Fady Ibraham Malik Sells 3,500 Shares of Cytokinetics (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 3,500 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $75.82, for a total transaction of $265,370.00. Following the sale, the executive vice president directly owned 153,902 shares in the company, valued at $11,668,849.64. This trade represents a 2.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, July 21st, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $80.59, for a total transaction of $282,065.00.
• On Tuesday, July 7th, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $86.62, for a total transaction of $303,170.00.
• On Tuesday, June 23rd, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $79.51, for a total transaction of $278,285.00.
• On Tuesday, June 9th, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $67.98, for a total value of $237,930.00.

Cytokinetics Trading Up 2.2%

Shares of Cytokinetics stock opened at $77.74 on Thursday. The stock has a market capitalization of $9.67 billion, a price-to-earnings ratio of -10.77 and a beta of 0.38. Cytokinetics, Incorporated has a twelve month low of $35.22 and a twelve month high of $88.31. The business’s 50 day simple moving average is $79.80 and its 200-day simple moving average is $71.62.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.50) EPS for the quarter, topping analysts’ consensus estimates of ($1.63) by $0.13. The company had revenue of $28.62 million for the quarter, compared to the consensus estimate of $17.59 million. During the same quarter in the previous year, the company earned ($1.12) earnings per share. Cytokinetics’s quarterly revenue was down 57.1% compared to the same quarter last year. Sell-side analysts predict that Cytokinetics, Incorporated will post -6 earnings per share for the current year.

Institutional Investors Weigh In On Cytokinetics

Several institutional investors have recently bought and sold shares of CYTK. Vanguard Group Inc. increased its stake in Cytokinetics by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 12,048,131 shares of the biopharmaceutical company’s stock valued at $765,538,000 after buying an additional 191,336 shares during the period. State Street Corp lifted its stake in shares of Cytokinetics by 3.7% in the 4th quarter. State Street Corp now owns 5,825,295 shares of the biopharmaceutical company’s stock worth $370,139,000 after acquiring an additional 207,961 shares during the period. Deep Track Capital LP boosted its holdings in shares of Cytokinetics by 17.8% in the third quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company’s stock valued at $236,328,000 after acquiring an additional 650,000 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cytokinetics by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,056,017 shares of the biopharmaceutical company’s stock valued at $194,214,000 after acquiring an additional 15,815 shares in the last quarter. Finally, Vestal Point Capital LP increased its stake in shares of Cytokinetics by 14.8% during the second quarter. Vestal Point Capital LP now owns 2,975,000 shares of the biopharmaceutical company’s stock valued at $98,294,000 after acquiring an additional 384,469 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CYTK shares. Royal Bank Of Canada dropped their price objective on shares of Cytokinetics from $117.00 to $112.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. UBS Group upgraded shares of Cytokinetics from a “neutral” rating to a “buy” rating and upped their target price for the stock from $69.00 to $115.00 in a research report on Monday, June 29th. Wells Fargo & Company raised their price target on shares of Cytokinetics from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Wall Street Zen raised Cytokinetics from a “sell” rating to a “hold” rating in a report on Sunday. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Cytokinetics in a report on Friday, August 14th. Nineteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $102.20.

Cytokinetics Company Profile

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.