Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells $370,880.16 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 6,342 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $58.48, for a total value of $370,880.16. Following the sale, the executive vice president now directly owns 113,878 shares of the company’s stock, valued at $6,659,585.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Wednesday, October 30th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The shares were 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 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 shares were sold at an average price of $57.01, for a total transaction of $420,961.84.

Cytokinetics Trading Down 0.4 %

Shares of NASDAQ CYTK traded down $0.23 during midday trading on Wednesday, hitting $55.96. The company’s stock had a trading volume of 883,798 shares, compared to its average volume of 2,066,844. Cytokinetics, Incorporated has a 12-month low of $30.68 and a 12-month high of $110.25. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The business’s 50 day moving average is $54.16 and its two-hundred day moving average is $55.38.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share 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 analyst estimates of $1.21 million. The company’s revenue was up 22.5% on a year-over-year basis. During the same period last year, the business posted ($1.35) EPS. Sell-side analysts expect that Cytokinetics, Incorporated will post -5.31 earnings per share for the current year.

Institutional Trading of Cytokinetics

Hedge funds have recently added to or reduced their stakes in the business. Entropy Technologies LP boosted its stake in shares of Cytokinetics by 110.6% during the first quarter. Entropy Technologies LP now owns 19,433 shares of the biopharmaceutical company’s stock valued at $1,362,000 after purchasing an additional 10,205 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Cytokinetics in the 1st quarter valued at $51,277,000. Van ECK Associates Corp raised its position in shares of Cytokinetics by 21.3% in the 3rd quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company’s stock worth $3,802,000 after acquiring an additional 12,565 shares in the last quarter. Ghisallo Capital Management LLC bought a new position in shares of Cytokinetics in the 2nd quarter worth $10,619,000. Finally, Castleark Management LLC purchased a new stake in shares of Cytokinetics during the 1st quarter worth $1,471,000.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CYTK. JPMorgan Chase & Co. raised their price target on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. JMP Securities reissued a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a report on Wednesday, September 4th. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. The Goldman Sachs Group cut shares of Cytokinetics from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $85.00 to $60.00 in a research report on Tuesday, August 13th. Finally, Royal Bank of Canada initiated coverage on shares of Cytokinetics in a research report on Friday, November 8th. They set an “outperform” rating and a $80.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $83.67.

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.