Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik Sells 15,547 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 15,547 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $65.11, for a total value of $1,012,265.17. Following the sale, the executive vice president now owns 137,056 shares in the company, valued at $8,923,716.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, April 9th, Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock. The shares were sold at an average price of $74.31, for a total value of $2,422,877.55.
• On Tuesday, March 5th, Fady Ibraham Malik sold 32,604 shares of Cytokinetics stock. The stock was sold at an average price of $67.56, for a total transaction of $2,202,726.24.

Cytokinetics Stock Up 0.4 %

CYTK stock traded up $0.23 on Tuesday, hitting $65.28. 848,100 shares of the company’s stock were exchanged, compared to its average volume of 2,759,635. The firm has a 50 day moving average price of $68.29 and a two-hundred day moving average price of $61.41. Cytokinetics, Incorporated has a 12-month low of $25.98 and a 12-month high of $110.25.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The firm had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $7.62 million. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.45) EPS. On average, research analysts expect that Cytokinetics, Incorporated will post -4.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CYTK has been the topic of a number of recent analyst reports. Mizuho reduced their price objective on shares of Cytokinetics from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, March 6th. UBS Group cut Cytokinetics from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $61.00 to $92.00 in a report on Wednesday, January 24th. Truist Financial restated a “buy” rating and issued a $86.00 target price on shares of Cytokinetics in a research note on Monday, April 8th. Oppenheimer reaffirmed an “outperform” rating and set a $107.00 price target on shares of Cytokinetics in a research note on Monday, March 4th. Finally, HC Wainwright restated a “buy” rating and set a $94.00 price objective on shares of Cytokinetics in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Cytokinetics currently has a consensus rating of “Moderate Buy” and an average target price of $79.33.

Institutional Investors Weigh In On Cytokinetics

A number of large investors have recently made changes to their positions in the stock. Maryland State Retirement & Pension System raised its stake in Cytokinetics by 0.8% in the 4th quarter. Maryland State Retirement & Pension System now owns 35,637 shares of the biopharmaceutical company’s stock worth $2,975,000 after acquiring an additional 278 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Cytokinetics by 9.6% in the fourth quarter. Quadrant Capital Group LLC now owns 3,268 shares of the biopharmaceutical company’s stock worth $273,000 after purchasing an additional 287 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Cytokinetics by 94.1% during the first quarter. Fifth Third Bancorp now owns 656 shares of the biopharmaceutical company’s stock worth $46,000 after purchasing an additional 318 shares during the period. Mutual of America Capital Management LLC boosted its position in Cytokinetics by 2.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 17,162 shares of the biopharmaceutical company’s stock valued at $1,433,000 after buying an additional 337 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Cytokinetics by 4.8% during the third quarter. PNC Financial Services Group Inc. now owns 7,373 shares of the biopharmaceutical company’s stock worth $217,000 after buying an additional 340 shares in the last quarter.

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.