Key Points
- CEO Robert Blum sold 7,500 Cytokinetics shares at an average price of $80.87, totaling $606,525. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his ownership by 1.95% to 377,820 shares.
- Cytokinetics reported quarterly revenue of $19.36 million, up 1,112.5% year over year, while posting a loss of $1.67 per share in line with analyst expectations.
- Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $99.90, above its reported opening price of $79.45.
Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Fady Ibraham Malik sold 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $80.59, for a total value of $282,065.00. Following the completion of the sale, the executive vice president directly owned 153,902 shares in the company, valued at approximately $12,402,962.18. This trade represents a 2.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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, July 7th, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $86.62, for a total value of $303,170.00.
- On Tuesday, June 23rd, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $79.51, for a total value of $278,285.00.
- On Tuesday, June 9th, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $67.98, for a total value of $237,930.00.
- On Tuesday, May 5th, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $77.37, for a total value of $270,795.00.
Cytokinetics Stock Performance
Shares of CYTK opened at $79.45 on Wednesday. Cytokinetics, Incorporated has a 1 year low of $32.89 and a 1 year high of $88.31. The company has a market cap of $9.89 billion, a price-to-earnings ratio of -11.62 and a beta of 0.42. The firm has a fifty day moving average of $78.70 and a 200-day moving average of $70.11.
Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) EPS for the quarter, hitting the consensus estimate of ($1.67). The firm had revenue of $19.36 million for the quarter, compared to the consensus estimate of $8.52 million. The firm's revenue was up 1112.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.36) EPS. Analysts predict that Cytokinetics, Incorporated will post -6.2 EPS for the current year.
Hedge Funds Weigh In On Cytokinetics
Large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its stake in shares of Cytokinetics by 723.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company's stock worth $25,000 after acquiring an additional 673 shares during the period. Kemnay Advisory Services Inc. bought a new position in shares of Cytokinetics in the fourth quarter valued at approximately $27,000. Kestra Advisory Services LLC acquired a new position in shares of Cytokinetics during the fourth quarter valued at approximately $29,000. Quarry LP acquired a new position in shares of Cytokinetics during the third quarter valued at approximately $30,000. Finally, TD Waterhouse Canada Inc. bought a new stake in Cytokinetics during the fourth quarter worth approximately $32,000.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on CYTK shares. Stifel Nicolaus raised their price target on shares of Cytokinetics from $98.00 to $108.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Truist Financial set a $106.00 price objective on Cytokinetics in a research report on Tuesday, May 5th. Royal Bank Of Canada decreased their price objective on Cytokinetics from $119.00 to $117.00 and set an "outperform" rating for the company in a report on Tuesday, July 7th. Wells Fargo & Company raised their target price on Cytokinetics from $95.00 to $105.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Finally, HC Wainwright lifted their target price on Cytokinetics from $136.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $99.90.
Check Out Our Latest Analysis on Cytokinetics
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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