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

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $51.91, for a total transaction of $378,943.00. Following the sale, the executive vice president now directly owns 114,920 shares in the company, valued at $5,965,497.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, October 15th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $54.19, for a total transaction of $395,587.00.
• On Tuesday, October 1st, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $52.10, for a total transaction of $380,330.00.
• On Tuesday, September 3rd, Fady Ibraham Malik sold 7,384 shares of Cytokinetics stock. The stock was sold at an average price of $57.01, for a total transaction of $420,961.84.
• On Tuesday, August 6th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $53.71, for a total transaction of $392,083.00.

Cytokinetics Price Performance

Shares of Cytokinetics stock traded down $0.31 on Thursday, reaching $51.00. The stock had a trading volume of 989,437 shares, compared to its average volume of 2,094,364. Cytokinetics, Incorporated has a 1 year low of $30.68 and a 1 year high of $110.25. The company has a market cap of $6.00 billion, a P/E ratio of -9.50 and a beta of 0.77. 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 business’s 50 day moving average is $54.50 and its two-hundred day moving average is $56.23.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.25). The firm had revenue of $0.25 million for the quarter, compared to analysts’ expectations of $7.61 million. During the same quarter last year, the firm posted ($1.34) earnings per share. The company’s quarterly revenue was down 71.3% on a year-over-year basis. As a group, research analysts anticipate that Cytokinetics, Incorporated will post -5.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CYTK. The Goldman Sachs Group lowered shares of Cytokinetics from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $85.00 to $60.00 in a report on Tuesday, August 13th. JMP Securities restated a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research report on Wednesday, September 4th. JPMorgan Chase & Co. boosted their price target on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Needham & Company LLC restated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $83.93.

Institutional Investors Weigh In On Cytokinetics

Institutional investors and hedge funds have recently modified their holdings of the company. J.Safra Asset Management Corp raised its stake in Cytokinetics by 642.3% in the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 456 shares in the last quarter. UMB Bank n.a. raised its stake in Cytokinetics by 65.6% in the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 238 shares in the last quarter. Blue Trust Inc. raised its stake in Cytokinetics by 225.9% in the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 680 shares in the last quarter. Values First Advisors Inc. purchased a new stake in Cytokinetics in the third quarter valued at approximately $54,000. Finally, EntryPoint Capital LLC purchased a new stake in Cytokinetics in the first quarter valued at approximately $74,000.

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.