Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells $91,960.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $45.98, for a total transaction of $91,960.00. Following the transaction, the executive vice president now owns 116,071 shares in the company, valued at approximately $5,336,944.58. The trade was a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, February 4th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The stock was sold at an average price of $48.06, for a total transaction of $96,120.00.
• On Tuesday, January 21st, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The stock was 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 transaction of $98,640.00.
• On Tuesday, December 10th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $50.64, for a total transaction 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 transaction of $366,168.00.

Cytokinetics Stock Up 10.2 %

CYTK stock opened at $51.12 on Friday. Cytokinetics, Incorporated has a twelve month low of $40.53 and a twelve month high of $81.36. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The company has a market capitalization of $6.03 billion, a P/E ratio of -9.50 and a beta of 0.83. The firm has a 50 day simple moving average of $47.26 and a 200-day simple moving average of $51.55.

Institutional Trading of Cytokinetics

A number of hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System grew its position in shares of Cytokinetics by 0.6% during the third quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the biopharmaceutical company’s stock worth $1,721,000 after buying an additional 200 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Cytokinetics by 189.8% during the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 374 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Cytokinetics by 2.9% during the third quarter. Nisa Investment Advisors LLC now owns 15,062 shares of the biopharmaceutical company’s stock worth $795,000 after purchasing an additional 430 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of Cytokinetics by 0.4% during the third quarter. MetLife Investment Management LLC now owns 123,308 shares of the biopharmaceutical company’s stock valued at $6,511,000 after purchasing an additional 538 shares in the last quarter. Finally, Retirement Systems of Alabama raised its stake in shares of Cytokinetics by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company’s stock valued at $6,750,000 after purchasing an additional 565 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms recently commented on CYTK. JMP Securities restated a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a report on Friday, February 7th. Stifel Nicolaus began coverage on shares of Cytokinetics in a report on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price target on the stock. Royal Bank of Canada raised their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. HC Wainwright restated a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a report on Tuesday, January 21st. Finally, Citigroup began coverage on shares of Cytokinetics in a report on Friday, February 7th. They issued a “buy” rating and a $86.00 price target on the stock. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cytokinetics currently has an average rating of “Moderate Buy” and a consensus price target of $82.00.

About Cytokinetics

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.