Fady Ibraham Malik Sells 7,300 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $55.90, for a total transaction of $408,070.00. Following the completion of the transaction, the executive vice president now owns 131,004 shares in the company, valued at approximately $7,323,123.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, June 25th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $53.72, for a total transaction of $392,156.00.
• On Tuesday, June 11th, Fady Ibraham Malik sold 7,788 shares of Cytokinetics stock. The stock was sold at an average price of $53.04, for a total transaction of $413,075.52.
• On Tuesday, May 7th, Fady Ibraham Malik sold 15,547 shares of Cytokinetics stock. The stock was sold at an average price of $65.11, for a total transaction of $1,012,265.17.

Cytokinetics Price Performance

Cytokinetics stock opened at $56.30 on Friday. The stock has a market cap of $5.90 billion, a P/E ratio of -10.43 and a beta of 0.75. Cytokinetics, Incorporated has a 1 year low of $25.98 and a 1 year high of $110.25. The firm’s 50 day moving average price is $55.09 and its 200-day moving average price is $67.88.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.17). The company had revenue of $0.84 million for the quarter, compared to analysts’ expectations of $0.91 million. During the same period in the previous year, the business posted ($1.38) earnings per share. The business’s quarterly revenue was down 81.8% compared to the same quarter last year. As a group, equities analysts expect that Cytokinetics, Incorporated will post -4.5 EPS for the current year.

Analysts Set New Price Targets

CYTK has been the topic of several recent research reports. Bank of America lowered their price objective on shares of Cytokinetics from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, May 23rd. Needham & Company LLC decreased their target price on shares of Cytokinetics from $108.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. HC Wainwright restated a “buy” rating and set a $90.00 target price on shares of Cytokinetics in a research note on Monday, June 17th. Barclays decreased their target price on shares of Cytokinetics from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Finally, Oppenheimer decreased their target price on shares of Cytokinetics from $107.00 to $106.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Cytokinetics has an average rating of “Moderate Buy” and an average price target of $77.06.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CYTK. Fifth Third Bancorp grew its holdings in shares of Cytokinetics by 94.1% in the first quarter. Fifth Third Bancorp now owns 656 shares of the biopharmaceutical company’s stock valued at $46,000 after purchasing an additional 318 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of Cytokinetics in the first quarter valued at $74,000. GAMMA Investing LLC purchased a new position in shares of Cytokinetics in the fourth quarter valued at $80,000. Bessemer Group Inc. grew its holdings in shares of Cytokinetics by 25,100.0% in the first quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 1,255 shares in the last quarter. Finally, Sage Rhino Capital LLC purchased a new position in Cytokinetics during the fourth quarter worth $204,000.

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.