Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells 2,000 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $33.76, for a total value of $67,520.00. Following the completion of the sale, the executive vice president directly owned 140,610 shares in the company, valued at $4,746,993.60. This represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 stock was sold at an average price of $38.11, for a total value of $76,220.00.

Cytokinetics Trading Up 2.7%

NASDAQ CYTK traded up $0.89 on Tuesday, reaching $34.25. 1,492,604 shares of the company were exchanged, compared to its average volume of 1,522,267. Cytokinetics, Incorporated has a fifty-two week low of $29.31 and a fifty-two week high of $61.38. The stock has a market capitalization of $4.09 billion, a P/E ratio of -6.47 and a beta of 0.59. The business's fifty day moving average price is $33.12 and its 200 day moving average price is $40.42.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, beating analysts' consensus estimates of ($1.41) by $0.05. The business had revenue of $1.60 million during the quarter, compared to analysts' expectations of $2.77 million. During the same quarter in the prior year, the firm earned ($1.33) EPS. Cytokinetics's revenue for the quarter was up 89.1% compared to the same quarter last year. Equities research analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Institutional Investors Weigh In On Cytokinetics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CYTK. Jones Financial Companies Lllp raised its holdings in shares of Cytokinetics by 189.8% in the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 374 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Cytokinetics by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,335,189 shares of the biopharmaceutical company's stock valued at $62,807,000 after purchasing an additional 13,798 shares during the period. Arizona State Retirement System lifted its position in Cytokinetics by 1.9% during the 4th quarter. Arizona State Retirement System now owns 32,366 shares of the biopharmaceutical company's stock worth $1,522,000 after acquiring an additional 600 shares during the period. Raymond James Financial Inc. acquired a new stake in Cytokinetics during the 4th quarter worth approximately $254,000. Finally, AlphaQuest LLC lifted its position in Cytokinetics by 113,500.0% during the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock worth $53,000 after acquiring an additional 1,135 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CYTK. Citigroup lowered their price target on Cytokinetics from $86.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. UBS Group lowered their price target on Cytokinetics from $47.00 to $41.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Bank of America lowered their price target on Cytokinetics from $62.00 to $54.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Mizuho lowered their price target on Cytokinetics from $103.00 to $84.00 and set an "outperform" rating on the stock in a research note on Thursday, May 29th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $72.00 price target on shares of Cytokinetics in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company 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.

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