Fady Ibraham Malik Sells 2,000 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 2,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $45.92, for a total value of $91,840.00. Following the completion of the sale, the executive vice president now owns 116,071 shares in the company, valued at approximately $5,329,980.32. This trade represents a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, January 7th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were sold at an average price of $49.32, for a total value of $98,640.00.
• On Tuesday, December 10th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $50.64, for a total transaction of $369,672.00.
• 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 shares were 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 transaction of $378,943.00.

Cytokinetics Stock Performance

NASDAQ:CYTK opened at $46.82 on Thursday. The stock has a 50 day simple moving average of $48.94 and a 200 day simple moving average of $53.03. The stock has a market cap of $5.53 billion, a P/E ratio of -8.70 and a beta of 0.82. Cytokinetics, Incorporated has a 1-year low of $44.49 and a 1-year high of $84.92. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates 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. During the same period in the prior year, the company earned ($1.35) earnings per share. The business’s quarterly revenue was up 22.5% on a year-over-year basis. Research analysts anticipate that Cytokinetics, Incorporated will post -5.23 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on CYTK shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. Mizuho boosted their price target on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. JMP Securities reissued a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Tuesday, January 14th. Stifel Nicolaus initiated coverage on shares of Cytokinetics in a report on Wednesday. They set a “buy” rating and a $80.00 target price on the stock. Finally, Royal Bank of Canada increased their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CYTK. Dimensional Fund Advisors LP raised its position in shares of Cytokinetics by 27.9% in the second quarter. Dimensional Fund Advisors LP now owns 148,561 shares of the biopharmaceutical company’s stock valued at $8,049,000 after buying an additional 32,372 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in Cytokinetics by 12.3% in the 2nd quarter. Mutual of America Capital Management LLC now owns 65,645 shares of the biopharmaceutical company’s stock valued at $3,557,000 after acquiring an additional 7,208 shares in the last quarter. Amalgamated Bank lifted its position in shares of Cytokinetics by 8.0% during the 2nd quarter. Amalgamated Bank now owns 55,397 shares of the biopharmaceutical company’s stock valued at $3,001,000 after acquiring an additional 4,099 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Cytokinetics by 21.2% during the 2nd quarter. Pacer Advisors Inc. now owns 18,720 shares of the biopharmaceutical company’s stock worth $1,014,000 after purchasing an additional 3,271 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of Cytokinetics by 8.1% in the second quarter. Sei Investments Co. now owns 63,009 shares of the biopharmaceutical company’s stock worth $3,414,000 after purchasing an additional 4,695 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.