Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells $96,120.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $48.06, for a total transaction of $96,120.00. Following the completion of the transaction, the executive vice president now directly owns 116,071 shares in the company, valued at $5,578,372.26. This trade represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 stock was sold at an average price of $49.32, for a total value 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 value 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 value of $366,168.00.
• On Tuesday, November 12th, Fady Ibraham Malik sold 6,342 shares of Cytokinetics stock. The shares were sold at an average price of $58.48, for a total value of $370,880.16.

Cytokinetics Stock Performance

NASDAQ:CYTK opened at $46.17 on Friday. The firm’s fifty day simple moving average is $48.50 and its 200-day simple moving average is $52.51. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The stock has a market cap of $5.45 billion, a PE ratio of -8.58 and a beta of 0.83. Cytokinetics, Incorporated has a fifty-two week low of $44.49 and a fifty-two week high of $81.36.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The business had revenue of $0.46 million for the quarter, compared to the consensus estimate of $1.21 million. During the same quarter in the prior year, the firm earned ($1.35) EPS. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. Analysts expect that Cytokinetics, Incorporated will post -5.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Stifel Nicolaus began coverage on shares of Cytokinetics in a research report on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price target for the company. Royal Bank of Canada upped their target price on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Needham & Company LLC reissued a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a report on Thursday. Mizuho upped their price objective on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research note on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Cytokinetics currently has an average rating of “Moderate Buy” and a consensus price target of $82.79.

Institutional Investors Weigh In On Cytokinetics

Several institutional investors have recently modified their holdings of the company. Van ECK Associates Corp raised its holdings in Cytokinetics by 21.3% during the third quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company’s stock worth $3,802,000 after purchasing an additional 12,565 shares during the last quarter. Westfield Capital Management Co. LP increased its position in shares of Cytokinetics by 38.9% in the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock valued at $64,040,000 after buying an additional 339,373 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Cytokinetics by 42.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock worth $69,769,000 after buying an additional 395,709 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Cytokinetics in the 3rd quarter worth about $558,000. Finally, Cetera Investment Advisers boosted its position in shares of Cytokinetics by 128.5% in the 2nd quarter. Cetera Investment Advisers now owns 27,320 shares of the biopharmaceutical company’s stock worth $1,480,000 after buying an additional 15,366 shares in the last quarter.

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.