Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells $67,520.00 in Stock

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 8th. The shares were sold at an average price of $33.76, for a total value of $67,520.00. Following the completion of the transaction, the executive vice president directly owned 140,610 shares of the company's stock, valued at approximately $4,746,993.60. This trade represents a 1.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, April 22nd, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were sold at an average price of $38.11, for a total value of $76,220.00.

Cytokinetics Stock Performance

Shares of Cytokinetics stock traded up $0.42 during trading on Friday, hitting $37.01. 960,448 shares of the stock traded hands, compared to its average volume of 1,528,648. The stock has a market cap of $4.42 billion, a P/E ratio of -7.00 and a beta of 0.59. The company has a fifty day moving average price of $32.73 and a two-hundred day moving average price of $40.19. Cytokinetics, Incorporated has a twelve month low of $29.31 and a twelve month high of $61.38.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, beating 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. During the same quarter in the previous year, the firm posted ($1.33) EPS. The company's revenue for the quarter was up 89.1% compared to the same quarter last year. On average, equities research analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Cytokinetics

Institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp lifted its position in Cytokinetics by 189.8% during the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 374 shares during the period. Fifth Third Bancorp grew its holdings in Cytokinetics by 42.2% during the first quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company's stock worth $39,000 after buying an additional 291 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Cytokinetics by 500.5% in the first quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company's stock valued at $44,000 after acquiring an additional 916 shares in the last quarter. GAMMA Investing LLC raised its position in Cytokinetics by 281.0% in the first quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company's stock worth $45,000 after acquiring an additional 826 shares during the period. Finally, UMB Bank n.a. lifted its position in shares of 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 buying an additional 552 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CYTK. Barclays reduced their price objective on Cytokinetics from $55.00 to $53.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Mizuho lowered their price objective on Cytokinetics from $103.00 to $84.00 and set an "outperform" rating for the company in a research report on Thursday, May 29th. Royal Bank Of Canada cut their price objective on shares of Cytokinetics from $82.00 to $80.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. 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 price target on shares of Cytokinetics from $71.00 to $53.00 and set an "overweight" rating for the company in a research report on Monday, June 9th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $70.92.

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.