Cytokinetics (NASDAQ:CYTK) EVP Sells $264,110.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Malik sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $75.46, for a total value of $264,110.00. Following the transaction, the executive vice president directly owned 153,902 shares in the company, valued at approximately $11,613,444.92. This represents a 2.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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, 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 stock was 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 shares were sold at an average price of $86.62, for a total value of $303,170.00.
• On Tuesday, June 23rd, Fady Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $79.51, for a total value of $278,285.00.

Cytokinetics Stock Down 0.7%

CYTK stock opened at $73.62 on Friday. Cytokinetics, Incorporated has a twelve month low of $47.22 and a twelve month high of $88.31. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of -10.20 and a beta of 0.36. The business’s fifty day simple moving average is $78.30 and its two-hundred day simple moving average is $72.70.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.63) by $0.13. The company had revenue of $28.62 million for the quarter, compared to analysts’ expectations of $17.59 million. The firm’s revenue for the quarter was down 57.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.12) earnings per share. Research analysts expect that Cytokinetics, Incorporated will post -5.98 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Citizens Jmp raised their target price on shares of Cytokinetics from $105.00 to $110.00 and gave the stock a “market outperform” rating in a research report on Friday, August 7th. HC Wainwright reiterated a “buy” rating and issued a $140.00 price target on shares of Cytokinetics in a report on Monday, August 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Cytokinetics in a research note on Friday, July 17th. Royal Bank Of Canada reduced their price objective on Cytokinetics from $117.00 to $112.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. Finally, Morgan Stanley raised Cytokinetics from an “overweight” rating to a “buy” rating in a research report on Tuesday, September 1st. Eighteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $103.37.

Institutional Trading of Cytokinetics

Several hedge funds and other institutional investors have recently bought and sold shares of CYTK. California State Teachers Retirement System raised its holdings in Cytokinetics by 7,880.8% in the second quarter. California State Teachers Retirement System now owns 10,901,679 shares of the biopharmaceutical company’s stock worth $928,714,000 after purchasing an additional 10,765,080 shares in the last quarter. Woodline Partners LP boosted its holdings in shares of Cytokinetics by 676.1% in the 3rd quarter. Woodline Partners LP now owns 1,647,725 shares of the biopharmaceutical company’s stock valued at $90,559,000 after buying an additional 1,435,422 shares in the last quarter. Norges Bank bought a new stake in shares of Cytokinetics in the 4th quarter valued at about $51,281,000. Deep Track Capital LP grew its position in shares of Cytokinetics by 17.8% in the 3rd quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company’s stock worth $236,328,000 after buying an additional 650,000 shares during the last quarter. Finally, Siren L.L.C. purchased a new position in shares of Cytokinetics in the 1st quarter worth approximately $40,466,000.

Cytokinetics Company Profile

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.