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

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 15,547 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was 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 in the company, valued at approximately $8,923,716.16. The transaction 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, April 9th, Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock. The shares were 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 stock was sold at an average price of $67.56, for a total value of $2,202,726.24.

Cytokinetics Stock Performance

Shares of Cytokinetics stock traded up $0.23 during trading hours on Tuesday, reaching $65.28. The stock had a trading volume of 848,100 shares, compared to its average volume of 2,759,635. Cytokinetics, Incorporated has a 1 year low of $25.98 and a 1 year high of $110.25. The firm has a 50 day simple moving average of $68.29 and a two-hundred day simple moving average of $61.41.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Truist Financial restated a “buy” rating and set a $86.00 target price on shares of Cytokinetics in a research report on Monday, April 8th. Mizuho reduced their target price on Cytokinetics from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. HC Wainwright reissued a “buy” rating and set a $94.00 price target on shares of Cytokinetics in a research report on Wednesday, February 28th. Oppenheimer restated an “outperform” rating and issued a $107.00 price objective on shares of Cytokinetics in a research report on Monday, March 4th. Finally, UBS Group lowered Cytokinetics from a “buy” rating to a “neutral” rating and increased their price objective for the company from $61.00 to $92.00 in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Cytokinetics has a consensus rating of “Moderate Buy” and an average target price of $79.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp raised its position in shares of Cytokinetics by 94.1% in the 1st 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. China Universal Asset Management Co. Ltd. raised its holdings in Cytokinetics by 96.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,463 shares of the biopharmaceutical company’s stock valued at $73,000 after acquiring an additional 1,209 shares in the last quarter. GAMMA Investing LLC bought a new position in Cytokinetics during the 4th quarter valued at $80,000. Sage Rhino Capital LLC acquired a new position in Cytokinetics during the 4th quarter worth $204,000. Finally, Caprock Group LLC bought a new stake in shares of Cytokinetics in the 4th quarter worth about $216,000.

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.