Cytokinetics (NASDAQ:CYTK) EVP Fady Ibraham Malik Sells 4,500 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 4,500 shares of Cytokinetics stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $65.11, for a total value of $292,995.00. Following the sale, the executive vice president directly owned 153,902 shares in the company, valued at approximately $10,020,559.22. This trade represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, March 17th, Fady Ibraham Malik sold 12,033 shares of Cytokinetics stock. The stock was sold at an average price of $62.15, for a total value of $747,850.95.
• On Monday, March 9th, Fady Ibraham Malik sold 2,907 shares of Cytokinetics stock. The stock was sold at an average price of $60.72, for a total value of $176,513.04.

Cytokinetics Trading Up 0.4%

CYTK stock traded up $0.29 during trading on Wednesday, reaching $65.77. 1,755,975 shares of the stock were exchanged, compared to its average volume of 1,919,539. Cytokinetics, Incorporated has a twelve month low of $29.31 and a twelve month high of $70.98. The company has a market capitalization of $8.10 billion, a P/E ratio of -10.07 and a beta of 0.47. The stock has a 50 day simple moving average of $63.88 and a 200-day simple moving average of $62.43.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.02). The business had revenue of $17.76 million during the quarter, compared to the consensus estimate of $8.02 million. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned ($1.26) earnings per share. Equities analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Lisanti Capital Growth LLC bought a new position in shares of Cytokinetics in the third quarter valued at approximately $2,697,000. Sanders Morris Harris LLC bought a new position in shares of Cytokinetics in the third quarter valued at approximately $1,182,000. Hudson Bay Capital Management LP raised its stake in shares of Cytokinetics by 15.4% in the third quarter. Hudson Bay Capital Management LP now owns 182,131 shares of the biopharmaceutical company’s stock valued at $10,010,000 after acquiring an additional 24,345 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Cytokinetics in the third quarter valued at approximately $1,359,000. Finally, Moody Aldrich Partners LLC bought a new position in shares of Cytokinetics in the third quarter valued at approximately $4,532,000.

Analyst Ratings Changes

A number of research firms have weighed in on CYTK. UBS Group lifted their price objective on Cytokinetics from $61.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, March 6th. Leerink Partners reaffirmed an “outperform” rating on shares of Cytokinetics in a report on Tuesday, March 10th. B. Riley Financial lifted their price objective on Cytokinetics from $90.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Needham & Company LLC lifted their price objective on Cytokinetics from $84.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. lifted their price objective on Cytokinetics from $74.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $90.32.

About Cytokinetics

Cytokinetics, Inc is a late?stage biopharmaceutical company focused on the discovery and development of novel small?molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.