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

Key Points

• Cytokinetics EVP Fady Ibraham Malik sold 3,500 shares at an average price of $80.59, generating $282,065. The transaction occurred under a pre-arranged Rule 10b5-1 plan, leaving him with 153,902 shares.
• Cytokinetics shares fell 0.6% to $80.13, but remain near their 12-month high of $88.31. The company reported quarterly revenue of $19.36 million, up 1,112.5% year over year, while posting an EPS loss of $1.67.
• Analysts maintain a “Moderate Buy” consensus rating, with a consensus price target of $99.90; several firms recently raised their targets to between $105 and $118.

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Fady Ibraham Malik sold 3,500 shares of the stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $80.59, for a total transaction of $282,065.00. Following the transaction, the executive vice president directly owned 153,902 shares of the company's stock, valued at approximately $12,402,962.18. This trade represents a 2.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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, July 7th, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $86.62, for a total transaction of $303,170.00.
• On Tuesday, June 23rd, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $79.51, for a total transaction of $278,285.00.
• On Tuesday, June 9th, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $67.98, for a total transaction of $237,930.00.
• On Tuesday, May 5th, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $77.37, for a total transaction of $270,795.00.

Cytokinetics Stock Down 0.6%

NASDAQ CYTK traded down $0.49 on Tuesday, reaching $80.13. The stock had a trading volume of 532,307 shares, compared to its average volume of 2,171,270. The stock has a fifty day moving average price of $78.64 and a two-hundred day moving average price of $70.01. Cytokinetics, Incorporated has a 12-month low of $32.89 and a 12-month high of $88.31. The firm has a market capitalization of $9.97 billion, a price-to-earnings ratio of -11.73 and a beta of 0.42.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) EPS for the quarter, hitting the consensus estimate of ($1.67). The firm had revenue of $19.36 million for the quarter, compared to analysts' expectations of $8.52 million. During the same quarter in the prior year, the business earned ($1.36) earnings per share. The company's quarterly revenue was up 1112.5% on a year-over-year basis. Sell-side analysts forecast that Cytokinetics, Incorporated will post -6.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CYTK. Bank of Montreal Can increased its holdings in shares of Cytokinetics by 1.2% in the 4th quarter. Bank of Montreal Can now owns 13,292 shares of the biopharmaceutical company's stock valued at $845,000 after acquiring an additional 160 shares during the last quarter. Kennedy Capital Management LLC lifted its stake in Cytokinetics by 1.2% during the fourth quarter. Kennedy Capital Management LLC now owns 13,183 shares of the biopharmaceutical company's stock worth $838,000 after purchasing an additional 162 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Cytokinetics by 46.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company's stock worth $35,000 after purchasing an additional 171 shares during the last quarter. Vident Advisory LLC boosted its holdings in Cytokinetics by 1.4% in the fourth quarter. Vident Advisory LLC now owns 16,455 shares of the biopharmaceutical company's stock valued at $1,046,000 after purchasing an additional 234 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in Cytokinetics by 6.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,723 shares of the biopharmaceutical company's stock valued at $237,000 after purchasing an additional 239 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CYTK shares. Wall Street Zen raised Cytokinetics from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Mizuho increased their price target on shares of Cytokinetics from $100.00 to $118.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 24th. Stifel Nicolaus lifted their price objective on shares of Cytokinetics from $98.00 to $108.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Royal Bank Of Canada decreased their price target on shares of Cytokinetics from $119.00 to $117.00 and set an "outperform" rating for the company in a research report on Tuesday, July 7th. Finally, Wells Fargo & Company boosted their price target on shares of Cytokinetics from $95.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $99.90.

About Cytokinetics

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company's most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.

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