Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells 7,300 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $50.16, for a total value of $366,168.00. Following the sale, the executive vice president now owns 111,878 shares in the company, valued at $5,611,800.48. This represents a 6.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 shares were 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 transaction 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 transaction 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 value of $420,961.84.

Cytokinetics Stock Performance

CYTK opened at $52.22 on Thursday. Cytokinetics, Incorporated has a 12-month low of $30.68 and a 12-month high of $110.25. The company has a market cap of $6.16 billion, a price-to-earnings ratio of -9.71 and a beta of 0.78. 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 50 day moving average is $53.39 and its 200 day moving average is $54.50.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The firm had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $1.21 million. During the same period last year, the firm posted ($1.35) earnings per share. Cytokinetics’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, equities research analysts predict that Cytokinetics, Incorporated will post -5.25 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on CYTK shares. JMP Securities reiterated a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research note on Wednesday, September 4th. Royal Bank of Canada started coverage on Cytokinetics in a research report on Friday, November 8th. They issued an “outperform” rating and a $80.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. Mizuho raised their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, HC Wainwright reiterated a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Institutional Trading of Cytokinetics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. J.Safra Asset Management Corp lifted its position in shares of Cytokinetics by 642.3% during the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 456 shares in the last quarter. UMB Bank n.a. lifted its holdings in Cytokinetics by 65.6% during the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 238 shares in the last quarter. Blue Trust Inc. lifted its holdings in Cytokinetics by 225.9% during the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 680 shares in the last quarter. Values First Advisors Inc. bought a new position in shares of Cytokinetics in the third quarter worth approximately $54,000. Finally, Bessemer Group Inc. increased its stake in shares of Cytokinetics by 25,100.0% in the first quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 1,255 shares in the last quarter.

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.