Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Fady Ibraham Malik sold 3,500 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $67.98, for a total value of $237,930.00. Following the sale, the executive vice president owned 153,902 shares of the company's stock, valued at $10,462,257.96. This represents a 2.22% decrease in their position. The transaction was disclosed in a 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, May 5th, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $77.37, for a total value of $270,795.00.
- On Tuesday, April 21st, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $65.69, for a total value of $229,915.00.
- On Tuesday, April 7th, Fady Ibraham Malik sold 4,500 shares of Cytokinetics stock. The stock was sold at an average price of $65.11, for a total value of $292,995.00.
- On Tuesday, March 17th, Fady Ibraham Malik sold 12,033 shares of Cytokinetics stock. The stock was sold at an average price of $62.15, for a total value of $747,850.95.
Cytokinetics Trading Up 0.8%
NASDAQ:CYTK opened at $68.45 on Wednesday. Cytokinetics, Incorporated has a 12-month low of $31.99 and a 12-month high of $80.20. The stock has a 50-day moving average price of $70.18 and a 200 day moving average price of $65.98. The stock has a market capitalization of $8.52 billion, a P/E ratio of -10.01 and a beta of 0.42.
Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, meeting the consensus estimate of ($1.67). The firm had revenue of $19.36 million for the quarter, compared to analysts' expectations of $8.52 million. The business's quarterly revenue was up 1112.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.36) EPS. On average, research analysts predict that Cytokinetics, Incorporated will post -6.29 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. Wall Street Zen upgraded Cytokinetics from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Wells Fargo & Company raised their price target on Cytokinetics from $95.00 to $105.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Morgan Stanley raised their price target on Cytokinetics from $90.00 to $103.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Barclays raised their price target on Cytokinetics from $87.00 to $95.00 and gave the company an "overweight" rating in a report on Monday, April 6th. Finally, JPMorgan Chase & Co. raised their price target on Cytokinetics from $92.00 to $97.00 and gave the company an "overweight" rating in a report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $99.30.
Check Out Our Latest Report on CYTK
Hedge Funds Weigh In On Cytokinetics
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can boosted its holdings in shares of Cytokinetics by 1.2% in the 4th quarter. Bank of Montreal Can now owns 13,292 shares of the biopharmaceutical company's stock worth $845,000 after purchasing an additional 160 shares during the period. Kennedy Capital Management LLC boosted its holdings in shares of Cytokinetics by 1.2% in the 4th quarter. Kennedy Capital Management LLC now owns 13,183 shares of the biopharmaceutical company's stock worth $838,000 after purchasing an additional 162 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Cytokinetics by 46.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company's stock worth $35,000 after purchasing an additional 171 shares during the period. Vident Advisory LLC boosted its holdings in shares of Cytokinetics by 1.4% in the 4th quarter. Vident Advisory LLC now owns 16,455 shares of the biopharmaceutical company's stock worth $1,046,000 after purchasing an additional 234 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Cytokinetics by 6.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,723 shares of the biopharmaceutical company's stock worth $237,000 after purchasing an additional 239 shares during the period.
About Cytokinetics
(
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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