Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells 2,000 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $49.32, for a total transaction of $98,640.00. Following the transaction, the executive vice president now directly owns 116,071 shares in the company, valued at $5,724,621.72. The trade was a 1.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, December 10th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $50.64, for a total transaction of $369,672.00.
• On Tuesday, November 26th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The shares were sold at an average price of $50.16, for a total transaction of $366,168.00.
• On Tuesday, November 12th, Fady Ibraham Malik sold 6,342 shares of Cytokinetics stock. The stock was sold at an average price of $58.48, for a total transaction of $370,880.16.
• On Wednesday, October 30th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $51.91, for a total transaction of $378,943.00.
• On Tuesday, October 15th, Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock. The stock was sold at an average price of $54.19, for a total transaction of $395,587.00.

Cytokinetics Trading Down 1.6 %

Shares of Cytokinetics stock traded down $0.75 on Friday, reaching $46.62. 1,758,065 shares of the company's stock were exchanged, compared to its average volume of 1,093,894. The company has a market capitalization of $5.50 billion, a P/E ratio of -8.67 and a beta of 0.82. Cytokinetics, Incorporated has a 52 week low of $45.17 and a 52 week high of $100.49. The firm's 50-day moving average is $50.53 and its two-hundred day moving average is $53.52. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.27) by ($0.09). The company had revenue of $0.46 million during the quarter, compared to the consensus estimate of $1.21 million. During the same quarter in the prior year, the company posted ($1.35) EPS. The firm's quarterly revenue was up 22.5% compared to the same quarter last year. Sell-side analysts predict that Cytokinetics, Incorporated will post -5.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Cytokinetics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Darwin Global Management Ltd. purchased a new stake in Cytokinetics in the 2nd quarter worth about $246,074,000. Integral Health Asset Management LLC boosted its stake in Cytokinetics by 122.2% in the 2nd quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company's stock worth $54,180,000 after purchasing an additional 550,000 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Cytokinetics by 42.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company's stock worth $69,769,000 after purchasing an additional 395,709 shares during the period. Westfield Capital Management Co. LP boosted its stake in Cytokinetics by 38.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company's stock worth $64,040,000 after purchasing an additional 339,373 shares during the period. Finally, Checkpoint Capital L.P. boosted its stake in Cytokinetics by 145.7% in the 3rd quarter. Checkpoint Capital L.P. now owns 466,813 shares of the biopharmaceutical company's stock worth $24,648,000 after purchasing an additional 276,813 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CYTK shares. Cantor Fitzgerald reissued an "overweight" rating on shares of Cytokinetics in a research report on Friday, October 18th. Needham & Company LLC reissued a "buy" rating and issued a $72.00 target price on shares of Cytokinetics in a research report on Monday, December 2nd. Mizuho boosted their target price on shares of Cytokinetics from $99.00 to $103.00 and gave the company an "outperform" rating in a research report on Thursday, November 21st. HC Wainwright reissued a "buy" rating on shares of Cytokinetics in a research report on Friday. Finally, Royal Bank of Canada boosted their target price on shares of Cytokinetics from $80.00 to $82.00 and gave the company an "outperform" rating in a research report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Cytokinetics presently has an average rating of "Moderate Buy" and a consensus price target of $83.64.

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.