Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells $91,840.00 in 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, January 21st. The shares were sold at an average price of $45.92, for a total value of $91,840.00. Following the completion of the sale, the executive vice president now owns 116,071 shares in the company, valued at approximately $5,329,980.32. This represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Tuesday, January 7th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were 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 stock was sold at an average price of $50.16, for a total value of $366,168.00.
• On Tuesday, November 12th, Fady Ibraham Malik sold 6,342 shares of Cytokinetics stock. The shares were sold at an average price of $58.48, for a total value of $370,880.16.
• On Wednesday, October 30th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $51.91, for a total value of $378,943.00.

Cytokinetics Stock Performance

Shares of CYTK stock opened at $47.86 on Friday. The stock has a 50-day moving average of $48.80 and a 200-day moving average of $53.00. Cytokinetics, Incorporated has a one year low of $44.49 and a one year high of $84.11. The stock has a market cap of $5.65 billion, a PE ratio of -8.90 and a beta of 0.82. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The firm had revenue of $0.46 million for the quarter, compared to the consensus estimate of $1.21 million. During the same quarter last year, the company posted ($1.35) earnings per share. The firm’s quarterly revenue was up 22.5% on a year-over-year basis. As a group, sell-side analysts expect that Cytokinetics, Incorporated will post -5.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CYTK has been the topic of several research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. Royal Bank of Canada upped their target price on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Stifel Nicolaus initiated coverage on shares of Cytokinetics in a report on Wednesday. They issued a “buy” rating and a $80.00 price target for the company. Mizuho upped their price objective on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research note on Monday, December 2nd. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cytokinetics currently has an average rating of “Moderate Buy” and an average price target of $83.40.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Darwin Global Management Ltd. acquired a new stake in shares of Cytokinetics during the second quarter worth about $246,074,000. Integral Health Asset Management LLC raised its holdings in Cytokinetics by 122.2% during the 2nd quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $54,180,000 after buying an additional 550,000 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Cytokinetics by 42.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock valued at $69,769,000 after buying an additional 395,709 shares in the last quarter. Westfield Capital Management Co. LP increased its position in shares of Cytokinetics by 38.9% during 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. Finally, Checkpoint Capital L.P. raised its holdings in shares of Cytokinetics by 145.7% during the third quarter. Checkpoint Capital L.P. now owns 466,813 shares of the biopharmaceutical company’s stock worth $24,648,000 after acquiring an additional 276,813 shares during the period.

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.