Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells $366,168.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 7,300 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $50.16, for a total transaction of $366,168.00. Following the sale, the executive vice president now directly owns 111,878 shares of the company’s stock, valued at approximately $5,611,800.48. The trade was a 6.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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 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 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 transaction 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 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.

Cytokinetics Trading Up 0.4 %

CYTK opened at $52.22 on Friday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The stock’s 50 day moving average price is $53.31 and its 200-day moving average price is $54.48. Cytokinetics, Incorporated has a one year low of $30.68 and a one year high of $110.25. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of -9.71 and a beta of 0.78.

Cytokinetics (NASDAQ:CYTK) last released its 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 business had revenue of $0.46 million during the quarter, compared to analyst estimates of $1.21 million. During the same quarter last year, the firm posted ($1.35) EPS. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, equities analysts forecast that Cytokinetics, Incorporated will post -5.25 EPS for the current year.

Analyst Upgrades and Downgrades

CYTK has been the subject of several recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a report on Wednesday, September 4th. 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 report on Tuesday, August 13th. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a report on Wednesday, November 20th. JPMorgan Chase & Co. boosted their target price on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Finally, Mizuho raised their price objective on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $83.93.

Institutional Trading of Cytokinetics

Institutional investors and hedge funds have recently modified their holdings of the stock. Darwin Global Management Ltd. bought a new stake in Cytokinetics during the 2nd quarter valued at $246,074,000. Geode Capital Management LLC lifted its position in shares of Cytokinetics by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock worth $150,433,000 after purchasing an additional 109,938 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings 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 worth $69,769,000 after buying an additional 395,709 shares during the period. Westfield Capital Management Co. LP increased its holdings in shares of Cytokinetics by 38.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock valued at $64,040,000 after acquiring an additional 339,373 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of Cytokinetics by 17.2% during the 3rd quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock worth $60,399,000 after purchasing an additional 167,501 shares during the last quarter.

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.