Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells $378,943.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $51.91, for a total transaction of $378,943.00. Following the sale, the executive vice president now directly owns 114,920 shares of the company’s stock, valued at $5,965,497.20. This represents a 0.00 % decrease in their position. The sale 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, 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 stock was 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 transaction of $420,961.84.
• 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.

Cytokinetics Stock Performance

Cytokinetics stock traded down $0.31 during midday trading on Thursday, hitting $51.00. The company’s stock had a trading volume of 989,437 shares, compared to its average volume of 2,094,364. Cytokinetics, Incorporated has a 1-year low of $30.68 and a 1-year high of $110.25. The company has a debt-to-equity ratio of 5.93, a current ratio of 10.39 and a quick ratio of 10.39. The company has a 50-day moving average price of $54.50 and a two-hundred day moving average price of $56.23. The company has a market cap of $6.00 billion, a price-to-earnings ratio of -9.50 and a beta of 0.77.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The business had revenue of $0.25 million for the quarter, compared to analysts’ expectations of $7.61 million. During the same quarter in the prior year, the company posted ($1.34) earnings per share. The firm’s revenue for the quarter was down 71.3% on a year-over-year basis. As a group, sell-side analysts predict that Cytokinetics, Incorporated will post -5.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CYTK. The Goldman Sachs Group downgraded shares of 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 report on Tuesday, August 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research report on Thursday, October 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. HC Wainwright reiterated a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research note on Thursday, October 17th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Hedge Funds Weigh In On Cytokinetics

Hedge funds have recently bought and sold shares of the company. State of Michigan Retirement System bought a new position in Cytokinetics in the 1st quarter valued at about $1,690,000. Entropy Technologies LP grew its holdings in shares of Cytokinetics by 110.6% during the 1st quarter. Entropy Technologies LP now owns 19,433 shares of the biopharmaceutical company’s stock valued at $1,362,000 after purchasing an additional 10,205 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Cytokinetics during the 1st quarter valued at approximately $4,703,000. Westfield Capital Management Co. LP bought a new stake in shares of Cytokinetics during the 1st quarter valued at approximately $51,277,000. Finally, Ghisallo Capital Management LLC bought a new stake in shares of Cytokinetics during the 2nd quarter valued at approximately $10,619,000.

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.