Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells $366,168.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $50.16, for a total transaction of $366,168.00. Following the transaction, the executive vice president now directly owns 111,878 shares in the company, valued at approximately $5,611,800.48. This represents a 6.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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 stock was sold at an average price of $58.48, for a total value 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 value 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 shares were 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 stock was sold at an average price of $57.01, for a total transaction of $420,961.84.

Cytokinetics Stock Performance

NASDAQ CYTK traded up $1.77 during trading on Tuesday, reaching $52.02. 931,144 shares of the company’s stock were exchanged, compared to its average volume of 2,048,818. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The stock has a market capitalization of $6.14 billion, a P/E ratio of -9.67 and a beta of 0.78. Cytokinetics, Incorporated has a fifty-two week low of $30.68 and a fifty-two week high of $110.25. The business has a 50 day moving average price of $53.47 and a 200-day moving average price of $54.57.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The company had revenue of $0.46 million during the quarter, compared to analyst estimates of $1.21 million. During the same period in the previous year, the business earned ($1.35) EPS. Cytokinetics’s revenue for the quarter was up 22.5% compared to the same quarter last year. Sell-side analysts forecast that Cytokinetics, Incorporated will post -5.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CYTK shares. Royal Bank of Canada started coverage on shares of Cytokinetics in a report on Friday, November 8th. They set an “outperform” rating and a $80.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research note on Wednesday, November 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. JMP Securities reissued a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. upped their price target on Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average 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 CYTK. Darwin Global Management Ltd. bought a new stake in shares of Cytokinetics during the 2nd quarter worth approximately $246,074,000. Integral Health Asset Management LLC lifted its stake in Cytokinetics by 122.2% during the second quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $54,180,000 after purchasing an additional 550,000 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Cytokinetics by 42.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock valued at $69,769,000 after purchasing an additional 395,709 shares during the last quarter. Westfield Capital Management Co. LP increased its stake in shares of Cytokinetics by 38.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock valued at $64,040,000 after purchasing an additional 339,373 shares during the last quarter. Finally, Checkpoint Capital L.P. lifted its position in shares of Cytokinetics by 145.7% during the 3rd quarter. Checkpoint Capital L.P. now owns 466,813 shares of the biopharmaceutical company’s stock worth $24,648,000 after buying an additional 276,813 shares during the last quarter.

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.