Fady Ibraham Malik Sells 15,547 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 15,547 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $65.11, for a total value of $1,012,265.17. Following the completion of the sale, the executive vice president now owns 137,056 shares of the company’s stock, valued at approximately $8,923,716.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, April 9th, Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock. The stock was sold at an average price of $74.31, for a total value of $2,422,877.55.
• On Tuesday, March 5th, Fady Ibraham Malik sold 32,604 shares of Cytokinetics stock. The shares were sold at an average price of $67.56, for a total value of $2,202,726.24.

Cytokinetics Stock Performance

Shares of CYTK stock opened at $65.28 on Wednesday. Cytokinetics, Incorporated has a fifty-two week low of $25.98 and a fifty-two week high of $110.25. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of -11.98 and a beta of 0.72. The stock’s 50-day simple moving average is $67.97 and its 200-day simple moving average is $61.64.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The business had revenue of $1.70 million for the quarter, compared to the consensus estimate of $7.62 million. The company’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.45) earnings per share. As a group, equities analysts forecast that Cytokinetics, Incorporated will post -4.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on CYTK. Truist Financial reissued a “buy” rating and set a $86.00 target price on shares of Cytokinetics in a research report on Monday, April 8th. Oppenheimer reissued an “outperform” rating and issued a $107.00 price objective on shares of Cytokinetics in a research note on Monday, March 4th. Needham & Company LLC restated a “buy” rating and set a $108.00 target price on shares of Cytokinetics in a report on Tuesday, April 9th. Mizuho cut their price target on Cytokinetics from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, March 6th. Finally, UBS Group cut Cytokinetics from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $61.00 to $92.00 in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Cytokinetics presently has an average rating of “Moderate Buy” and an average target price of $79.33.

Hedge Funds Weigh In On Cytokinetics

Hedge funds have recently made changes to their positions in the company. TD Asset Management Inc grew its stake in Cytokinetics by 35.9% during the 3rd quarter. TD Asset Management Inc now owns 99,640 shares of the biopharmaceutical company’s stock valued at $2,935,000 after purchasing an additional 26,297 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Cytokinetics in the fourth quarter valued at approximately $46,308,000. Vanguard Group Inc. increased its holdings in Cytokinetics by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company’s stock worth $316,498,000 after buying an additional 472,595 shares during the period. HealthInvest Partners AB purchased a new position in Cytokinetics during the 4th quarter worth approximately $980,000. Finally, Legato Capital Management LLC acquired a new stake in Cytokinetics during the 4th quarter valued at approximately $1,305,000.

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.