Fady Ibraham Malik Sells 32,605 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTKGet Free Report) EVP Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $79.30, for a total value of $2,585,576.50. Following the completion of the sale, the executive vice president now directly owns 142,973 shares in the company, valued at $11,337,758.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Thursday, January 4th, Fady Ibraham Malik sold 15,678 shares of Cytokinetics stock. The stock was sold at an average price of $86.98, for a total value of $1,363,672.44.
  • On Thursday, November 9th, Fady Ibraham Malik sold 2,500 shares of Cytokinetics stock. The stock was sold at an average price of $35.40, for a total value of $88,500.00.

Cytokinetics Stock Performance

Shares of NASDAQ CYTK opened at $77.12 on Thursday. The firm has a market capitalization of $7.56 billion, a price-to-earnings ratio of -13.97 and a beta of 0.73. The stock has a 50 day moving average price of $66.86 and a 200 day moving average price of $44.77. Cytokinetics, Incorporated has a 52-week low of $25.98 and a 52-week high of $110.25.

Wall Street Analysts Forecast Growth

CYTK has been the topic of several research reports. Mizuho lifted their target price on Cytokinetics from $80.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. UBS Group cut Cytokinetics from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $61.00 to $92.00 in a research note on Wednesday, January 24th. Morgan Stanley reissued an “equal weight” rating and set a $90.00 price objective (up from $60.00) on shares of Cytokinetics in a research note on Friday, January 5th. Truist Financial boosted their price objective on Cytokinetics from $60.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, December 28th. Finally, StockNews.com cut Cytokinetics from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $73.94.

Read Our Latest Analysis on CYTK

Institutional Trading of Cytokinetics

A number of large investors have recently modified their holdings of CYTK. Belpointe Asset Management LLC boosted its holdings in shares of Cytokinetics by 76.2% in the first quarter. Belpointe Asset Management LLC now owns 786 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 340 shares during the period. West Tower Group LLC purchased a new stake in shares of Cytokinetics in the second quarter valued at approximately $62,000. China Universal Asset Management Co. Ltd. lifted its holdings in Cytokinetics by 96.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,463 shares of the biopharmaceutical company’s stock worth $73,000 after buying an additional 1,209 shares during the period. Natixis purchased a new stake in Cytokinetics during the fourth quarter worth $73,000. Finally, GAMMA Investing LLC purchased a new stake in Cytokinetics during the fourth quarter worth $80,000.

About Cytokinetics

(Get Free Report)

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.

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