Insider Selling: 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 on Tuesday, November 12th. The shares were sold at an average price of $58.48, for a total transaction of $370,880.16. Following the transaction, the executive vice president now owns 113,878 shares of the company’s stock, valued at $6,659,585.44. This trade represents a 5.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 transaction 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 shares were 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 value of $420,961.84.

Cytokinetics Trading Down 8.2 %

Shares of NASDAQ CYTK opened at $50.22 on Friday. The company has a market cap of $5.93 billion, a PE ratio of -9.33 and a beta of 0.78. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The firm’s 50 day moving average price is $54.08 and its 200-day moving average price is $55.30. Cytokinetics, Incorporated has a 52-week low of $30.68 and a 52-week high of $110.25.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The business 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 quarter last year, the company posted ($1.35) EPS. On average, equities research analysts expect that Cytokinetics, Incorporated will post -5.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CYTK has been the subject of several recent research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. JMP Securities restated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research report on Wednesday, September 4th. HC Wainwright reissued a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a research note on Thursday, November 7th. Royal Bank of Canada began coverage on Cytokinetics in a research report on Friday, November 8th. They set an “outperform” rating and a $80.00 price target for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.67.

Institutional Investors Weigh In On Cytokinetics

Large investors have recently bought and sold shares of the business. XTX Topco Ltd bought a new position in Cytokinetics during the 3rd quarter valued at about $521,000. Two Sigma Advisers LP purchased a new stake in Cytokinetics during the 3rd quarter valued at $11,336,000. Stifel Financial Corp lifted its holdings in shares of Cytokinetics by 8.5% during the 3rd quarter. Stifel Financial Corp now owns 25,067 shares of the biopharmaceutical company’s stock valued at $1,324,000 after buying an additional 1,959 shares during the period. Quarry LP boosted its stake in shares of Cytokinetics by 50.0% in the 3rd quarter. Quarry LP now owns 3,000 shares of the biopharmaceutical company’s stock worth $158,000 after buying an additional 1,000 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Cytokinetics by 17.2% in the third quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock worth $60,399,000 after acquiring an additional 167,501 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.