Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik Sells 7,384 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 7,384 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $57.01, for a total value of $420,961.84. Following the completion of the sale, the executive vice president now owns 122,920 shares of the company’s stock, valued at approximately $7,007,669.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, August 6th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The shares were sold at an average price of $53.71, for a total transaction of $392,083.00.
• On Tuesday, July 23rd, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was 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 shares were 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 shares were sold at an average price of $53.04, for a total value of $413,075.52.

Cytokinetics Price Performance

Shares of NASDAQ CYTK opened at $55.93 on Friday. The company has a current ratio of 10.39, a quick ratio of 10.39 and a debt-to-equity ratio of 5.93. The company’s 50-day moving average price is $56.23 and its 200 day moving average price is $60.85. Cytokinetics, Incorporated has a 52 week low of $25.98 and a 52 week high of $110.25. The stock has a market cap of $5.86 billion, a price-to-earnings ratio of -10.36 and a beta of 0.77.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The firm had revenue of $0.25 million for the quarter, compared to analyst estimates of $7.61 million. During the same quarter in the previous year, the company earned ($1.34) EPS. Cytokinetics’s revenue was down 71.3% on a year-over-year basis. As a group, research analysts forecast that Cytokinetics, Incorporated will post -5.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CYTK has been the topic of a number of recent research reports. JMP Securities reissued a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a report on Wednesday. Barclays cut their price objective on shares of Cytokinetics from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. JPMorgan Chase & Co. lifted their target price on shares of Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday. Bank of America cut their price target on shares of Cytokinetics from $70.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, May 23rd. Finally, B. Riley lowered their price objective on Cytokinetics from $122.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, June 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $80.67.

Institutional Trading of Cytokinetics

A number of large investors have recently made changes to their positions in CYTK. New York State Common Retirement Fund boosted its stake in shares of Cytokinetics by 13.2% during the 4th quarter. New York State Common Retirement Fund now owns 51,501 shares of the biopharmaceutical company’s stock worth $4,300,000 after purchasing an additional 6,015 shares during the last quarter. Victory Capital Management Inc. grew its stake in Cytokinetics by 1,040.4% in the 4th quarter. Victory Capital Management Inc. now owns 191,654 shares of the biopharmaceutical company’s stock worth $16,001,000 after acquiring an additional 174,848 shares during the period. First Trust Direct Indexing L.P. acquired a new position in Cytokinetics in the 4th quarter valued at $333,000. Natixis Advisors L.P. lifted its stake in shares of Cytokinetics by 43.6% during the 4th quarter. Natixis Advisors L.P. now owns 62,962 shares of the biopharmaceutical company’s stock worth $5,256,000 after purchasing an additional 19,124 shares during the period. Finally, Maryland State Retirement & Pension System boosted its holdings in shares of Cytokinetics by 0.8% during the fourth quarter. Maryland State Retirement & Pension System now owns 35,637 shares of the biopharmaceutical company’s stock worth $2,975,000 after purchasing an additional 278 shares during the last quarter.

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.