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

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $50.16, for a total value of $366,168.00. Following the completion of the sale, the executive vice president now owns 111,878 shares of the company’s stock, valued at approximately $5,611,800.48. This trade represents a 6.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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 shares were sold at an average price of $58.48, for a total transaction 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 shares were sold at an average price of $54.19, for a total transaction of $395,587.00.
• On Tuesday, October 1st, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was 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 shares were sold at an average price of $57.01, for a total value of $420,961.84.

Cytokinetics Stock Performance

NASDAQ:CYTK opened at $52.22 on Friday. 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 stock has a market capitalization of $6.16 billion, a PE ratio of -9.71 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 company has a fifty day moving average of $53.31 and a two-hundred day moving average of $54.48.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results 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 company had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $1.21 million. During the same quarter in the previous year, the company earned ($1.35) earnings per share. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. As a group, research analysts forecast that Cytokinetics, Incorporated will post -5.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. JMP Securities reiterated a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research report on Wednesday, September 4th. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a report on Monday, November 18th. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a research note on Wednesday, November 20th. The Goldman Sachs Group downgraded shares of Cytokinetics from a “buy” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $60.00 in a research report on Tuesday, August 13th. Finally, Mizuho increased their price target on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Institutional Investors Weigh In On Cytokinetics

A number of large investors have recently made changes to their positions in CYTK. Teachers Retirement System of The State of Kentucky grew its holdings in Cytokinetics by 12.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 56,885 shares of the biopharmaceutical company’s stock valued at $3,003,000 after buying an additional 6,300 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Cytokinetics by 4.0% during the 3rd 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 during the last quarter. XTX Topco Ltd purchased a new stake in shares of Cytokinetics in the third quarter valued at about $521,000. Two Sigma Advisers LP acquired a new stake in Cytokinetics during the third quarter worth about $11,336,000. Finally, Stifel Financial Corp raised its stake in Cytokinetics by 8.5% during the third quarter. Stifel Financial Corp now owns 25,067 shares of the biopharmaceutical company’s stock worth $1,324,000 after purchasing an additional 1,959 shares during the period.

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.