Fady Ibraham Malik Sells 4,500 Shares of Cytokinetics (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 4,500 shares of Cytokinetics stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $65.11, for a total transaction of $292,995.00. Following the completion of the transaction, the executive vice president owned 153,902 shares of the company’s stock, valued at $10,020,559.22. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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, March 17th, Fady Ibraham Malik sold 12,033 shares of Cytokinetics stock. The shares were sold at an average price of $62.15, for a total transaction of $747,850.95.
• On Monday, March 9th, Fady Ibraham Malik sold 2,907 shares of Cytokinetics stock. The stock was sold at an average price of $60.72, for a total transaction of $176,513.04.

Cytokinetics Stock Up 0.4%

CYTK stock traded up $0.29 during trading on Wednesday, hitting $65.77. The company had a trading volume of 1,755,975 shares, compared to its average volume of 1,919,539. The firm has a 50-day moving average price of $63.88 and a 200-day moving average price of $62.43. Cytokinetics, Incorporated has a 12 month low of $29.31 and a 12 month high of $70.98. The stock has a market cap of $8.10 billion, a price-to-earnings ratio of -10.07 and a beta of 0.47.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.48) by ($0.02). The company had revenue of $17.76 million for the quarter, compared to analysts’ expectations of $8.02 million. During the same period in the previous year, the business earned ($1.26) EPS. Cytokinetics’s revenue was up 4.9% compared to the same quarter last year. Equities analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Institutional Trading of Cytokinetics

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its holdings in Cytokinetics by 723.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 673 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in Cytokinetics during the 4th quarter worth $27,000. Kestra Advisory Services LLC acquired a new stake in Cytokinetics during the 4th quarter worth $29,000. Quarry LP acquired a new stake in Cytokinetics during the 3rd quarter worth $30,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in Cytokinetics during the 4th quarter worth $32,000.

Analyst Ratings Changes

Several research analysts recently weighed in on CYTK shares. Barclays boosted their price objective on shares of Cytokinetics from $87.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday. Truist Financial boosted their price objective on shares of Cytokinetics from $84.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, February 3rd. UBS Group boosted their price objective on shares of Cytokinetics from $61.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, March 6th. Robert W. Baird set a $84.00 price objective on shares of Cytokinetics in a research report on Tuesday, March 10th. Finally, Mizuho boosted their price objective on shares of Cytokinetics from $84.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.32.

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.