Cytokinetics (NASDAQ:CYTK) EVP Sells $239,015.00 in Stock

Key Points

• Cytokinetics EVP Fady Malik sold 3,500 shares for $239,015 at an average price of $68.29 under a pre-arranged Rule 10b5-1 plan, reducing his direct stake by 2.22% to 153,902 shares.
• CYTK shares closed at $67.59, near the lower end of their 12-month range of $47.22 to $88.31. The company reported quarterly revenue of $28.62 million and an adjusted loss of $1.50 per share, exceeding analysts’ expectations despite a 57.1% year-over-year revenue decline.
• Analysts remain broadly positive, with 18 Buy ratings, one Hold and one Sell, producing a consensus “Moderate Buy” rating and an average price target of $103.37.

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Fady Malik sold 3,500 shares of the business's stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $68.29, for a total transaction of $239,015.00. Following the transaction, the executive vice president directly owned 153,902 shares of the company's stock, valued at approximately $10,509,967.58. This represents a 2.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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, September 8th, Fady Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $75.46, for a total transaction of $264,110.00.
• On Tuesday, August 18th, Fady Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $75.82, for a total transaction of $265,370.00.
• On Tuesday, July 21st, Fady Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $80.59, for a total transaction of $282,065.00.
• On Tuesday, July 7th, Fady 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.

Cytokinetics Stock Up 0.0%

Shares of CYTK stock traded up $0.03 on Tuesday, reaching $67.59. The company's stock had a trading volume of 2,388,541 shares, compared to its average volume of 2,132,248. Cytokinetics, Incorporated has a 12-month low of $47.22 and a 12-month high of $88.31. The company has a market capitalization of $8.41 billion, a P/E ratio of -9.36 and a beta of 0.36. The stock's 50 day simple moving average is $76.22 and its 200-day simple moving average is $73.00.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.63) by $0.13. The business had revenue of $28.62 million for the quarter, compared to the consensus estimate of $17.59 million. Cytokinetics's quarterly revenue was down 57.1% on a year-over-year basis. During the same period in the prior year, the business posted ($1.12) EPS. Research analysts expect that Cytokinetics, Incorporated will post -5.98 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CYTK. Geode Capital Management LLC lifted its holdings in shares of Cytokinetics by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,056,017 shares of the biopharmaceutical company's stock worth $194,214,000 after acquiring an additional 15,815 shares during the last quarter. Principal Financial Group Inc. raised its position in Cytokinetics by 11.9% in the 1st quarter. Principal Financial Group Inc. now owns 1,093,485 shares of the biopharmaceutical company's stock worth $72,072,000 after purchasing an additional 116,593 shares during the period. Frazier Life Sciences Management L.P. lifted its stake in Cytokinetics by 5.0% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 934,642 shares of the biopharmaceutical company's stock worth $59,387,000 after purchasing an additional 44,197 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Cytokinetics by 8.0% in the fourth quarter. Fisher Asset Management LLC now owns 822,885 shares of the biopharmaceutical company's stock worth $52,286,000 after purchasing an additional 61,298 shares during the last quarter. Finally, Norges Bank purchased a new stake in Cytokinetics during the fourth quarter valued at about $51,281,000.

Analyst Ratings Changes

CYTK has been the topic of several research analyst reports. Cantor Fitzgerald restated an "overweight" rating on shares of Cytokinetics in a research report on Friday, September 11th. JPMorgan Chase & Co. lifted their target price on shares of Cytokinetics from $97.00 to $103.00 and gave the company an "overweight" rating in a research report on Thursday, August 13th. UBS Group raised shares of Cytokinetics from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $69.00 to $115.00 in a research note on Monday, June 29th. Mizuho increased their price target on shares of Cytokinetics from $100.00 to $118.00 and gave the stock an "outperform" rating in a report on Wednesday, June 24th. Finally, Needham & Company LLC raised their price objective on shares of Cytokinetics from $102.00 to $112.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Eighteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $103.37.

About Cytokinetics

Cytokinetics, Incorporated is a biopharmaceutical company focused on discovering and developing medicines that target the biology of muscle function. The company applies expertise in muscle physiology and contractility to develop potential treatments for cardiovascular and neuromuscular diseases.

Its leading programs include aficamten, an investigational cardiac myosin inhibitor being developed for conditions involving abnormal heart-muscle contraction, including hypertrophic cardiomyopathy.

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