Fady Ibraham Malik Sells 7,300 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $51.91, for a total value of $378,943.00. Following the sale, the executive vice president now owns 114,920 shares of the company’s stock, valued at $5,965,497.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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 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 shares were sold at an average price of $57.01, for a total value of $420,961.84.
• On Tuesday, August 6th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The shares were sold at an average price of $53.71, for a total value of $392,083.00.

Cytokinetics Stock Down 0.6 %

Shares of NASDAQ:CYTK opened at $51.00 on Friday. The stock’s 50-day moving average is $54.50 and its 200-day moving average is $56.23. Cytokinetics, Incorporated has a 52-week low of $30.68 and a 52-week high of $110.25. The company has a quick ratio of 10.39, a current ratio of 10.39 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The firm had revenue of $0.25 million during the quarter, compared to the consensus estimate of $7.61 million. The business’s revenue was down 71.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.34) earnings per share. On average, sell-side analysts forecast that Cytokinetics, Incorporated will post -5.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CYTK has been the subject of a number of research analyst reports. HC Wainwright restated a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a report on Thursday, October 17th. JPMorgan Chase & Co. upped their price target on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research note on Wednesday, September 4th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. Finally, The Goldman Sachs Group downgraded shares of Cytokinetics from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $85.00 to $60.00 in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Cytokinetics presently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Institutional Investors Weigh In On Cytokinetics

Several hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System lifted its stake in shares of Cytokinetics by 0.6% in the third quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the biopharmaceutical company’s stock valued at $1,721,000 after buying an additional 200 shares during the period. UMB Bank n.a. lifted its stake in shares of Cytokinetics by 65.6% in the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 238 shares during the period. First Bank & Trust lifted its stake in Cytokinetics by 4.7% during the second quarter. First Bank & Trust now owns 6,757 shares of the biopharmaceutical company’s stock worth $366,000 after purchasing an additional 303 shares during the period. Nisa Investment Advisors LLC lifted its stake in Cytokinetics by 2.9% during the third quarter. Nisa Investment Advisors LLC now owns 15,062 shares of the biopharmaceutical company’s stock worth $795,000 after purchasing an additional 430 shares during the period. Finally, J.Safra Asset Management Corp lifted its stake in Cytokinetics by 642.3% during the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 456 shares during the period.

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.