Cytokinetics (NASDAQ:CYTK) EVP Fady Ibraham Malik Sells 2,105 Shares

Key Points

• Fady Ibraham Malik, executive vice president of Cytokinetics, sold 2,105 shares at an average price of $58.22, totaling $122,553.10, which decreased his ownership by 1.47%.
• Cytokinetics reported a substantial earnings surprise with an EPS of ($1.12), better than the expected ($1.34), alongside a revenue of $66.77 million for the quarter.
• Analysts have raised their price targets for Cytokinetics, with Barclays setting a new target of $82.00 and B. Riley adjusting to $80.00 with a "buy" rating.

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Fady Ibraham Malik sold 2,105 shares of the stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $58.22, for a total value of $122,553.10. Following the transaction, the executive vice president owned 140,610 shares in the company, valued at $8,186,314.20. This trade represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, October 7th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were sold at an average price of $60.56, for a total value of $121,120.00.
• On Tuesday, September 23rd, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were sold at an average price of $49.28, for a total value of $98,560.00.
• On Tuesday, September 9th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were sold at an average price of $51.29, for a total value of $102,580.00.
• On Tuesday, August 19th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were sold at an average price of $38.31, for a total value of $76,620.00.
• On Tuesday, August 5th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were sold at an average price of $36.34, for a total value of $72,680.00.

Cytokinetics Stock Performance

CYTK traded down $1.57 on Tuesday, hitting $57.78. 1,081,727 shares of the company were exchanged, compared to its average volume of 1,916,984. The firm has a fifty day simple moving average of $49.01 and a two-hundred day simple moving average of $39.94. Cytokinetics, Incorporated has a 12 month low of $29.31 and a 12 month high of $63.86. The stock has a market capitalization of $6.91 billion, a PE ratio of -11.33 and a beta of 0.67.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.34) by $0.22. The company had revenue of $66.77 million for the quarter, compared to the consensus estimate of $1.95 million. During the same quarter in the previous year, the business earned ($1.31) earnings per share. Cytokinetics's revenue was up 26727.3% compared to the same quarter last year. On average, equities analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CYTK shares. Barclays raised their price target on Cytokinetics from $71.00 to $82.00 and gave the stock an "overweight" rating in a research report on Monday, October 6th. B. Riley raised their price target on Cytokinetics from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Needham & Company LLC restated a "buy" rating and set a $72.00 price target on shares of Cytokinetics in a research report on Tuesday, September 2nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cytokinetics in a research report on Wednesday, October 8th. Finally, Bank of America lifted their price objective on Cytokinetics from $52.00 to $56.00 and gave the stock a "neutral" rating in a research report on Thursday, October 2nd. Thirteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $76.64.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CYTK. Norges Bank purchased a new position in shares of Cytokinetics in the 2nd quarter valued at approximately $39,122,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. lifted its stake in shares of Cytokinetics by 571.2% in the 2nd quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 1,082,563 shares of the biopharmaceutical company's stock valued at $35,768,000 after purchasing an additional 921,278 shares during the period. Paradigm Biocapital Advisors LP purchased a new position in shares of Cytokinetics in the 1st quarter valued at approximately $34,510,000. Jennison Associates LLC purchased a new position in shares of Cytokinetics in the 1st quarter valued at approximately $27,085,000. Finally, Frazier Life Sciences Management L.P. purchased a new position in shares of Cytokinetics in the 2nd quarter valued at approximately $18,328,000.

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.

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