Insider Selling: Cytokinetics (NASDAQ:CYTK) EVP Sells $239,015.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK – Get Free Report) EVP Fady Malik sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $68.29, for a total transaction of $239,015.00. Following the transaction, the executive vice president owned 153,902 shares of the company’s stock, valued at approximately $10,509,967.58. This trade represents a 2.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

  • On Tuesday, September 8th, Fady Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $75.46, for a total transaction of $264,110.00.
  • On Tuesday, August 18th, Fady Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $75.82, for a total value of $265,370.00.
  • On Tuesday, July 21st, Fady Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $80.59, for a total value of $282,065.00.
  • On Tuesday, July 7th, Fady Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $86.62, for a total value of $303,170.00.

Cytokinetics Price Performance

Shares of CYTK stock opened at $65.66 on Friday. Cytokinetics, Incorporated has a 1-year low of $47.22 and a 1-year high of $88.31. The stock’s fifty day moving average price is $75.30 and its 200 day moving average price is $73.10. The company has a market cap of $8.17 billion, a price-to-earnings ratio of -9.09 and a beta of 0.36.

Cytokinetics (NASDAQ:CYTK – Get Free Report) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.63) by $0.13. The business had revenue of $28.62 million for the quarter, compared to analyst estimates of $17.59 million. The company’s quarterly revenue was down 57.1% on a year-over-year basis. During the same period in the prior year, the company earned ($1.12) earnings per share. As a group, equities research analysts anticipate that Cytokinetics, Incorporated will post -5.98 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on CYTK. Truist Financial lifted their target price on shares of Cytokinetics from $106.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. JPMorgan Chase & Co. raised their price target on shares of Cytokinetics from $97.00 to $103.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Royal Bank Of Canada lowered their price objective on shares of Cytokinetics from $117.00 to $112.00 and set an “outperform” rating for the company in a research note on Friday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cytokinetics in a report on Friday, July 17th. Finally, Citigroup reissued a “market outperform” rating on shares of Cytokinetics in a research report on Friday, August 7th. Eighteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Cytokinetics has an average rating of “Moderate Buy” and a consensus price target of $103.37.

Check Out Our Latest Research Report on Cytokinetics

Hedge Funds Weigh In On Cytokinetics

Institutional investors have recently bought and sold shares of the business. Tidal Investments LLC boosted its holdings in shares of Cytokinetics by 24.7% in the 2nd quarter. Tidal Investments LLC now owns 24,921 shares of the biopharmaceutical company’s stock valued at $2,123,000 after acquiring an additional 4,938 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Cytokinetics in the second quarter worth $774,000. Integrated Wealth Concepts LLC purchased a new position in shares of Cytokinetics during the second quarter worth $36,000. Squarepoint Ops LLC purchased a new position in shares of Cytokinetics during the second quarter worth $226,000. Finally, Nykredit A S acquired a new position in Cytokinetics during the second quarter valued at $444,000.

About Cytokinetics

(Get Free Report)

Cytokinetics, Incorporated is a biopharmaceutical company focused on discovering and developing medicines that target the biology of muscle function. The company applies expertise in muscle physiology and contractility to develop potential treatments for cardiovascular and neuromuscular diseases.

Its leading programs include aficamten, an investigational cardiac myosin inhibitor being developed for conditions involving abnormal heart-muscle contraction, including hypertrophic cardiomyopathy.

Recommended Stories

Insider Buying and Selling by Quarter for Cytokinetics (NASDAQ:CYTK)

Receive News & Ratings for Cytokinetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cytokinetics and related companies with MarketBeat.com's FREE daily email newsletter.