Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells $392,083.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $53.71, for a total transaction of $392,083.00. Following the transaction, the executive vice president now directly owns 121,704 shares of the company’s stock, valued at $6,536,721.84. The transaction 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, July 23rd, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The shares were sold at an average price of $57.02, for a total transaction of $416,246.00.
• On Tuesday, July 9th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $55.90, for a total transaction of $408,070.00.
• On Tuesday, June 25th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $53.72, for a total value of $392,156.00.
• 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 value of $413,075.52.

Cytokinetics Price Performance

CYTK stock traded down $2.32 during mid-day trading on Wednesday, reaching $51.22. The company had a trading volume of 1,474,596 shares, compared to its average volume of 2,464,935. The company has a market capitalization of $5.37 billion, a PE ratio of -9.49 and a beta of 0.75. The firm has a 50 day moving average of $54.59 and a 200 day moving average of $64.19. Cytokinetics, Incorporated has a 12 month low of $25.98 and a 12 month high of $110.25.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.17). The business had revenue of $0.84 million for the quarter, compared to analyst estimates of $0.91 million. The company’s quarterly revenue was down 81.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.38) EPS. Analysts anticipate that Cytokinetics, Incorporated will post -4.5 EPS for the current year.

Hedge Funds Weigh In On Cytokinetics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CYTK. J.Safra Asset Management Corp increased its position in shares of Cytokinetics by 642.3% during the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 456 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Cytokinetics by 94.1% in the first quarter. Fifth Third Bancorp now owns 656 shares of the biopharmaceutical company’s stock valued at $46,000 after purchasing an additional 318 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Cytokinetics in the fourth quarter valued at approximately $80,000. EntryPoint Capital LLC acquired a new position in shares of Cytokinetics in the first quarter valued at approximately $74,000. Finally, Bessemer Group Inc. lifted its stake in Cytokinetics by 25,100.0% in the first quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock worth $88,000 after acquiring an additional 1,255 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CYTK. Truist Financial lowered their price target on Cytokinetics from $86.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. JPMorgan Chase & Co. lowered their target price on Cytokinetics from $77.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. Needham & Company LLC cut their target price on Cytokinetics from $108.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Barclays dropped their target price on Cytokinetics from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. Finally, HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Cytokinetics in a research note on Monday, June 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.