Cytokinetics (NASDAQ:CYTK) EVP Fady Ibraham Malik Sells 3,500 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $80.59, for a total value of $282,065.00. Following the completion of the sale, the executive vice president directly owned 153,902 shares of the company’s stock, valued at $12,402,962.18. This represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, July 7th, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $86.62, for a total value of $303,170.00.
• On Tuesday, June 23rd, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $79.51, for a total transaction of $278,285.00.
• On Tuesday, June 9th, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $67.98, for a total transaction of $237,930.00.
• On Tuesday, May 5th, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $77.37, for a total value of $270,795.00.

Cytokinetics Stock Performance

Cytokinetics stock traded down $0.49 during trading on Tuesday, reaching $80.13. The company had a trading volume of 532,307 shares, compared to its average volume of 2,171,270. Cytokinetics, Incorporated has a 12-month low of $32.89 and a 12-month high of $88.31. The stock’s 50 day moving average price is $78.64 and its two-hundred day moving average price is $70.01. The firm has a market capitalization of $9.97 billion, a price-to-earnings ratio of -11.73 and a beta of 0.42.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) EPS for the quarter, hitting analysts’ consensus estimates of ($1.67). The company had revenue of $19.36 million for the quarter, compared to the consensus estimate of $8.52 million. During the same quarter in the previous year, the company earned ($1.36) earnings per share. Cytokinetics’s quarterly revenue was up 1112.5% compared to the same quarter last year. As a group, research analysts expect that Cytokinetics, Incorporated will post -6.2 earnings per share for the current year.

Institutional Trading of Cytokinetics

Large investors have recently added to or reduced their stakes in the business. Bank of Montreal Can lifted its stake in shares of Cytokinetics by 1.2% in the 4th quarter. Bank of Montreal Can now owns 13,292 shares of the biopharmaceutical company’s stock valued at $845,000 after purchasing an additional 160 shares during the last quarter. Kennedy Capital Management LLC lifted its position in shares of Cytokinetics by 1.2% in the fourth quarter. Kennedy Capital Management LLC now owns 13,183 shares of the biopharmaceutical company’s stock worth $838,000 after buying an additional 162 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Cytokinetics by 46.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company’s stock valued at $35,000 after acquiring an additional 171 shares during the last quarter. Vident Advisory LLC raised its stake in shares of Cytokinetics by 1.4% in the 4th quarter. Vident Advisory LLC now owns 16,455 shares of the biopharmaceutical company’s stock valued at $1,046,000 after acquiring an additional 234 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in shares of Cytokinetics by 6.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,723 shares of the biopharmaceutical company’s stock valued at $237,000 after acquiring an additional 239 shares in the last quarter.

Analysts Set New Price Targets

Several research firms have recently weighed in on CYTK. Morgan Stanley raised their price objective on Cytokinetics from $90.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytokinetics in a research note on Friday, July 17th. JPMorgan Chase & Co. lifted their target price on shares of Cytokinetics from $92.00 to $97.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Royal Bank Of Canada lowered their price target on shares of Cytokinetics from $119.00 to $117.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Finally, Citigroup began coverage on Cytokinetics in a report on Monday, May 18th. They set a “buy” rating and a $99.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.90.

About Cytokinetics

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.