Fady Ibraham Malik Sells 2,200 Shares of Cytokinetics (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 2,200 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $61.24, for a total transaction of $134,728.00. Following the completion of the sale, the executive vice president directly owned 138,552 shares of the company’s stock, valued at $8,484,924.48. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Tuesday, December 2nd, Fady Ibraham Malik sold 2,200 shares of Cytokinetics stock. The stock was sold at an average price of $63.89, for a total value of $140,558.00.
• On Tuesday, November 18th, Fady Ibraham Malik sold 2,200 shares of Cytokinetics stock. The shares were sold at an average price of $66.45, for a total transaction of $146,190.00.
• On Tuesday, November 4th, Fady Ibraham Malik sold 2,295 shares of Cytokinetics stock. The shares were sold at an average price of $59.55, for a total transaction of $136,667.25.
• On Tuesday, October 21st, Fady Ibraham Malik sold 2,105 shares of Cytokinetics stock. The stock was sold at an average price of $58.22, for a total transaction of $122,553.10.
• On Tuesday, October 7th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The stock was sold at an average price of $60.56, for a total transaction of $121,120.00.
• On Tuesday, September 23rd, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were sold at an average price of $49.28, for a total transaction of $98,560.00.

Cytokinetics Stock Performance

Shares of NASDAQ CYTK opened at $59.73 on Thursday. The firm’s fifty day moving average is $62.62 and its two-hundred day moving average is $48.10. Cytokinetics, Incorporated has a 52-week low of $29.31 and a 52-week high of $69.33. The company has a market cap of $7.30 billion, a P/E ratio of -9.50 and a beta of 0.58.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.59) by $0.05. The firm had revenue of $1.94 million for the quarter, compared to analysts’ expectations of $6.05 million. During the same quarter in the previous year, the business earned ($1.36) EPS. The company’s revenue for the quarter was up 318.1% on a year-over-year basis. As a group, analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cetera Investment Advisers lifted its position in Cytokinetics by 29.7% during the first quarter. Cetera Investment Advisers now owns 5,904 shares of the biopharmaceutical company’s stock worth $237,000 after buying an additional 1,353 shares in the last quarter. US Bancorp DE boosted its stake in shares of Cytokinetics by 38.7% in the first quarter. US Bancorp DE now owns 2,410 shares of the biopharmaceutical company’s stock valued at $97,000 after purchasing an additional 672 shares during the period. Nuveen LLC purchased a new position in Cytokinetics in the 1st quarter valued at approximately $14,121,000. HighTower Advisors LLC boosted its holdings in Cytokinetics by 21.8% in the first quarter. HighTower Advisors LLC now owns 11,352 shares of the biopharmaceutical company’s stock valued at $456,000 after purchasing an additional 2,029 shares during the period. Finally, Aberdeen Group plc raised its position in Cytokinetics by 33.7% in the 1st quarter. Aberdeen Group plc now owns 602,421 shares of the biopharmaceutical company’s stock valued at $24,211,000 after purchasing an additional 151,908 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have commented on CYTK shares. Citigroup increased their price objective on shares of Cytokinetics from $77.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, September 2nd. Stifel Nicolaus lifted their price target on Cytokinetics from $87.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, September 2nd. Royal Bank Of Canada upped their price objective on Cytokinetics from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th. Bank of America increased their price target on Cytokinetics from $52.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, October 2nd. Finally, UBS Group restated a “neutral” rating and set a $61.00 price objective on shares of Cytokinetics in a report on Monday, December 1st. Thirteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.29.

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.