Cytokinetics (NASDAQ:CYTK) EVP Fady Ibraham Malik Sells 3,500 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 3,500 shares of the business’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $80.59, for a total value of $282,065.00. Following the transaction, the executive vice president owned 153,902 shares in the company, valued at approximately $12,402,962.18. This represents a 2.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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, July 7th, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $86.62, for a total transaction of $303,170.00.
• On Tuesday, June 23rd, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $79.51, for a total transaction of $278,285.00.
• On Tuesday, June 9th, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $67.98, for a total value of $237,930.00.
• On Tuesday, May 5th, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $77.37, for a total value of $270,795.00.

Cytokinetics Stock Down 1.5%

Shares of CYTK opened at $79.45 on Wednesday. The business’s 50 day moving average is $78.70 and its two-hundred day moving average is $70.11. Cytokinetics, Incorporated has a 52-week low of $32.89 and a 52-week high of $88.31. The firm has a market cap of $9.89 billion, a price-to-earnings ratio of -11.62 and a beta of 0.42.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) EPS for the quarter, meeting the consensus estimate of ($1.67). The business had revenue of $19.36 million for the quarter, compared to analysts’ expectations of $8.52 million. During the same quarter last year, the company posted ($1.36) earnings per share. The business’s quarterly revenue was up 1112.5% compared to the same quarter last year. On average, equities analysts expect that Cytokinetics, Incorporated will post -6.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CYTK shares. UBS Group raised shares of Cytokinetics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $69.00 to $115.00 in a report on Monday, June 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Cytokinetics in a research note on Friday, July 17th. Citigroup began coverage on shares of Cytokinetics in a research report on Monday, May 18th. They set a “buy” rating and a $99.00 price target on the stock. Wall Street Zen upgraded Cytokinetics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Stifel Nicolaus boosted their price objective on Cytokinetics from $98.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.90.

Hedge Funds Weigh In On Cytokinetics

A number of hedge funds have recently added to or reduced their stakes in CYTK. Tema ETFs LLC raised its holdings in shares of Cytokinetics by 174.6% during the second quarter. Tema ETFs LLC now owns 22,413 shares of the biopharmaceutical company’s stock worth $1,909,000 after purchasing an additional 14,251 shares during the period. E. Ohman J or Asset Management AB boosted its holdings in shares of Cytokinetics by 1.3% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 304,611 shares of the biopharmaceutical company’s stock valued at $25,950,000 after buying an additional 3,849 shares during the period. Handelsbanken Fonder AB boosted its holdings in shares of Cytokinetics by 63.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 405,000 shares of the biopharmaceutical company’s stock valued at $34,502,000 after buying an additional 157,700 shares during the period. GAMMA Investing LLC grew its position in shares of Cytokinetics by 12.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,487 shares of the biopharmaceutical company’s stock valued at $212,000 after buying an additional 266 shares during the last quarter. Finally, Seven Fleet Capital Management LP raised its stake in Cytokinetics by 492.8% during the first quarter. Seven Fleet Capital Management LP now owns 61,269 shares of the biopharmaceutical company’s stock worth $4,038,000 after acquiring an additional 50,934 shares during the period.

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.