Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells $72,680.00 in Stock

Key Points

• Fady Ibraham Malik, Executive Vice President of Cytokinetics, recently sold 2,000 shares of the company at an average price of $36.34, decreasing his holdings by 1.40% to a total of 140,610 shares.
• Cytokinetics shares are currently trading at $36.16, reflecting a 1.1% decline in value, with a 12-month trading range between $29.31 and $59.39.
• Despite beating EPS estimates for the last quarter, Cytokinetics reported $1.60 million in revenue, which fell below analyst expectations of $2.77 million.

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Fady Ibraham Malik sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $36.34, for a total transaction of $72,680.00. Following the transaction, the executive vice president directly owned 140,610 shares in the company, valued at approximately $5,109,767.40. This trade represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• 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 stock was sold at an average price of $33.76, for a total value of $67,520.00.

Cytokinetics Price Performance

NASDAQ CYTK traded down $0.84 during trading on Friday, hitting $34.41. The company's stock had a trading volume of 1,205,376 shares, compared to its average volume of 1,740,199. Cytokinetics, Incorporated has a fifty-two week low of $29.31 and a fifty-two week high of $59.39. The company has a market cap of $4.11 billion, a PE ratio of -6.50 and a beta of 0.64. The business's 50 day simple moving average is $34.82 and its 200-day simple moving average is $38.84.

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, topping analysts' consensus estimates of ($1.34) by $0.22. The company had revenue of $66.77 million during the quarter, compared to analyst estimates of $1.95 million. During the same quarter last year, the business earned ($1.31) earnings per share. The firm's revenue for the quarter was up 26727.3% on a year-over-year basis. Analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CYTK. Barclays lowered their price objective on shares of Cytokinetics from $55.00 to $53.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. HC Wainwright reiterated a "buy" rating and set a $120.00 price objective on shares of Cytokinetics in a research note on Monday, April 21st. Royal Bank Of Canada reduced their price objective on shares of Cytokinetics from $82.00 to $80.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. 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 research report on Monday, June 9th. Finally, Needham & Company LLC restated a "buy" rating and set a $72.00 price objective on shares of Cytokinetics in a research note on Wednesday, May 14th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $70.92.

Institutional Investors Weigh In On Cytokinetics

A number of large investors have recently made changes to their positions in CYTK. Fifth Third Bancorp grew its stake in 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 during the period. State of Michigan Retirement System lifted its holdings in Cytokinetics by 1.1% during the first quarter. State of Michigan Retirement System now owns 28,200 shares of the biopharmaceutical company's stock valued at $1,133,000 after purchasing an additional 300 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of Cytokinetics by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 33,100 shares of the biopharmaceutical company's stock valued at $1,330,000 after purchasing an additional 300 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Cytokinetics by 1.1% during the second quarter. Teacher Retirement System of Texas now owns 30,514 shares of the biopharmaceutical company's stock worth $1,008,000 after purchasing an additional 341 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of Cytokinetics by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 13,820 shares of the biopharmaceutical company's stock worth $555,000 after purchasing an additional 365 shares in the last quarter.

About Cytokinetics

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.