Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik Sells 2,000 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Fady Ibraham Malik sold 2,000 shares of the business's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $37.47, for a total transaction of $74,940.00. Following the transaction, the executive vice president directly owned 140,610 shares of the company's stock, valued at $5,268,656.70. The trade was a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, July 8th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The stock was sold at an average price of $33.76, for a total transaction of $67,520.00.

Cytokinetics Price Performance

Cytokinetics stock traded down $0.13 during trading hours on Friday, hitting $37.18. The company had a trading volume of 1,009,104 shares, compared to its average volume of 1,366,624. The firm has a market capitalization of $4.44 billion, a P/E ratio of -7.03 and a beta of 0.59. The firm's fifty day moving average is $33.86 and its 200-day moving average is $39.42. Cytokinetics, Incorporated has a fifty-two week low of $29.31 and a fifty-two week high of $61.38.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, topping the consensus estimate of ($1.41) by $0.05. The business had revenue of $1.60 million during the quarter, compared to the consensus estimate of $2.77 million. The business's revenue was up 89.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.33) earnings per share. Analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on CYTK shares. UBS Group dropped their target price on shares of Cytokinetics from $47.00 to $41.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. JPMorgan Chase & Co. dropped their target price on shares of Cytokinetics from $71.00 to $53.00 and set an "overweight" rating on the stock in a report on Monday, June 9th. JMP Securities restated a "market outperform" rating and set a $78.00 price target on shares of Cytokinetics in a report on Thursday, April 10th. Citigroup cut their price target on shares of Cytokinetics from $86.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Finally, Needham & Company LLC restated a "buy" rating and set a $72.00 price target on shares of Cytokinetics in a report on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Cytokinetics presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.92.

Hedge Funds Weigh In On Cytokinetics

Large investors have recently bought and sold shares of the stock. Fifth Third Bancorp raised its stake in Cytokinetics by 42.2% during the 1st quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company's stock valued at $39,000 after purchasing an additional 291 shares during the last quarter. Parallel Advisors LLC raised its stake in Cytokinetics by 500.5% during the 1st quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company's stock valued at $44,000 after purchasing an additional 916 shares during the last quarter. GAMMA Investing LLC raised its stake in Cytokinetics by 281.0% during the 1st quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company's stock valued at $45,000 after purchasing an additional 826 shares during the last quarter. UMB Bank n.a. raised its stake in Cytokinetics by 91.4% during the 1st quarter. UMB Bank n.a. now owns 1,156 shares of the biopharmaceutical company's stock valued at $46,000 after purchasing an additional 552 shares during the last quarter. Finally, Assetmark Inc. raised its stake in Cytokinetics by 11,510.0% during the 1st quarter. Assetmark Inc. now owns 1,161 shares of the biopharmaceutical company's stock valued at $47,000 after purchasing an additional 1,151 shares during the last quarter.

Cytokinetics Company Profile

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.