Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells $96,120.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 2,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $48.06, for a total transaction of $96,120.00. Following the transaction, the executive vice president now owns 116,071 shares in the company, valued at $5,578,372.26. This represents a 1.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• 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 transaction of $98,640.00.
• On Tuesday, December 10th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The shares were sold at an average price of $50.64, for a total transaction of $369,672.00.
• On Tuesday, November 26th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The shares were sold at an average price of $50.16, for a total transaction of $366,168.00.
• 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.

Cytokinetics Price Performance

NASDAQ CYTK opened at $50.41 on Thursday. The company’s 50 day moving average is $48.62 and its two-hundred day moving average is $52.55. 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 stock has a market cap of $5.95 billion, a price-to-earnings ratio of -9.37 and a beta of 0.83. Cytokinetics, Incorporated has a 12 month low of $44.49 and a 12 month high of $81.36.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The business had revenue of $0.46 million during the quarter, compared to analyst estimates of $1.21 million. Cytokinetics’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period last year, the firm earned ($1.35) EPS. As a group, research analysts anticipate that Cytokinetics, Incorporated will post -5.25 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CYTK. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research report on Monday, December 2nd. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. Stifel Nicolaus assumed coverage on shares of Cytokinetics in a report on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price target on the stock. Mizuho lifted their price objective on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, JMP Securities restated a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research note on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $82.79.

Institutional Investors Weigh In On Cytokinetics

Several large investors have recently made changes to their positions in the company. Van ECK Associates Corp raised its stake in Cytokinetics by 21.3% during the third quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company’s stock valued at $3,802,000 after purchasing an additional 12,565 shares in the last quarter. Westfield Capital Management Co. LP grew its position in Cytokinetics by 38.9% in the third 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. Charles Schwab Investment Management Inc. increased its stake in Cytokinetics by 42.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock worth $69,769,000 after acquiring an additional 395,709 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Cytokinetics during the third quarter valued at approximately $558,000. Finally, Cetera Investment Advisers lifted its stake in shares of Cytokinetics by 128.5% in the 2nd quarter. Cetera Investment Advisers now owns 27,320 shares of the biopharmaceutical company’s stock valued at $1,480,000 after purchasing an additional 15,366 shares during the last quarter.

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.