Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik Sells 2,000 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $45.98, for a total transaction of $91,960.00. Following the transaction, the executive vice president now owns 116,071 shares in the company, valued at $5,336,944.58. The trade was a 1.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Tuesday, February 4th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were sold at an average price of $48.06, for a total transaction of $96,120.00.
• On Tuesday, January 21st, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were sold at an average price of $45.92, for a total transaction of $91,840.00.
• On Tuesday, January 7th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were sold at an average price of $49.32, for a total transaction of $98,640.00.
• On Tuesday, December 10th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The shares were sold at an average price of $50.64, for a total transaction of $369,672.00.
• On Tuesday, November 26th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $50.16, for a total transaction of $366,168.00.

Cytokinetics Price Performance

Shares of NASDAQ CYTK opened at $45.39 on Wednesday. The firm has a 50-day simple moving average of $47.33 and a 200-day simple moving average of $51.59. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of -8.44 and a beta of 0.83. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 52 week low of $40.53 and a 52 week high of $81.36.

Institutional Investors Weigh In On Cytokinetics

A number of hedge funds have recently modified their holdings of the business. Louisiana State Employees Retirement System increased its position in Cytokinetics by 0.6% during the third quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the biopharmaceutical company’s stock worth $1,721,000 after purchasing an additional 200 shares during the last quarter. Jones Financial Companies Lllp increased its position in Cytokinetics by 189.8% during the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 374 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Cytokinetics by 2.9% during the third quarter. Nisa Investment Advisors LLC now owns 15,062 shares of the biopharmaceutical company’s stock worth $795,000 after purchasing an additional 430 shares during the last quarter. MetLife Investment Management LLC increased its position in Cytokinetics by 0.4% during the third quarter. MetLife Investment Management LLC now owns 123,308 shares of the biopharmaceutical company’s stock worth $6,511,000 after purchasing an additional 538 shares during the last quarter. Finally, Retirement Systems of Alabama increased its position in Cytokinetics by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company’s stock worth $6,750,000 after purchasing an additional 565 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CYTK shares. HC Wainwright reissued a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a report on Tuesday, January 21st. Citigroup started coverage on shares of Cytokinetics in a report on Friday, February 7th. They set a “buy” rating and a $86.00 price target on the stock. Mizuho increased their price target on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Royal Bank of Canada increased their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Finally, Evercore ISI raised shares of Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cytokinetics currently has an average rating of “Moderate Buy” and a consensus target price of $82.00.

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.