Fady Ibraham Malik Sells 6,342 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 6,342 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $58.48, for a total transaction of $370,880.16. Following the sale, the executive vice president now owns 113,878 shares of the company’s stock, valued at approximately $6,659,585.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 value of $378,943.00.
• 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 value of $395,587.00.
• On Tuesday, October 1st, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The shares were 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 stock was sold at an average price of $57.01, for a total transaction of $420,961.84.

Cytokinetics Price Performance

Cytokinetics stock traded down $0.23 during mid-day trading on Wednesday, reaching $55.96. The stock had a trading volume of 883,798 shares, compared to its average volume of 2,066,844. Cytokinetics, Incorporated has a one year low of $30.68 and a one year high of $110.25. The company has a 50-day moving average price of $54.16 and a two-hundred day moving average price of $55.38. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The firm had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $1.21 million. The business’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.35) EPS. As a group, equities analysts anticipate that Cytokinetics, Incorporated will post -5.31 EPS for the current year.

Institutional Trading of Cytokinetics

Institutional investors and hedge funds have recently modified their holdings of the business. Darwin Global Management Ltd. purchased a new position in Cytokinetics in the second quarter worth about $246,074,000. Westfield Capital Management Co. LP bought a new position in shares of Cytokinetics in the 1st quarter worth approximately $51,277,000. Integral Health Asset Management LLC boosted its holdings in shares of Cytokinetics by 122.2% in the second 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 last quarter. Charles Schwab Investment Management Inc. grew its position 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 valued at $69,769,000 after buying an additional 395,709 shares during the period. Finally, Iron Triangle Partners LP purchased a new stake in Cytokinetics during the first quarter valued at approximately $21,033,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CYTK shares. JPMorgan Chase & Co. raised their price target on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. The Goldman Sachs Group cut Cytokinetics from a “buy” rating to a “neutral” rating and cut their target price for the stock from $85.00 to $60.00 in a research note on Tuesday, August 13th. HC Wainwright reaffirmed a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a research report on Thursday, November 7th. JMP Securities reiterated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research report on Wednesday, September 4th. Finally, Needham & Company LLC restated a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $83.67.

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.