Cytokinetics (NASDAQ:CYTK) EVP Sells $134,728.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 2,200 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $61.24, for a total transaction of $134,728.00. Following the transaction, the executive vice president owned 138,552 shares in the company, valued at approximately $8,484,924.48. This trade represents a 1.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, December 2nd, Fady Ibraham Malik sold 2,200 shares of Cytokinetics stock. The stock was sold at an average price of $63.89, for a total transaction of $140,558.00.
• On Tuesday, November 18th, Fady Ibraham Malik sold 2,200 shares of Cytokinetics stock. The shares were sold at an average price of $66.45, for a total value of $146,190.00.
• On Tuesday, November 4th, Fady Ibraham Malik sold 2,295 shares of Cytokinetics stock. The stock was sold at an average price of $59.55, for a total value of $136,667.25.
• On Tuesday, October 21st, Fady Ibraham Malik sold 2,105 shares of Cytokinetics stock. The shares were sold at an average price of $58.22, for a total transaction of $122,553.10.
• On Tuesday, October 7th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were sold at an average price of $60.56, for a total transaction of $121,120.00.
• On Tuesday, September 23rd, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The stock was sold at an average price of $49.28, for a total value of $98,560.00.

Cytokinetics Trading Down 0.2%

CYTK stock traded down $0.14 during trading hours on Tuesday, hitting $62.02. 1,524,411 shares of the stock were exchanged, compared to its average volume of 1,902,219. The company has a 50-day simple moving average of $62.60 and a two-hundred day simple moving average of $47.80. Cytokinetics, Incorporated has a 12 month low of $29.31 and a 12 month high of $69.33. The firm has a market capitalization of $7.58 billion, a P/E ratio of -9.86 and a beta of 0.58.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.59) by $0.05. The company had revenue of $1.94 million for the quarter, compared to analyst estimates of $6.05 million. The firm’s quarterly revenue was up 318.1% on a year-over-year basis. During the same quarter last year, the company posted ($1.36) earnings per share. On average, equities research analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Institutional Trading of Cytokinetics

Institutional investors and hedge funds have recently made changes to their positions in the company. UMB Bank n.a. boosted its stake in shares of Cytokinetics by 10.6% in the 3rd quarter. UMB Bank n.a. now owns 1,762 shares of the biopharmaceutical company’s stock worth $97,000 after buying an additional 169 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in Cytokinetics by 8.1% in the third quarter. CIBC Private Wealth Group LLC now owns 3,484 shares of the biopharmaceutical company’s stock valued at $191,000 after purchasing an additional 261 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Cytokinetics by 32.3% during the 3rd quarter. Fifth Third Bancorp now owns 1,072 shares of the biopharmaceutical company’s stock valued at $59,000 after buying an additional 262 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in Cytokinetics by 1.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 30,514 shares of the biopharmaceutical company’s stock worth $1,008,000 after acquiring an additional 341 shares during the last quarter. Finally, KLP Kapitalforvaltning AS increased its holdings in Cytokinetics by 1.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 24,000 shares of the biopharmaceutical company’s stock worth $793,000 after acquiring an additional 400 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have commented on CYTK. Barclays upped their price target on Cytokinetics from $71.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, October 6th. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cytokinetics in a report on Wednesday, October 8th. Bank of America boosted their target price on Cytokinetics from $52.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, October 2nd. Finally, Royal Bank Of Canada raised their price target on Cytokinetics from $82.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, November 11th. Thirteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $79.29.

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.