Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik Sells 2,000 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 2,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $45.92, for a total value of $91,840.00. Following the completion of the transaction, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at approximately $5,329,980.32. This trade represents a 1.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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 stock was sold at an average price of $49.32, for a total value 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 transaction 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 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.

Cytokinetics Stock Up 0.2 %

NASDAQ:CYTK traded up $0.08 during mid-day trading on Tuesday, reaching $45.82. The company’s stock had a trading volume of 1,255,095 shares, compared to its average volume of 1,121,475. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 1 year low of $44.49 and a 1 year high of $84.92. The stock has a fifty day moving average of $49.33 and a 200-day moving average of $53.14. The firm has a market capitalization of $5.41 billion, a PE ratio of -8.52 and a beta of 0.82.

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 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 revenue for the quarter was up 22.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.35) earnings per share. Equities research analysts forecast that Cytokinetics, Incorporated will post -5.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

CYTK has been the topic of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research note on Tuesday, January 14th. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a research note on Monday, December 2nd. HC Wainwright reiterated a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research report on Tuesday. Royal Bank of Canada upped their price objective on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Finally, Mizuho lifted their target price on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Cytokinetics currently has an average rating of “Moderate Buy” and a consensus target price of $83.64.

Institutional Trading of Cytokinetics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Inspire Investing LLC grew its position in shares of Cytokinetics by 7.8% in the 4th quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock worth $400,000 after buying an additional 616 shares during the last quarter. Mirador Capital Partners LP boosted its position in shares of Cytokinetics by 1.6% in the 4th quarter. Mirador Capital Partners LP now owns 65,636 shares of the biopharmaceutical company’s stock worth $3,088,000 after purchasing an additional 1,010 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Cytokinetics by 6.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 45,130 shares of the biopharmaceutical company’s stock worth $2,123,000 after buying an additional 2,604 shares during the last quarter. Exome Asset Management LLC acquired a new position in Cytokinetics during the 3rd quarter valued at about $3,093,000. Finally, Retirement Systems of Alabama raised its stake in Cytokinetics by 1.0% in the third quarter. Retirement Systems of Alabama now owns 142,930 shares of the biopharmaceutical company’s stock valued at $7,547,000 after buying an additional 1,414 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.