Cytokinetics, Inc. (CYTK) EVP Sells $11,070.00 in Stock

Cytokinetics, Inc. (NASDAQ:CYTK) EVP Fady Ibraham Malik sold 1,500 shares of Cytokinetics stock in a transaction that occurred on Thursday, December 6th. The shares were sold at an average price of $7.38, for a total transaction of $11,070.00. Following the completion of the sale, the executive vice president now owns 87,067 shares of the company’s stock, valued at $642,554.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

  • On Thursday, November 1st, Fady Ibraham Malik sold 1,500 shares of Cytokinetics stock. The shares were sold at an average price of $6.68, for a total transaction of $10,020.00.
  • On Thursday, October 4th, Fady Ibraham Malik sold 1,500 shares of Cytokinetics stock. The shares were sold at an average price of $9.14, for a total transaction of $13,710.00.

Shares of NASDAQ:CYTK traded down $0.17 during trading on Friday, reaching $7.40. The stock had a trading volume of 287,270 shares, compared to its average volume of 342,075. Cytokinetics, Inc. has a 52 week low of $6.02 and a 52 week high of $10.26. The firm has a market cap of $413.61 million, a price-to-earnings ratio of -2.86 and a beta of 2.01. The company has a quick ratio of 10.58, a current ratio of 10.57 and a debt-to-equity ratio of 0.73.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.40) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.51) by $0.11. The firm had revenue of $10.64 million during the quarter, compared to the consensus estimate of $2.23 million. Research analysts predict that Cytokinetics, Inc. will post -1.96 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in CYTK. BlackRock Inc. increased its position in Cytokinetics by 9.5% during the third quarter. BlackRock Inc. now owns 8,698,387 shares of the biopharmaceutical company’s stock worth $85,680,000 after acquiring an additional 754,593 shares during the period. Millennium Management LLC increased its position in Cytokinetics by 351.9% during the second quarter. Millennium Management LLC now owns 461,733 shares of the biopharmaceutical company’s stock worth $3,832,000 after acquiring an additional 359,561 shares during the period. Dimensional Fund Advisors LP increased its position in Cytokinetics by 233.6% during the third quarter. Dimensional Fund Advisors LP now owns 229,377 shares of the biopharmaceutical company’s stock worth $2,259,000 after acquiring an additional 160,622 shares during the period. Marshall Wace North America L.P. bought a new position in Cytokinetics during the third quarter worth $1,291,000. Finally, Northern Trust Corp increased its position in Cytokinetics by 16.7% during the second quarter. Northern Trust Corp now owns 498,546 shares of the biopharmaceutical company’s stock worth $4,138,000 after acquiring an additional 71,418 shares during the period. 70.47% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have issued reports on CYTK. HC Wainwright set a $21.00 target price on shares of Cytokinetics and gave the company a “buy” rating in a research note on Wednesday. Cantor Fitzgerald reissued a “buy” rating and issued a $14.00 price target on shares of Cytokinetics in a research report on Wednesday. BidaskClub raised shares of Cytokinetics from a “hold” rating to a “buy” rating in a research report on Friday, November 23rd. ValuEngine raised shares of Cytokinetics from a “hold” rating to a “buy” rating in a research report on Wednesday, November 21st. Finally, Zacks Investment Research raised shares of Cytokinetics from a “sell” rating to a “hold” rating and set a $8.00 price target on the stock in a research report on Friday, November 2nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $12.83.

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About Cytokinetics

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.

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