Fady Ibraham Malik Sells 2,000 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $45.98, for a total value of $91,960.00. Following the transaction, the executive vice president now directly owns 116,071 shares in the company, valued at approximately $5,336,944.58. This trade represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, February 4th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The stock was sold at an average price of $48.06, for a total value of $96,120.00.
• On Tuesday, January 21st, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The stock was sold at an average price of $45.92, for a total value of $91,840.00.
• On Tuesday, January 7th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The stock was sold at an average price of $49.32, for a total value of $98,640.00.
• On Tuesday, December 10th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $50.64, for a total value of $369,672.00.
• On Tuesday, November 26th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $50.16, for a total value of $366,168.00.

Cytokinetics Price Performance

Cytokinetics stock opened at $46.40 on Thursday. Cytokinetics, Incorporated has a one year low of $40.53 and a one year high of $81.36. The business has a fifty day moving average price of $47.24 and a 200-day moving average price of $51.56. 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 $5.48 billion, a P/E ratio of -8.62 and a beta of 0.83.

Hedge Funds Weigh In On Cytokinetics

A number of large investors have recently made changes to their positions in CYTK. Deep Track Capital LP boosted its holdings in shares of Cytokinetics by 296.9% in the fourth quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company’s stock worth $117,600,000 after acquiring an additional 1,870,094 shares during the period. Capital International Investors bought a new position in shares of Cytokinetics in the fourth quarter worth $51,564,000. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Cytokinetics by 11.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company’s stock worth $505,780,000 after acquiring an additional 1,062,136 shares during the period. Norges Bank bought a new position in shares of Cytokinetics in the fourth quarter worth $46,556,000. Finally, Vestal Point Capital LP boosted its holdings in shares of Cytokinetics by 56.7% in the fourth quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company’s stock worth $110,544,000 after acquiring an additional 850,000 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CYTK shares. Evercore ISI raised Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. HC Wainwright reissued a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a research note on Tuesday, January 21st. Royal Bank of Canada upped their target price on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Stifel Nicolaus initiated coverage on Cytokinetics in a report on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 target price for the company. Finally, Citigroup initiated coverage on Cytokinetics in a report on Friday, February 7th. They issued a “buy” rating and a $86.00 target price for the company. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

Cytokinetics Company Profile

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.