Fady Ibraham Malik Sells 32,605 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $74.31, for a total transaction of $2,422,877.55. Following the transaction, the executive vice president now owns 138,567 shares in the company, valued at approximately $10,296,913.77. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Tuesday, March 5th, Fady Ibraham Malik sold 32,604 shares of Cytokinetics stock. The stock was sold at an average price of $67.56, for a total transaction of $2,202,726.24.
• On Tuesday, February 6th, Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock. The stock was sold at an average price of $79.30, for a total transaction of $2,585,576.50.

Cytokinetics Stock Up 1.2 %

NASDAQ CYTK traded up $0.86 on Tuesday, hitting $75.05. The stock had a trading volume of 1,224,444 shares, compared to its average volume of 3,249,140. Cytokinetics, Incorporated has a one year low of $25.98 and a one year high of $110.25. The stock has a market cap of $7.73 billion, a price-to-earnings ratio of -13.77 and a beta of 0.68. The company's 50-day moving average is $72.62 and its two-hundred day moving average is $56.68.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The business had revenue of $1.70 million for the quarter, compared to analysts' expectations of $7.62 million. The company's revenue was down 10.5% compared to the same quarter last year. During the same period last year, the business posted ($1.45) EPS. On average, sell-side analysts anticipate that Cytokinetics, Incorporated will post -4.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CYTK. Morgan Stanley reissued an "equal weight" rating and issued a $90.00 target price (up previously from $60.00) on shares of Cytokinetics in a research report on Friday, January 5th. Truist Financial reissued a "buy" rating and issued a $86.00 target price on shares of Cytokinetics in a research report on Monday. Raymond James boosted their target price on shares of Cytokinetics from $63.00 to $92.00 and gave the stock an "outperform" rating in a research report on Thursday, December 28th. Oppenheimer reissued an "outperform" rating and issued a $107.00 target price on shares of Cytokinetics in a research report on Monday, March 4th. Finally, HC Wainwright reissued a "buy" rating and issued a $94.00 target price on shares of Cytokinetics in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, Cytokinetics has an average rating of "Moderate Buy" and a consensus price target of $79.33.

Institutional Trading of Cytokinetics

A number of institutional investors have recently made changes to their positions in the stock. Belpointe Asset Management LLC boosted its holdings in Cytokinetics by 76.2% during the first quarter. Belpointe Asset Management LLC now owns 786 shares of the biopharmaceutical company's stock worth $28,000 after buying an additional 340 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Cytokinetics by 96.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,463 shares of the biopharmaceutical company's stock worth $73,000 after buying an additional 1,209 shares in the last quarter. Natixis bought a new stake in Cytokinetics during the fourth quarter worth approximately $73,000. Advisory Services Network LLC bought a new stake in Cytokinetics during the fourth quarter worth approximately $79,000. Finally, GAMMA Investing LLC bought a new stake in Cytokinetics during the fourth quarter worth approximately $80,000.

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.