Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells $370,880.16 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 6,342 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $58.48, for a total transaction of $370,880.16. Following the completion of the transaction, the executive vice president now owns 113,878 shares in the company, valued at $6,659,585.44. The trade was a 5.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• 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 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 transaction of $420,961.84.

Cytokinetics Trading Down 8.2 %

Shares of CYTK opened at $50.22 on Friday. Cytokinetics, Incorporated has a twelve month low of $30.68 and a twelve month high of $110.25. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The company’s fifty day simple moving average is $54.08 and its 200-day simple moving average is $55.30. The company has a market cap of $5.93 billion, a P/E ratio of -9.33 and a beta of 0.78.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The business had revenue of $0.46 million for the quarter, compared to analyst estimates of $1.21 million. During the same period in the prior year, the firm posted ($1.35) earnings per share. Cytokinetics’s revenue was up 22.5% compared to the same quarter last year. As a group, analysts expect that Cytokinetics, Incorporated will post -5.31 EPS for the current year.

Institutional Investors Weigh In On Cytokinetics

Several hedge funds have recently made changes to their positions in the company. Darwin Global Management Ltd. purchased a new position in Cytokinetics during the 2nd quarter valued at about $246,074,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Cytokinetics by 42.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock valued at $69,769,000 after acquiring an additional 395,709 shares during the period. Westfield Capital Management Co. LP raised its position in shares of Cytokinetics by 38.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock worth $64,040,000 after acquiring an additional 339,373 shares in the last quarter. Janus Henderson Group PLC boosted its position in Cytokinetics by 17.2% during the third quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock valued at $60,399,000 after purchasing an additional 167,501 shares in the last quarter. Finally, Integral Health Asset Management LLC raised its holdings in Cytokinetics by 122.2% in the second quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $54,180,000 after purchasing an additional 550,000 shares in the last quarter.

Wall Street Analysts Forecast Growth

CYTK has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. The Goldman Sachs Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $60.00 in a research note on Tuesday, August 13th. Needham & Company LLC restated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research note on Thursday, October 17th. Royal Bank of Canada initiated coverage on shares of Cytokinetics in a report on Friday, November 8th. They issued an “outperform” rating and a $80.00 target price on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cytokinetics presently has a consensus rating of “Moderate Buy” and an average price target of $83.67.

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.