Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells 7,300 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $53.71, for a total transaction of $392,083.00. Following the sale, the executive vice president now directly owns 121,704 shares of the company’s stock, valued at approximately $6,536,721.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, July 23rd, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $57.02, for a total transaction of $416,246.00.
• On Tuesday, July 9th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $55.90, for a total transaction of $408,070.00.
• 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.

Cytokinetics Trading Down 4.3 %

Shares of NASDAQ:CYTK traded down $2.32 during midday trading on Wednesday, hitting $51.22. The stock had a trading volume of 1,474,596 shares, compared to its average volume of 2,464,935. The company has a market capitalization of $5.37 billion, a PE ratio of -9.49 and a beta of 0.75. The stock has a 50 day moving average price of $54.59 and a two-hundred day moving average price of $64.19. Cytokinetics, Incorporated has a 1 year low of $25.98 and a 1 year high of $110.25.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing the consensus estimate 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. The firm’s revenue for the quarter was down 81.8% on a year-over-year basis. During the same period last year, the business earned ($1.38) EPS. As a group, equities analysts expect that Cytokinetics, Incorporated will post -4.5 EPS for the current year.

Hedge Funds Weigh In On Cytokinetics

Institutional investors have recently modified their holdings of the company. J.Safra Asset Management Corp raised its position in shares of Cytokinetics by 642.3% in the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 456 shares during the last quarter. Fifth Third Bancorp raised its position 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 buying an additional 318 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Cytokinetics in the fourth quarter valued at approximately $80,000. EntryPoint Capital LLC acquired a new position in shares of Cytokinetics in the first quarter valued at approximately $74,000. Finally, Bessemer Group Inc. raised its position 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 buying an additional 1,255 shares during the last quarter.

Wall Street Analysts Forecast Growth

CYTK has been the topic of a number of research analyst reports. Needham & Company LLC dropped their price objective on shares of Cytokinetics from $108.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Oppenheimer dropped their price objective on shares of Cytokinetics from $107.00 to $106.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Truist Financial dropped their price objective on shares of Cytokinetics from $86.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. JMP Securities dropped their price objective on shares of Cytokinetics from $106.00 to $78.00 and set a “market outperform” rating on the stock in a report on Tuesday, May 28th. Finally, Barclays dropped their price objective on shares of Cytokinetics from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Cytokinetics currently has an average rating of “Moderate Buy” and a consensus target price of $77.06.

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.