Key Points
- EVP Fady Ibraham Malik sold 2,200 Cytokinetics shares on Dec. 16 at an average price of $61.24, trimming his stake to 138,552 shares (a 1.56% decrease) valued at about $8.48 million.
- Malik has conducted repeated insider sales since September—seven transactions totaling roughly 15,000 shares for about $900,000 in proceeds—indicating a consistent pattern of disposals.
- Cytokinetics (NASDAQ:CYTK) trades near $62 with a market cap of $7.58 billion, and analysts hold a consensus rating of “Moderate Buy” with an average target price of $79.29 amid mixed individual ratings.
Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Fady Ibraham Malik sold 2,200 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $61.24, for a total transaction of $134,728.00. Following the completion of the sale, the executive vice president owned 138,552 shares in the company, valued at $8,484,924.48. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Fady Ibraham Malik also recently made the following trade(s):
- On Tuesday, December 2nd, Fady Ibraham Malik sold 2,200 shares of Cytokinetics stock. The shares were sold at an average price of $63.89, for a total transaction of $140,558.00.
- On Tuesday, November 18th, Fady Ibraham Malik sold 2,200 shares of Cytokinetics stock. The shares were sold at an average price of $66.45, for a total transaction of $146,190.00.
- On Tuesday, November 4th, Fady Ibraham Malik sold 2,295 shares of Cytokinetics stock. The stock was sold at an average price of $59.55, for a total transaction of $136,667.25.
- On Tuesday, October 21st, Fady Ibraham Malik sold 2,105 shares of Cytokinetics stock. The shares were sold at an average price of $58.22, for a total transaction of $122,553.10.
- On Tuesday, October 7th, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The shares were sold at an average price of $60.56, for a total transaction of $121,120.00.
- On Tuesday, September 23rd, Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock. The stock was sold at an average price of $49.28, for a total value of $98,560.00.
Cytokinetics Trading Down 0.2%
CYTK stock opened at $62.02 on Wednesday. Cytokinetics, Incorporated has a 1-year low of $29.31 and a 1-year high of $69.33. The firm has a market cap of $7.58 billion, a PE ratio of -9.86 and a beta of 0.58. The business's 50-day moving average price is $62.64 and its two-hundred day moving average price is $48.02.
Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.59) by $0.05. The business had revenue of $1.94 million during the quarter, compared to the consensus estimate of $6.05 million. During the same quarter last year, the company earned ($1.36) earnings per share. The firm's revenue was up 318.1% compared to the same quarter last year. On average, analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. Bank of America raised their target price on shares of Cytokinetics from $52.00 to $56.00 and gave the stock a "neutral" rating in a report on Thursday, October 2nd. UBS Group restated a "neutral" rating and set a $61.00 price objective on shares of Cytokinetics in a report on Monday, December 1st. Needham & Company LLC reaffirmed a "buy" rating and issued a $72.00 price objective on shares of Cytokinetics in a research report on Friday, December 12th. Wall Street Zen cut Cytokinetics from a "hold" rating to a "sell" rating in a report on Saturday, November 8th. Finally, Barclays lifted their price target on Cytokinetics from $71.00 to $82.00 and gave the company an "overweight" rating in a research note on Monday, October 6th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Cytokinetics has a consensus rating of "Moderate Buy" and an average target price of $79.29.
Check Out Our Latest Analysis on CYTK
Hedge Funds Weigh In On Cytokinetics
Several hedge funds have recently modified their holdings of CYTK. Woodline Partners LP boosted its holdings in shares of Cytokinetics by 676.1% in the 3rd quarter. Woodline Partners LP now owns 1,647,725 shares of the biopharmaceutical company's stock valued at $90,559,000 after buying an additional 1,435,422 shares during the last quarter. Norges Bank bought a new stake in Cytokinetics during the second quarter worth $39,122,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. lifted its stake in Cytokinetics by 571.2% in the second quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 1,082,563 shares of the biopharmaceutical company's stock valued at $35,768,000 after acquiring an additional 921,278 shares during the last quarter. Paradigm Biocapital Advisors LP bought a new position in shares of Cytokinetics in the 1st quarter valued at about $34,510,000. Finally, Deep Track Capital LP grew its position in shares of Cytokinetics by 17.8% in the 3rd quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company's stock valued at $236,328,000 after acquiring an additional 650,000 shares during the period.
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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