Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik Sells 15,547 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 15,547 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $65.11, for a total transaction of $1,012,265.17. Following the sale, the executive vice president now owns 137,056 shares of the company’s stock, valued at $8,923,716.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, April 9th, Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock. The shares were sold at an average price of $74.31, for a total value of $2,422,877.55.
• On Tuesday, March 5th, Fady Ibraham Malik sold 32,604 shares of Cytokinetics stock. The stock was sold at an average price of $67.56, for a total value of $2,202,726.24.

Cytokinetics Trading Up 0.4 %

Shares of NASDAQ:CYTK opened at $65.28 on Wednesday. The stock has a fifty day simple moving average of $67.97 and a two-hundred day simple moving average of $61.64. Cytokinetics, Incorporated has a 12-month low of $25.98 and a 12-month high of $110.25. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of -11.98 and a beta of 0.72.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The firm had revenue of $1.70 million during the quarter, compared to analysts’ expectations of $7.62 million. During the same period in the previous year, the firm earned ($1.45) EPS. Cytokinetics’s quarterly revenue was down 10.5% on a year-over-year basis. As a group, equities research analysts predict that Cytokinetics, Incorporated will post -4.5 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. First Turn Management LLC bought a new stake in shares of Cytokinetics during the fourth quarter valued at approximately $67,414,000. Norges Bank bought a new stake in shares of Cytokinetics in the 4th quarter worth $60,299,000. Assenagon Asset Management S.A. purchased a new position in shares of Cytokinetics in the fourth quarter worth $46,308,000. Fisher Asset Management LLC bought a new position in shares of Cytokinetics during the fourth quarter valued at $44,754,000. Finally, Vanguard Group Inc. boosted its position in shares of Cytokinetics by 4.6% during the third quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company’s stock valued at $316,498,000 after buying an additional 472,595 shares during the last quarter.

Analyst Ratings Changes

CYTK has been the subject of a number of research analyst reports. UBS Group lowered Cytokinetics from a “buy” rating to a “neutral” rating and raised their price target for the stock from $61.00 to $92.00 in a research note on Wednesday, January 24th. HC Wainwright reiterated a “buy” rating and set a $94.00 price target on shares of Cytokinetics in a research report on Wednesday, February 28th. Needham & Company LLC restated a “buy” rating and issued a $108.00 price objective on shares of Cytokinetics in a report on Tuesday, April 9th. Oppenheimer reaffirmed an “outperform” rating and set a $107.00 price objective on shares of Cytokinetics in a research report on Monday, March 4th. Finally, Mizuho decreased their target price on Cytokinetics from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.33.

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.