Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells 2,000 Shares of 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 company's stock in a transaction dated Tuesday, August 5th. The shares were 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 of the company's stock, valued at approximately $5,109,767.40. This represents a 1.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $37.47, for a total transaction 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 transaction of $67,520.00.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK traded down $1.14 during midday trading on Friday, reaching $34.11. The company had a trading volume of 2,104,845 shares, compared to its average volume of 1,250,101. The stock has a market capitalization of $4.07 billion, a P/E ratio of -6.69 and a beta of 0.64. The stock's fifty day moving average price is $34.88 and its 200-day moving average price is $38.76. Cytokinetics, Incorporated has a one year low of $29.31 and a one year 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) earnings per share for the quarter, topping the consensus estimate of ($1.34) by $0.22. The company had revenue of $66.77 million during the quarter, compared to the consensus estimate of $1.95 million. During the same period in the previous year, the firm posted ($1.31) EPS. Cytokinetics's revenue for the quarter was up 26727.3% on a year-over-year basis. As a group, sell-side analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Fifth Third Bancorp raised its position in shares of Cytokinetics by 42.2% during 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. Hantz Financial Services Inc. raised its holdings in shares of Cytokinetics by 2,872.7% during the second quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company's stock worth $43,000 after purchasing an additional 1,264 shares during the period. Parallel Advisors LLC lifted its position in shares of 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 buying an additional 916 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of 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 buying an additional 826 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Cytokinetics by 91.4% in 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 period.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Cantor Fitzgerald raised Cytokinetics to a "strong-buy" rating in a research report on Tuesday, May 13th. Bank of America cut their price objective on Cytokinetics from $62.00 to $54.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Barclays reduced their price objective on Cytokinetics from $55.00 to $53.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Royal Bank Of Canada dropped their target price on shares of Cytokinetics from $82.00 to $80.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Cytokinetics from $71.00 to $53.00 and set an "overweight" rating on the stock in a research report on Monday, June 9th. Four 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $70.69.

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.