Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells 7,300 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $50.64, for a total transaction of $369,672.00. Following the completion of the transaction, the executive vice president now directly owns 116,071 shares in the company, valued at $5,877,835.44. This represents a 5.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, November 26th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $50.16, for a total transaction of $366,168.00.
• On Tuesday, November 12th, Fady Ibraham Malik sold 6,342 shares of Cytokinetics stock. The stock was sold at an average price of $58.48, for a total transaction of $370,880.16.
• On Wednesday, October 30th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $51.91, for a total value of $378,943.00.
• On Tuesday, October 15th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The shares were sold at an average price of $54.19, for a total value 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 value of $380,330.00.

Cytokinetics Stock Performance

NASDAQ CYTK opened at $50.24 on Friday. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The company has a fifty day moving average price of $52.80 and a 200-day moving average price of $54.00. Cytokinetics, Incorporated has a 1 year low of $32.70 and a 1 year high of $110.25. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of -9.34 and a beta of 0.80.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The firm had revenue of $0.46 million during the quarter, compared to the consensus estimate of $1.21 million. The firm’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.35) earnings per share. As a group, equities research analysts predict that Cytokinetics, Incorporated will post -5.25 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CYTK shares. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a research note on Wednesday, September 4th. Mizuho lifted their price target on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. Royal Bank of Canada started coverage on Cytokinetics in a research report on Friday, November 8th. They issued an “outperform” rating and a $80.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research note on Monday, December 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Cytokinetics currently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Hedge Funds Weigh In On Cytokinetics

Several institutional investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System raised its stake in Cytokinetics by 0.6% in the 3rd quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the biopharmaceutical company’s stock valued at $1,721,000 after acquiring an additional 200 shares during the period. UMB Bank n.a. lifted its stake in shares of Cytokinetics by 65.6% during the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 238 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Cytokinetics by 2.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 15,062 shares of the biopharmaceutical company’s stock worth $795,000 after buying an additional 430 shares during the period. J.Safra Asset Management Corp grew its stake in Cytokinetics by 642.3% in the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 456 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in Cytokinetics by 0.4% during the 3rd quarter. MetLife Investment Management LLC now owns 123,308 shares of the biopharmaceutical company’s stock valued at $6,511,000 after acquiring an additional 538 shares during the period.

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.