Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells 7,300 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $54.19, for a total transaction of $395,587.00. Following the sale, the executive vice president now directly owns 116,920 shares in the company, valued at $6,335,894.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Tuesday, October 1st, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The shares were sold at an average price of $52.10, for a total transaction of $380,330.00.
• On Tuesday, September 3rd, Fady Ibraham Malik sold 7,384 shares of Cytokinetics stock. The stock was sold at an average price of $57.01, for a total value of $420,961.84.
• On Tuesday, August 6th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $53.71, for a total value of $392,083.00.
• On Tuesday, July 23rd, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The shares were sold at an average price of $57.02, for a total value of $416,246.00.

Cytokinetics Trading Down 0.2 %

Shares of NASDAQ:CYTK traded down $0.10 during midday trading on Wednesday, hitting $55.28. 807,709 shares of the stock traded hands, compared to its average volume of 2,160,769. Cytokinetics, Incorporated has a one year low of $30.37 and a one year high of $110.25. The company has a quick ratio of 10.39, a current ratio of 10.39 and a debt-to-equity ratio of 5.93. The business’s 50 day moving average is $55.13 and its two-hundred day moving average is $57.60. The stock has a market capitalization of $5.80 billion, a PE ratio of -10.24 and a beta of 0.77.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.25). The company had revenue of $0.25 million during the quarter, compared to the consensus estimate of $7.61 million. The firm’s revenue for the quarter was down 71.3% compared to the same quarter last year. During the same period last year, the firm earned ($1.34) earnings per share. As a group, research analysts forecast that Cytokinetics, Incorporated will post -5.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CYTK shares. JPMorgan Chase & Co. raised their target price on shares of Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research report on Monday, September 9th. JMP Securities reiterated a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research report on Wednesday, September 4th. The Goldman Sachs Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $60.00 in a research report on Tuesday, August 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Cytokinetics currently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Institutional Investors Weigh In On Cytokinetics

Large investors have recently modified their holdings of the stock. J.Safra Asset Management Corp raised its stake in Cytokinetics by 642.3% in the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 456 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Cytokinetics by 65.6% during the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 238 shares during the period. EntryPoint Capital LLC bought a new position in shares of Cytokinetics in the 1st quarter worth approximately $74,000. Bessemer Group Inc. lifted its stake in shares of Cytokinetics by 25,100.0% in the 1st quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 1,255 shares during the period. Finally, Quarry LP boosted its position in shares of Cytokinetics by 233.3% during the second quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock valued at $108,000 after purchasing an additional 1,400 shares in the last quarter.

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.