Insider Selling: Cytokinetics (NASDAQ:CYTK) EVP Sells 3,500 Shares of Company Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Malik sold 3,500 shares of the stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $64.01, for a total transaction of $224,035.00. Following the completion of the sale, the executive vice president directly owned 153,902 shares in the company, valued at $9,851,267.02. This trade represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, October 6th, Fady Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $61.38, for a total value of $214,830.00.
• On Tuesday, September 22nd, Fady Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $68.29, for a total value of $239,015.00.
• 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 value 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.

Cytokinetics Trading Up 2.1%

Shares of CYTK stock traded up $1.30 on Tuesday, reaching $63.95. 1,050,323 shares of the company’s stock were exchanged, compared to its average volume of 2,126,460. The company’s fifty day simple moving average is $69.88 and its 200 day simple moving average is $73.25. Cytokinetics, Incorporated has a 52 week low of $54.30 and a 52 week high of $88.31. The stock has a market capitalization of $7.96 billion, a PE ratio of -8.86 and a beta of 0.41.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.50) EPS for the quarter, beating the consensus estimate of ($1.63) by $0.13. The business had revenue of $28.62 million during the quarter, compared to the consensus estimate of $17.59 million. The business’s revenue was down 57.1% compared to the same quarter last year. During the same period last year, the company earned ($1.12) EPS. As a group, sell-side analysts predict that Cytokinetics, Incorporated will post -5.97 earnings per share for the current fiscal year.

Key Headlines Impacting Cytokinetics

Here are the key news stories impacting Cytokinetics this week:

• Positive Sentiment: Health Canada approved MYQORZO for adults with symptomatic NYHA class II-III obstructive HCM. The once-daily oral therapy is designed to reduce cardiac contractility and left-ventricular outflow-tract obstruction, adding Canada to the drug’s growing list of approved markets. Health Canada MYQORZO approval
• Positive Sentiment: Coverage highlighted MYQORZO’s growing prescriptions, international launches and encouraging clinical data as potential drivers of broader market adoption and future revenue growth. MYQORZO growth analysis
• Positive Sentiment: HC Wainwright reaffirmed its Buy rating and assigned a $140 price target, signaling substantial perceived upside based on Cytokinetics’ pipeline and commercial prospects. HC Wainwright rating
• Neutral Sentiment: BofA Securities maintained a Neutral rating but reduced its price target to $81 from $85, reflecting a more cautious valuation view despite continued recognition of the company’s potential. BofA price target update
• Neutral Sentiment: Cytokinetics granted stock options covering 60,465 shares and 40,084 RSUs to 29 new employees. The awards support hiring and retention but may create modest future share dilution. Inducement grants announcement
• Negative Sentiment: Wall Street Zen downgraded CYTK to Sell, adding a bearish signal to the analyst mix. Wall Street Zen downgrade

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CYTK. V Square Quantitative Management LLC raised its position in shares of Cytokinetics by 71.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 458 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 191 shares during the last quarter. Nvwm LLC boosted its stake in Cytokinetics by 5.2% in the 3rd quarter. Nvwm LLC now owns 9,600 shares of the biopharmaceutical company’s stock worth $633,000 after purchasing an additional 477 shares in the last quarter. Sanders Morris Harris LLC purchased a new stake in Cytokinetics during the 3rd quarter worth approximately $1,549,000. Mirador Capital Partners LP grew its position in Cytokinetics by 3.2% during the 3rd quarter. Mirador Capital Partners LP now owns 208,896 shares of the biopharmaceutical company’s stock worth $13,768,000 after purchasing an additional 6,526 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Cytokinetics by 8.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,700 shares of the biopharmaceutical company’s stock worth $178,000 after purchasing an additional 213 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Citigroup reissued a “market outperform” rating on shares of Cytokinetics in a report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cytokinetics in a research report on Thursday. Truist Financial increased their target price on Cytokinetics from $106.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, August 10th. HC Wainwright reiterated a “buy” rating and issued a $140.00 price target on shares of Cytokinetics in a report on Monday. Finally, William Blair initiated coverage on Cytokinetics in a research report on Friday. They issued an “outperform” rating for the company. Nineteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.44.

Cytokinetics Company Profile

Cytokinetics, Incorporated is a biopharmaceutical company focused on discovering and developing medicines that target muscle function and contractility. The company applies muscle biology and sarcomere science to develop potential treatments for cardiovascular and neuromuscular diseases, including conditions in which impaired muscle performance contributes to disease progression.

Its leading investigational program is aficamten, a selective cardiac myosin inhibitor being developed for hypertrophic cardiomyopathy and other potential cardiovascular indications.