Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik Sells 2,000 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $49.32, for a total transaction of $98,640.00. Following the completion of the sale, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at approximately $5,724,621.72. The trade was a 1.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, December 10th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $50.64, for a total value of $369,672.00.
• On Tuesday, November 26th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The shares were sold at an average price of $50.16, for a total value of $366,168.00.
• 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 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.

Cytokinetics Stock Performance

Shares of NASDAQ CYTK traded down $0.75 during mid-day trading on Friday, hitting $46.62. The stock had a trading volume of 1,738,815 shares, compared to its average volume of 1,032,659. The firm has a market cap of $5.50 billion, a PE ratio of -8.67 and a beta of 0.82. 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 company has a 50 day moving average of $50.53 and a two-hundred day moving average of $53.52. Cytokinetics, Incorporated has a twelve month low of $45.17 and a twelve month high of $100.49.

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

Institutional Trading of Cytokinetics

Several large investors have recently made changes to their positions in CYTK. Harbor Capital Advisors Inc. lifted its position in Cytokinetics by 6.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 45,130 shares of the biopharmaceutical company’s stock valued at $2,123,000 after purchasing an additional 2,604 shares during the period. Exome Asset Management LLC acquired a new position in shares of Cytokinetics in the 3rd quarter valued at about $3,093,000. Retirement Systems of Alabama boosted its stake in shares of Cytokinetics by 1.0% in the third quarter. Retirement Systems of Alabama now owns 142,930 shares of the biopharmaceutical company’s stock worth $7,547,000 after buying an additional 1,414 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in Cytokinetics by 12.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 56,885 shares of the biopharmaceutical company’s stock worth $3,003,000 after acquiring an additional 6,300 shares during the period. Finally, Geode Capital Management LLC raised its position in Cytokinetics by 4.0% during the third quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock valued at $150,433,000 after acquiring an additional 109,938 shares in the last quarter.

Analyst Ratings Changes

A number of analysts recently weighed in on CYTK shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. HC Wainwright reaffirmed a “buy” rating on shares of Cytokinetics in a research report on Friday. Royal Bank of Canada lifted their price objective on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Needham & Company LLC restated a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a report on Monday, December 2nd. Finally, Mizuho lifted their price target on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.64.

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.