Cytokinetics (NASDAQ:CYTK) EVP Sells $146,190.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 2,200 shares of Cytokinetics stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $66.45, for a total transaction of $146,190.00. Following the sale, the executive vice president owned 140,610 shares of the company’s stock, valued at $9,343,534.50. The trade was a 1.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, November 4th, Fady Ibraham Malik sold 2,295 shares of Cytokinetics stock. The stock was sold at an average price of $59.55, for a total transaction of $136,667.25.
• On Tuesday, October 21st, Fady Ibraham Malik sold 2,105 shares of Cytokinetics stock. The shares were sold at an average price of $58.22, for a total transaction of $122,553.10.
• On Tuesday, October 7th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were sold at an average price of $60.56, for a total value of $121,120.00.
• On Tuesday, September 23rd, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The stock was sold at an average price of $49.28, for a total value of $98,560.00.
• On Tuesday, September 9th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were sold at an average price of $51.29, for a total value of $102,580.00.

Cytokinetics Price Performance

Shares of CYTK stock traded down $0.79 during mid-day trading on Tuesday, hitting $66.16. The stock had a trading volume of 1,294,637 shares, compared to its average volume of 1,916,646. Cytokinetics, Incorporated has a 12-month low of $29.31 and a 12-month high of $67.98. The firm’s 50-day moving average is $57.34 and its two-hundred day moving average is $43.15. The firm has a market capitalization of $8.09 billion, a P/E ratio of -12.97 and a beta of 0.58.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, beating the consensus estimate of ($1.59) by $0.05. The firm had revenue of $1.94 million during the quarter, compared to the consensus estimate of $6.05 million. During the same quarter in the previous year, the firm earned ($1.36) earnings per share. The business’s revenue was up 318.1% compared to the same quarter last year. Analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Hedge Funds Weigh In On Cytokinetics

Several institutional investors and hedge funds have recently bought and sold shares of CYTK. EverSource Wealth Advisors LLC lifted its holdings in shares of Cytokinetics by 723.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 673 shares during the last quarter. Quarry LP acquired a new position in Cytokinetics during the 3rd quarter valued at about $30,000. Advisory Services Network LLC purchased a new stake in Cytokinetics in the third quarter valued at about $32,000. Johnson Financial Group Inc. acquired a new stake in Cytokinetics in the third quarter worth about $40,000. Finally, Hantz Financial Services Inc. boosted its holdings in Cytokinetics by 2,872.7% in the second quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company’s stock worth $43,000 after acquiring an additional 1,264 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CYTK shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research report on Tuesday, October 21st. B. Riley reissued a “buy” rating and issued a $90.00 price objective (up previously from $80.00) on shares of Cytokinetics in a research note on Monday, November 10th. Bank of America upped their target price on Cytokinetics from $52.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, October 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a report on Tuesday, September 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cytokinetics in a research report on Wednesday, October 8th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Cytokinetics has an average rating of “Moderate Buy” and a consensus price target of $77.86.

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.