Fady Ibraham Malik Sells 3,500 Shares of Cytokinetics (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 3,500 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $67.98, for a total transaction of $237,930.00. Following the completion of the transaction, the executive vice president directly owned 153,902 shares of the company’s stock, valued at approximately $10,462,257.96. This trade represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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, May 5th, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $77.37, for a total transaction of $270,795.00.
• On Tuesday, April 21st, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $65.69, for a total transaction of $229,915.00.
• On Tuesday, April 7th, Fady Ibraham Malik sold 4,500 shares of Cytokinetics stock. The stock was sold at an average price of $65.11, for a total transaction of $292,995.00.
• On Tuesday, March 17th, Fady Ibraham Malik sold 12,033 shares of Cytokinetics stock. The stock was sold at an average price of $62.15, for a total transaction of $747,850.95.

Cytokinetics Stock Down 2.0%

NASDAQ CYTK opened at $67.07 on Thursday. The company has a fifty day moving average of $70.26 and a two-hundred day moving average of $66.01. The firm has a market capitalization of $8.35 billion, a price-to-earnings ratio of -9.81 and a beta of 0.42. Cytokinetics, Incorporated has a 52 week low of $31.99 and a 52 week high of $80.20.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) EPS for the quarter, hitting the consensus estimate of ($1.67). The firm had revenue of $19.36 million for the quarter, compared to analysts’ expectations of $8.52 million. The firm’s quarterly revenue was up 1112.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.36) earnings per share. Equities research analysts anticipate that Cytokinetics, Incorporated will post -6.29 EPS for the current year.

Wall Street Analyst Weigh In

CYTK has been the subject of several recent analyst reports. Barclays lifted their price objective on shares of Cytokinetics from $87.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, April 6th. Truist Financial set a $106.00 price objective on shares of Cytokinetics in a research note on Tuesday, May 5th. Morgan Stanley lifted their price objective on shares of Cytokinetics from $90.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. HC Wainwright lifted their target price on Cytokinetics from $136.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, Wells Fargo & Company lifted their target price on Cytokinetics from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $99.30.

Institutional Trading of Cytokinetics

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can raised its position in Cytokinetics by 1.2% during the 4th quarter. Bank of Montreal Can now owns 13,292 shares of the biopharmaceutical company’s stock valued at $845,000 after purchasing an additional 160 shares in the last quarter. Kennedy Capital Management LLC raised its position in Cytokinetics by 1.2% during the 4th quarter. Kennedy Capital Management LLC now owns 13,183 shares of the biopharmaceutical company’s stock valued at $838,000 after purchasing an additional 162 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Cytokinetics by 46.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 171 shares in the last quarter. Vident Advisory LLC raised its holdings in shares of Cytokinetics by 1.4% in the fourth quarter. Vident Advisory LLC now owns 16,455 shares of the biopharmaceutical company’s stock valued at $1,046,000 after acquiring an additional 234 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Cytokinetics by 6.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,723 shares of the biopharmaceutical company’s stock valued at $237,000 after acquiring an additional 239 shares in the last quarter.

Cytokinetics Company Profile

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.