Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Fady Ibraham Malik sold 32,605 shares of the firm's stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $74.31, for a total transaction of $2,422,877.55. Following the completion of the transaction, the executive vice president now directly owns 138,567 shares in the company, valued at approximately $10,296,913.77. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
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 Performance
NASDAQ:CYTK opened at $75.05 on Wednesday. Cytokinetics, Incorporated has a fifty-two week low of $25.98 and a fifty-two week high of $110.25. The stock has a market capitalization of $7.73 billion, a P/E ratio of -13.77 and a beta of 0.68. The company's 50-day simple moving average is $72.62 and its 200-day simple moving average is $56.68.
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Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $1.70 million for the quarter, compared to analysts' expectations of $7.62 million. The firm's revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.45) earnings per share. On average, research analysts forecast that Cytokinetics, Incorporated will post -4.5 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the stock. StockNews.com cut shares of Cytokinetics from a "hold" rating to a "sell" rating in a report on Friday, January 5th. Oppenheimer reiterated an "outperform" rating and set a $107.00 target price on shares of Cytokinetics in a report on Monday, March 4th. UBS Group cut shares of Cytokinetics from a "buy" rating to a "neutral" rating and increased their target price for the stock from $61.00 to $92.00 in a report on Wednesday, January 24th. HC Wainwright reiterated a "buy" rating and set a $94.00 target price on shares of Cytokinetics in a report on Wednesday, February 28th. Finally, Truist Financial reiterated a "buy" rating and set a $86.00 target price on shares of Cytokinetics in a report on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, Cytokinetics currently has an average rating of "Moderate Buy" and a consensus price target of $79.33.
Read Our Latest Stock Report on CYTK
Hedge Funds Weigh In On Cytokinetics
Hedge funds and other institutional investors have recently modified their holdings of the stock. Belpointe Asset Management LLC raised its position in shares of Cytokinetics by 76.2% in the 1st quarter. Belpointe Asset Management LLC now owns 786 shares of the biopharmaceutical company's stock valued at $28,000 after purchasing an additional 340 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Cytokinetics by 96.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,463 shares of the biopharmaceutical company's stock valued at $73,000 after purchasing an additional 1,209 shares during the last quarter. Natixis purchased a new position in shares of Cytokinetics in the 4th quarter valued at approximately $73,000. Advisory Services Network LLC purchased a new position in shares of Cytokinetics in the 4th quarter valued at approximately $79,000. Finally, GAMMA Investing LLC purchased a new position in shares of Cytokinetics in the 4th quarter valued at approximately $80,000.
Cytokinetics Company Profile
(
Get Free Report)
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.
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