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 the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $50.16, for a total transaction of $366,168.00. Following the transaction, the executive vice president now directly owns 111,878 shares in the company, valued at approximately $5,611,800.48. The trade was a 6.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 stock was sold at an average price of $58.48, for a total transaction of $370,880.16.
• On Wednesday, October 30th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The shares were 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 shares were 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 value of $380,330.00.
• On Tuesday, September 3rd, Fady Ibraham Malik sold 7,384 shares of Cytokinetics stock. The shares were sold at an average price of $57.01, for a total value of $420,961.84.

Cytokinetics Trading Up 3.5 %

NASDAQ CYTK opened at $52.02 on Wednesday. Cytokinetics, Incorporated has a 52 week low of $30.68 and a 52 week high of $110.25. The firm has a 50 day moving average of $53.47 and a two-hundred day moving average of $54.57. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The stock has a market capitalization of $6.14 billion, a PE ratio of -9.67 and a beta of 0.78.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. O Shaughnessy Asset Management LLC raised its holdings in Cytokinetics by 105.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 5,028 shares of the biopharmaceutical company’s stock worth $353,000 after purchasing an additional 2,577 shares in the last quarter. Bessemer Group Inc. lifted its position in Cytokinetics by 25,100.0% in the first quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock valued at $88,000 after acquiring an additional 1,255 shares during the last quarter. Gabelli Funds LLC acquired a new position in Cytokinetics in the first quarter valued at $351,000. Kennedy Capital Management LLC purchased a new position in shares of Cytokinetics during the first quarter worth about $224,000. Finally, Castleark Management LLC acquired a new stake in shares of Cytokinetics during the first quarter worth about $1,471,000.

Wall Street Analysts Forecast Growth

CYTK has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a report on Wednesday, November 20th. JPMorgan Chase & Co. upped their price objective on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Mizuho lifted their target price on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. The Goldman Sachs Group lowered Cytokinetics from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $85.00 to $60.00 in a research report on Tuesday, August 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $83.93.

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.