Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells $420,961.84 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 7,384 shares of Cytokinetics stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $57.01, for a total value of $420,961.84. Following the transaction, the executive vice president now owns 122,920 shares in the company, valued at approximately $7,007,669.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, August 6th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $53.71, for a total transaction of $392,083.00.
• On Tuesday, July 23rd, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The shares were sold at an average price of $57.02, for a total transaction of $416,246.00.
• On Tuesday, July 9th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $55.90, for a total transaction of $408,070.00.
• On Tuesday, June 25th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The shares were sold at an average price of $53.72, for a total value of $392,156.00.
• On Tuesday, June 11th, Fady Ibraham Malik sold 7,788 shares of Cytokinetics stock. The stock was sold at an average price of $53.04, for a total value of $413,075.52.

Cytokinetics Stock Up 1.9 %

Shares of Cytokinetics stock opened at $55.93 on Friday. The company has a quick ratio of 10.39, a current ratio of 10.39 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 52-week low of $25.98 and a 52-week high of $110.25. The company has a market capitalization of $5.86 billion, a P/E ratio of -10.36 and a beta of 0.77. The company has a 50 day moving average of $56.23 and a 200 day moving average of $60.85.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.25). The company had revenue of $0.25 million for the quarter, compared to analysts’ expectations of $7.61 million. During the same period in the prior year, the firm posted ($1.34) EPS. The company’s quarterly revenue was down 71.3% on a year-over-year basis. As a group, research analysts forecast that Cytokinetics, Incorporated will post -5.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CYTK. J.Safra Asset Management Corp lifted its stake in Cytokinetics by 642.3% during the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 456 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Cytokinetics by 94.1% during the 1st quarter. Fifth Third Bancorp now owns 656 shares of the biopharmaceutical company’s stock worth $46,000 after buying an additional 318 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Cytokinetics in the 1st quarter valued at $74,000. Bessemer Group Inc. boosted its holdings in shares of Cytokinetics by 25,100.0% in the 1st quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 1,255 shares in the last quarter. Finally, Quarry LP grew its position in shares of Cytokinetics by 233.3% in the 2nd quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 1,400 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CYTK shares. Oppenheimer lowered their price target on Cytokinetics from $107.00 to $106.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research report on Tuesday. Raymond James reduced their price target on shares of Cytokinetics from $92.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, May 23rd. JPMorgan Chase & Co. increased their price objective on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Cytokinetics in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $80.67.

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.