Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells $392,156.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $53.72, for a total transaction of $392,156.00. Following the transaction, the executive vice president now owns 133,004 shares of the company’s stock, valued at approximately $7,144,974.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, June 11th, Fady Ibraham Malik sold 7,788 shares of Cytokinetics stock. The shares were sold at an average price of $53.04, for a total transaction of $413,075.52.
• On Tuesday, May 7th, Fady Ibraham Malik sold 15,547 shares of Cytokinetics stock. The shares were sold at an average price of $65.11, for a total transaction of $1,012,265.17.
• 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 transaction of $2,422,877.55.

Cytokinetics Stock Performance

Shares of Cytokinetics stock opened at $53.78 on Friday. Cytokinetics, Incorporated has a 52-week low of $25.98 and a 52-week high of $110.25. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of -9.96 and a beta of 0.74. The company’s 50 day moving average price is $57.03 and its 200-day moving average price is $66.68.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.17). The company had revenue of $0.84 million during the quarter, compared to the consensus estimate of $0.91 million. The firm’s quarterly revenue was down 81.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.38) EPS. As a group, equities research analysts forecast that Cytokinetics, Incorporated will post -4.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CYTK has been the subject of a number of analyst reports. HC Wainwright restated a “buy” rating and issued a $90.00 price objective on shares of Cytokinetics in a research report on Monday, June 17th. B. Riley cut their price objective on shares of Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th. JPMorgan Chase & Co. dropped their target price on shares of Cytokinetics from $77.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday. Bank of America dropped their price target on Cytokinetics from $70.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, May 23rd. Finally, Truist Financial reduced their price objective on Cytokinetics from $86.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Cytokinetics presently has an average rating of “Moderate Buy” and an average price target of $77.06.

Hedge Funds Weigh In On Cytokinetics

A number of hedge funds and other institutional investors have recently made changes to their positions in CYTK. Fifth Third Bancorp raised its holdings in shares of Cytokinetics by 94.1% during the first quarter. Fifth Third Bancorp now owns 656 shares of the biopharmaceutical company’s stock valued at $46,000 after acquiring an additional 318 shares in the last quarter. EntryPoint Capital LLC bought a new position in Cytokinetics in the first quarter worth $74,000. GAMMA Investing LLC bought a new position in Cytokinetics in the fourth quarter worth $80,000. Bessemer Group Inc. raised its holdings in Cytokinetics by 25,100.0% in the first quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 1,255 shares in the last quarter. Finally, Sage Rhino Capital LLC bought a new position in Cytokinetics in the fourth quarter worth $204,000.

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.