Cytokinetics (NASDAQ:CYTK) EVP Sells $76,620.00 in Stock

Key Points

• Fady Ibraham Malik, EVP of Cytokinetics, sold 2,000 shares of the company at an average price of $38.31, totaling $76,620, which decreased his ownership by 1.40%.
• Cytokinetics reported a quarterly EPS of ($1.12), surpassing estimates by $0.22, with significant year-over-year revenue growth of 26727.3%.
• Analysts currently have a consensus target price of $71.58 for Cytokinetics, with ratings ranging from "Strong Buy" to "Hold."

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $38.31, for a total transaction of $76,620.00. Following the completion of the transaction, the executive vice president owned 140,610 shares of the company's stock, valued at $5,386,769.10. This trade represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, August 5th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The stock was sold at an average price of $36.34, for a total value of $72,680.00.
• On Tuesday, July 22nd, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were sold at an average price of $37.47, for a total value of $74,940.00.
• On Tuesday, July 8th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were sold at an average price of $33.76, for a total value of $67,520.00.

Cytokinetics Stock Performance

Shares of NASDAQ:CYTK traded down $1.11 during trading hours on Tuesday, hitting $37.84. 2,188,903 shares of the company's stock traded hands, compared to its average volume of 1,753,305. The company's fifty day simple moving average is $35.44 and its two-hundred day simple moving average is $38.10. The company has a market cap of $4.53 billion, a price-to-earnings ratio of -7.42 and a beta of 0.64. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $59.39.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.12) EPS for the quarter, beating the consensus estimate of ($1.34) by $0.22. The business had revenue of $66.77 million for the quarter, compared to analyst estimates of $1.95 million. During the same period in the prior year, the company earned ($1.31) earnings per share. The firm's revenue for the quarter was up 26727.3% on a year-over-year basis. On average, analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Cytokinetics

A number of large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its holdings in Cytokinetics by 723.7% during the second quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company's stock valued at $25,000 after buying an additional 673 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Cytokinetics by 42.2% in the 1st quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company's stock valued at $39,000 after acquiring an additional 291 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Cytokinetics by 500.5% in the 1st quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company's stock worth $44,000 after purchasing an additional 916 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Cytokinetics by 281.0% in the 1st quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company's stock worth $45,000 after purchasing an additional 826 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in Cytokinetics by 91.4% during the first quarter. UMB Bank n.a. now owns 1,156 shares of the biopharmaceutical company's stock worth $46,000 after purchasing an additional 552 shares during the period.

Analysts Set New Price Targets

Several brokerages have recently commented on CYTK. Mizuho reduced their target price on Cytokinetics from $103.00 to $84.00 and set an "outperform" rating for the company in a report on Thursday, May 29th. Raymond James Financial assumed coverage on Cytokinetics in a report on Wednesday, July 30th. They set a "market perform" rating on the stock. Barclays dropped their price target on Cytokinetics from $55.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. HC Wainwright restated a "buy" rating and set a $120.00 price objective on shares of Cytokinetics in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. dropped their target price on Cytokinetics from $71.00 to $53.00 and set an "overweight" rating on the stock in a report on Monday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Cytokinetics presently has a consensus rating of "Moderate Buy" and a consensus target price of $71.58.

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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