytokinetics stock. The shares were 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 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 stock was sold at an average price of $49.28, for a total value of $98,560.00.
• On Tuesday, September 9th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were sold at an average price of $51.29, for a total value of $102,580.00.

Cytokinetics Trading Down 1.2%

Shares of CYTK stock traded down $0.79 during mid-day trading on Tuesday, reaching $66.16. The stock had a trading volume of 1,294,637 shares, compared to its average volume of 1,916,646. Cytokinetics, Incorporated has a 1-year low of $29.31 and a 1-year high of $67.98. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of -12.97 and a beta of 0.58. The business’s fifty day moving average is $57.34 and its 200-day moving average is $43.15.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) EPS for the quarter, topping analysts’ consensus estimates 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. The company’s revenue for the quarter was up 318.1% compared to the same quarter last year. During the same period last year, the firm earned ($1.36) EPS. On average, analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. UMB Bank n.a. boosted its stake in shares of Cytokinetics by 10.6% during the 3rd quarter. UMB Bank n.a. now owns 1,762 shares of the biopharmaceutical company’s stock worth $97,000 after acquiring an additional 169 shares in the last quarter. Fifth Third Bancorp raised its holdings in Cytokinetics by 32.3% in the 3rd quarter. Fifth Third Bancorp now owns 1,072 shares of the biopharmaceutical company’s stock worth $59,000 after purchasing an additional 262 shares during the period. Teacher Retirement System of Texas raised its holdings in Cytokinetics by 1.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 30,514 shares of the biopharmaceutical company’s stock worth $1,008,000 after purchasing an additional 341 shares during the period. KLP Kapitalforvaltning AS boosted its position in Cytokinetics by 1.7% during the second quarter. KLP Kapitalforvaltning AS now owns 24,000 shares of the biopharmaceutical company’s stock worth $793,000 after purchasing an additional 400 shares in the last quarter. Finally, New York State Teachers Retirement System grew its holdings in Cytokinetics by 0.4% in the second quarter. New York State Teachers Retirement System now owns 114,500 shares of the biopharmaceutical company’s stock valued at $3,783,000 after purchasing an additional 400 shares during the period.

Wall Street Analysts Forecast Growth

CYTK has been the topic of several recent research reports. Wall Street Zen downgraded shares of Cytokinetics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. B. Riley restated a “buy” rating and set a $90.00 target price (up from $80.00) on shares of Cytokinetics in a research report on Monday, November 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research report on Tuesday, October 21st. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research note on Tuesday, September 2nd. Finally, Citigroup boosted their price objective on Cytokinetics from $77.00 to $84.00 and gave the company a “buy” rating in a report 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.86.

About Cytokinetics

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.