Cytokinetics (NASDAQ:CYTK) EVP Sells $220,255.00 in Stock

by · The Markets Daily

Cytokinetics, Incorporated (NASDAQ:CYTK – Get Free Report) EVP Fady Malik sold 3,500 shares of the stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $62.93, for a total transaction of $220,255.00. Following the sale, the executive vice president owned 153,902 shares of the company’s stock, valued at approximately $9,685,052.86. This represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

  • On Tuesday, October 20th, Fady Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $64.01, for a total transaction of $224,035.00.
  • On Tuesday, October 6th, Fady Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $61.38, for a total transaction of $214,830.00.
  • On Tuesday, September 22nd, Fady Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $68.29, for a total transaction of $239,015.00.
  • On Tuesday, September 8th, Fady Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $75.46, for a total transaction of $264,110.00.
  • On Tuesday, August 18th, Fady Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $75.82, for a total transaction of $265,370.00.

Cytokinetics Stock Up 0.5%

Shares of CYTK traded up $0.28 during mid-day trading on Tuesday, hitting $62.31. 1,699,286 shares of the company traded hands, compared to its average volume of 2,088,597. The company has a market capitalization of $7.75 billion, a PE ratio of -8.63 and a beta of 0.41. Cytokinetics, Incorporated has a 1-year low of $58.05 and a 1-year high of $88.31. The business has a 50 day moving average of $67.21 and a 200 day moving average of $70.06.

Cytokinetics (NASDAQ:CYTK – Get Free Report) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.63) by $0.13. The business had revenue of $28.62 million for the quarter, compared to analysts’ expectations of $17.59 million. The company’s quarterly revenue was down 57.1% on a year-over-year basis. During the same quarter last year, the business earned ($1.12) EPS. As a group, research analysts expect that Cytokinetics, Incorporated will post -5.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Cytokinetics

Large investors have recently modified their holdings of the stock. Physician Wealth Advisors Inc. increased its position in Cytokinetics by 810.2% in the third quarter. Physician Wealth Advisors Inc. now owns 446 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 397 shares during the period. V Square Quantitative Management LLC lifted its position in Cytokinetics by 71.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 458 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 191 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Cytokinetics in the 2nd quarter valued at about $36,000. Rockefeller Capital Management L.P. boosted its holdings in shares of Cytokinetics by 842.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 641 shares of the biopharmaceutical company’s stock worth $41,000 after buying an additional 573 shares during the period. Finally, Manchester Capital Management LLC acquired a new stake in Cytokinetics in the 3rd quarter worth about $43,000.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CYTK shares. Wall Street Zen downgraded shares of Cytokinetics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 20th. Citigroup reaffirmed a “market outperform” rating on shares of Cytokinetics in a report on Friday, August 7th. HC Wainwright reissued a “buy” rating and set a $140.00 target price on shares of Cytokinetics in a report on Monday, October 19th. UBS Group reiterated a “buy” rating and issued a $104.00 price objective on shares of Cytokinetics in a research report on Wednesday, October 14th. Finally, Truist Financial increased their target price on shares of Cytokinetics from $106.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Nineteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $105.44.

View Our Latest Stock Report on Cytokinetics

Cytokinetics Company Profile

(Get Free Report)

Cytokinetics, Incorporated is a biopharmaceutical company focused on discovering and developing medicines that target muscle function and contractility. The company applies muscle biology and sarcomere science to develop potential treatments for cardiovascular and neuromuscular diseases, including conditions in which impaired muscle performance contributes to disease progression.

Its leading investigational program is aficamten, a selective cardiac myosin inhibitor being developed for hypertrophic cardiomyopathy and other potential cardiovascular indications.

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