Fady Ibraham Malik Sells 7,300 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 7,300 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $50.16, for a total value of $366,168.00. Following the sale, the executive vice president now owns 111,878 shares in the company, valued at approximately $5,611,800.48. The trade was a 6.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• 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 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 stock was 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 stock was sold at an average price of $52.10, for a total value 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 Stock Up 0.4 %

Shares of Cytokinetics stock opened at $52.22 on Thursday. The company’s 50 day moving average price is $53.39 and its 200-day moving average price is $54.50. Cytokinetics, Incorporated has a 52-week low of $30.68 and a 52-week high of $110.25. 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 stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of -9.71 and a beta of 0.78.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The business had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $1.21 million. The company’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter last year, the firm earned ($1.35) EPS. Equities research analysts forecast that Cytokinetics, Incorporated will post -5.25 EPS for the current year.

Wall Street Analyst Weigh In

CYTK has been the topic of a number of recent analyst reports. The Goldman Sachs Group downgraded shares of Cytokinetics from a “buy” rating to a “neutral” rating and lowered their target price for the company from $85.00 to $60.00 in a research note on Tuesday, August 13th. Mizuho lifted their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Needham & Company LLC reissued a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research note on Wednesday, November 20th. JPMorgan Chase & Co. raised their price target on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp grew 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 buying an additional 12,565 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in Cytokinetics by 38.9% in the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock valued at $64,040,000 after acquiring an additional 339,373 shares in the last quarter. Ghisallo Capital Management LLC purchased a new position in Cytokinetics during the 2nd quarter valued at $10,619,000. Castleark Management LLC bought a new position in Cytokinetics in the 1st quarter worth $1,471,000. Finally, Darwin Global Management Ltd. purchased a new stake in shares of Cytokinetics in the 2nd quarter worth about $246,074,000.

About Cytokinetics

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.