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

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $50.16, for a total transaction of $366,168.00. Following the sale, the executive vice president now directly owns 111,878 shares of the company’s stock, valued at $5,611,800.48. The trade was a 6.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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 stock was sold at an average price of $58.48, for a total value of $370,880.16.
• On Wednesday, October 30th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $51.91, for a total value of $378,943.00.
• On Tuesday, October 15th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was 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 transaction of $380,330.00.
• On Tuesday, September 3rd, Fady Ibraham Malik sold 7,384 shares of Cytokinetics stock. The stock was sold at an average price of $57.01, for a total transaction of $420,961.84.

Cytokinetics Trading Up 3.5 %

Shares of NASDAQ:CYTK opened at $52.02 on Wednesday. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of -9.67 and a beta of 0.78. Cytokinetics, Incorporated has a 1 year low of $30.68 and a 1 year high of $110.25. The business’s 50 day moving average price is $53.47 and its 200-day moving average price is $54.57.

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. On average, equities research analysts forecast that Cytokinetics, Incorporated will post -5.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its holdings in shares of Cytokinetics by 0.6% during the third quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the biopharmaceutical company’s stock worth $1,721,000 after buying an additional 200 shares in the last quarter. UMB Bank n.a. boosted its position in Cytokinetics by 65.6% during the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 238 shares during the last quarter. First Bank & Trust grew its stake in Cytokinetics by 4.7% during the 2nd quarter. First Bank & Trust now owns 6,757 shares of the biopharmaceutical company’s stock valued at $366,000 after acquiring an additional 303 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Cytokinetics by 2.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 15,062 shares of the biopharmaceutical company’s stock valued at $795,000 after acquiring an additional 430 shares in the last quarter. Finally, J.Safra Asset Management Corp raised its holdings in Cytokinetics by 642.3% in the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 456 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have issued reports on CYTK shares. Mizuho raised their price target on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a report on Wednesday, September 4th. HC Wainwright reiterated a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. increased their price target on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. 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’s stock. According to data from MarketBeat.com, Cytokinetics presently has an average rating of “Moderate Buy” and an average price target of $83.93.

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.