Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik Sells 7,300 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 7,300 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $53.72, for a total transaction of $392,156.00. Following the completion of the sale, the executive vice president now owns 133,004 shares in the company, valued at approximately $7,144,974.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Tuesday, June 11th, Fady Ibraham Malik sold 7,788 shares of Cytokinetics stock. The stock was sold at an average price of $53.04, for a total transaction of $413,075.52.
• On Tuesday, May 7th, Fady Ibraham Malik sold 15,547 shares of Cytokinetics stock. The stock was sold at an average price of $65.11, for a total transaction of $1,012,265.17.
• On Tuesday, April 9th, Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock. The stock was sold at an average price of $74.31, for a total transaction of $2,422,877.55.

Cytokinetics Trading Down 1.9 %

Shares of NASDAQ:CYTK opened at $52.87 on Wednesday. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of -9.79 and a beta of 0.75. Cytokinetics, Incorporated has a 12 month low of $25.98 and a 12 month high of $110.25. The firm’s 50-day moving average is $57.62 and its 200 day moving average is $66.88.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.17). The business had revenue of $0.84 million for the quarter, compared to the consensus estimate of $0.91 million. Cytokinetics’s revenue for the quarter was down 81.8% compared to the same quarter last year. During the same period last year, the business posted ($1.38) earnings per share. As a group, equities analysts forecast that Cytokinetics, Incorporated will post -4.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Cytokinetics

Several large investors have recently added to or reduced their stakes in CYTK. Fifth Third Bancorp lifted its position in shares of Cytokinetics by 94.1% in the 1st quarter. Fifth Third Bancorp now owns 656 shares of the biopharmaceutical company’s stock worth $46,000 after purchasing an additional 318 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of Cytokinetics in the 1st quarter worth approximately $74,000. GAMMA Investing LLC purchased a new stake in shares of Cytokinetics in the 4th quarter worth approximately $80,000. Bessemer Group Inc. lifted its position in shares of Cytokinetics by 25,100.0% in the 1st quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 1,255 shares during the period. Finally, Sage Rhino Capital LLC purchased a new stake in shares of Cytokinetics in the 4th quarter worth approximately $204,000.

Analyst Ratings Changes

Several brokerages have commented on CYTK. HC Wainwright reiterated a “buy” rating and issued a $90.00 price target on shares of Cytokinetics in a research note on Monday, June 17th. Needham & Company LLC reduced their target price on shares of Cytokinetics from $108.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. JPMorgan Chase & Co. reduced their target price on shares of Cytokinetics from $77.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday. JMP Securities reduced their target price on shares of Cytokinetics from $106.00 to $78.00 and set a “market outperform” rating on the stock in a report on Tuesday, May 28th. Finally, Oppenheimer reduced their target price on shares of Cytokinetics from $107.00 to $106.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.06.

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.