Key Points
- Cytokinetics EVP Fady Ibraham Malik sold 4,500 shares on April 7 at an average price of $65.11 for about $292,995 under a pre-arranged Rule 10b5-1 trading plan, leaving him with 153,902 shares (a ~2.84% decline).
- Malik also sold 12,033 shares on March 17 at $62.15 and 2,907 shares on March 9 at $60.72, indicating multiple recent insider sales.
- CYTK is trading near its 12-month high with a market cap of roughly $8.1 billion, and analysts hold a consensus Moderate Buy rating with an average target price of about $90.32.
Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Fady Ibraham Malik sold 4,500 shares of the company's stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $65.11, for a total transaction of $292,995.00. Following the sale, the executive vice president directly owned 153,902 shares of the company's stock, valued at approximately $10,020,559.22. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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, March 17th, Fady Ibraham Malik sold 12,033 shares of Cytokinetics stock. The shares were sold at an average price of $62.15, for a total transaction of $747,850.95.
- On Monday, March 9th, Fady Ibraham Malik sold 2,907 shares of Cytokinetics stock. The shares were sold at an average price of $60.72, for a total transaction of $176,513.04.
Cytokinetics Trading Up 0.4%
Shares of CYTK stock opened at $65.77 on Thursday. Cytokinetics, Incorporated has a 12 month low of $29.31 and a 12 month high of $70.98. The stock has a market cap of $8.10 billion, a P/E ratio of -10.07 and a beta of 0.47. The company has a 50 day simple moving average of $63.89 and a two-hundred day simple moving average of $62.45.
Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.48) by ($0.02). The firm had revenue of $17.76 million for the quarter, compared to analysts' expectations of $8.02 million. Cytokinetics's quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted ($1.26) earnings per share. As a group, equities analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of Cytokinetics from $84.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, February 3rd. Needham & Company LLC raised their target price on shares of Cytokinetics from $84.00 to $85.00 and gave the company a "buy" rating in a research note on Wednesday, February 25th. HC Wainwright raised their target price on shares of Cytokinetics from $120.00 to $136.00 and gave the company a "buy" rating in a research note on Monday, December 22nd. Morgan Stanley set a $90.00 target price on shares of Cytokinetics in a research note on Thursday, January 8th. Finally, Royal Bank Of Canada raised their target price on shares of Cytokinetics from $95.00 to $101.00 and gave the company an "outperform" rating in a research note on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $90.32.
Check Out Our Latest Stock Report on Cytokinetics
Hedge Funds Weigh In On Cytokinetics
Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Cytokinetics by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 12,048,131 shares of the biopharmaceutical company's stock valued at $765,538,000 after purchasing an additional 191,336 shares during the last quarter. State Street Corp lifted its holdings in shares of Cytokinetics by 3.7% in the 4th quarter. State Street Corp now owns 5,825,295 shares of the biopharmaceutical company's stock worth $370,139,000 after acquiring an additional 207,961 shares during the last quarter. Deep Track Capital LP lifted its holdings 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 worth $236,328,000 after acquiring an additional 650,000 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cytokinetics by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,056,017 shares of the biopharmaceutical company's stock worth $194,214,000 after acquiring an additional 15,815 shares during the last quarter. Finally, Vestal Point Capital LP lifted its holdings in shares of Cytokinetics by 14.8% in the 2nd quarter. Vestal Point Capital LP now owns 2,975,000 shares of the biopharmaceutical company's stock worth $98,294,000 after acquiring an additional 384,469 shares during the last quarter.
Cytokinetics Company Profile
(
Get Free Report)
Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.
The company's most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.
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