Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik Sells 2,000 Shares

Thursday, June 10, 2021 | MarketBeat

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 2,000 shares of the firm's stock in a transaction dated Thursday, June 10th. The shares were sold at an average price of $21.48, for a total transaction of $42,960.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

  • On Thursday, May 13th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were sold at an average price of $24.42, for a total transaction of $48,840.00.
  • On Thursday, April 8th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The stock was sold at an average price of $23.39, for a total transaction of $46,780.00.

NASDAQ:CYTK traded down $0.01 during trading hours on Thursday, hitting $21.52. 579,658 shares of the stock traded hands, compared to its average volume of 866,570. The company has a current ratio of 12.05, a quick ratio of 12.05 and a debt-to-equity ratio of 1.94. Cytokinetics, Incorporated has a 1 year low of $14.71 and a 1 year high of $30.14. The stock has a market capitalization of $1.54 billion, a P/E ratio of -10.73 and a beta of 1.38. The firm has a 50 day moving average of $23.98.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Thursday, May 6th. The biopharmaceutical company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.07). The company had revenue of $6.55 million for the quarter, compared to the consensus estimate of $7.83 million. Cytokinetics had a negative net margin of 230.55% and a negative return on equity of 213.63%. As a group, research analysts forecast that Cytokinetics, Incorporated will post -2.61 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in CYTK. PFM Health Sciences LP bought a new stake in shares of Cytokinetics during the fourth quarter valued at approximately $20,181,000. BlackRock Inc. raised its position in shares of Cytokinetics by 7.9% during the fourth quarter. BlackRock Inc. now owns 11,611,079 shares of the biopharmaceutical company's stock valued at $241,277,000 after buying an additional 851,128 shares during the last quarter. Logos Global Management LP bought a new stake in Cytokinetics in the first quarter worth $16,282,000. Caas Capital Management LP bought a new stake in Cytokinetics in the first quarter worth $15,616,000. Finally, Artal Group S.A. bought a new stake in Cytokinetics in the fourth quarter worth $10,390,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

CYTK has been the topic of a number of research reports. Morgan Stanley raised their price objective on shares of Cytokinetics from $24.00 to $35.00 and gave the stock an "overweight" rating in a report on Monday, April 19th. Barclays initiated coverage on shares of Cytokinetics in a report on Thursday, February 18th. They issued an "overweight" rating and a $28.00 price objective on the stock. Wolfe Research initiated coverage on shares of Cytokinetics in a report on Thursday, March 11th. They issued an "outperform" rating and a $50.00 price objective on the stock. Mizuho raised their price objective on shares of Cytokinetics from $26.00 to $36.00 and gave the stock a "buy" rating in a report on Tuesday, May 11th. Finally, Zacks Investment Research raised shares of Cytokinetics from a "sell" rating to a "hold" rating in a report on Wednesday, April 28th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Cytokinetics has a consensus rating of "Buy" and an average price target of $35.08.

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 is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.

Recommended Story: Overbought

Insider Buying and Selling by Quarter for Cytokinetics (NASDAQ:CYTK)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: What are benefits of a growth and income fund?


7 Stocks That Cathie Wood is Buying And You Should Too

If you’re an investor that likes to go with the “hot hand,” then they don’t get much hotter than Cathie Wood. The founder and CEO of ARK Investment Management delivered returns of over 100% in all five of her firm’s exchange-traded funds (ETFs) in 2020.

The names of her funds showcase some of the hottest emerging growth trends in the market: financial technology (fintech), genomic revolution, innovation, autonomous technology/robotics, and next generation internet.

As you would expect, these funds contain some of the hottest growth stocks from the past year. And in the aftermath of the tech selloff, Wood is not backing away. In fact, she’s doubling down on her strategy. It might not be exactly a matter of being greedy while others are fearful; perhaps more like being prepared while others are distracted.

But the other thing about Wood’s selections is that many of them are not obscure names. These are companies that were among the hottest names in 2020. Wood simply believes that they still have room to run. And that’s one reason you should consider making them a part of your portfolio.

In this special presentation, we’re giving you just seven of the stocks that Cathie Wood is buying or has bought recently. We’ve attempted to pick out at least one stock from each of the ARK ETFs. As with any investment decision, it’s important that you perform your own research before making a decision.

View the "7 Stocks That Cathie Wood is Buying And You Should Too".


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.