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

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Malik sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $62.93, for a total value of $220,255.00. Following the completion of the sale, the executive vice president owned 153,902 shares of the company’s stock, valued at approximately $9,685,052.86. This trade represents a 2.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 20th, Fady Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $64.01, for a total value of $224,035.00.
• On Tuesday, October 6th, Fady Malik sold 3,500 shares of Cytokinetics stock. The stock was 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 shares were sold at an average price of $75.82, for a total value of $265,370.00.

Cytokinetics Stock Performance

CYTK opened at $62.31 on Wednesday. Cytokinetics, Incorporated has a 52-week low of $58.05 and a 52-week high of $88.31. The firm has a market cap of $7.75 billion, a P/E ratio of -8.63 and a beta of 0.45. The business’s fifty day moving average is $66.91 and its 200-day moving average is $70.05.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.50) EPS for the quarter, beating analysts’ consensus estimates of ($1.63) by $0.13. The company had revenue of $28.62 million during the quarter, compared to analyst estimates 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 last year, the firm earned ($1.12) EPS. On average, research analysts predict that Cytokinetics, Incorporated will post -5.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on CYTK. William Blair started coverage on shares of Cytokinetics in a report on Friday, October 16th. They issued an “outperform” rating on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research report on Friday, September 11th. UBS Group reissued a “buy” rating and issued a $104.00 price objective on shares of Cytokinetics in a research note on Wednesday, October 14th. HC Wainwright reissued a “buy” rating and issued a $140.00 price objective on shares of Cytokinetics in a research note on Monday, October 19th. Finally, Wall Street Zen downgraded shares of Cytokinetics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 20th. Nineteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.44.

Institutional Investors Weigh In On Cytokinetics

A number of hedge funds have recently made changes to their positions in CYTK. Siren L.L.C. bought a new position in shares of Cytokinetics in the 1st quarter valued at $40,466,000. Hsbc Holdings PLC boosted its holdings in shares of Cytokinetics by 5,906.5% during the 1st quarter. Hsbc Holdings PLC now owns 221,999 shares of the biopharmaceutical company’s stock valued at $14,632,000 after acquiring an additional 218,303 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Cytokinetics by 18.4% during the 3rd quarter. Pictet Asset Management Holding SA now owns 1,374,523 shares of the biopharmaceutical company’s stock valued at $90,569,000 after acquiring an additional 214,060 shares in the last quarter. Emerald Advisers LLC bought a new stake in Cytokinetics during the 1st quarter worth $13,104,000. Finally, Candriam S.C.A. grew its position in Cytokinetics by 128.6% during the 1st quarter. Candriam S.C.A. now owns 335,208 shares of the biopharmaceutical company’s stock worth $22,094,000 after acquiring an additional 188,577 shares during the last quarter.

About Cytokinetics

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.