Key Points
- Cytokinetics EVP Fady Ibraham Malik sold 3,500 shares at an average price of $75.82, generating $265,370. The transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced his holdings by 2.22%.
- Cytokinetics reported a quarterly loss of $1.50 per share, beating estimates for a $1.63 loss, while revenue of $28.62 million exceeded expectations but declined 57.1% year over year.
- Analyst sentiment remains positive, with 19 Buy ratings, one Hold and one Sell; the consensus rating is “Moderate Buy” with a $102.20 price target versus a recent share price near $76.
Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Fady Ibraham Malik sold 3,500 shares of the business's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $75.82, for a total transaction of $265,370.00. Following the transaction, the executive vice president owned 153,902 shares of the company's stock, valued at approximately $11,668,849.64. The trade was a 2.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 21st, Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $80.59, for a total value of $282,065.00.
- 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 shares were sold at an average price of $67.98, for a total value of $237,930.00.
Cytokinetics Stock Performance
CYTK opened at $76.10 on Wednesday. Cytokinetics, Incorporated has a one year low of $35.22 and a one year high of $88.31. The company has a market cap of $9.47 billion, a P/E ratio of -10.54 and a beta of 0.39. The business's 50-day simple moving average is $79.58 and its 200-day simple moving average is $71.53.
Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.50) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.63) by $0.13. The business had revenue of $28.62 million during the quarter, compared to analyst estimates of $17.59 million. The business's revenue for the quarter was down 57.1% compared to the same quarter last year. During the same period last year, the company earned ($1.12) earnings per share. As a group, analysts predict that Cytokinetics, Incorporated will post -6 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research analysts have recently issued reports on CYTK shares. Barclays upped their target price on shares of Cytokinetics from $95.00 to $110.00 and gave the company an "overweight" rating in a report on Thursday, August 13th. Truist Financial boosted their price target on shares of Cytokinetics from $106.00 to $112.00 and gave the company a "buy" rating in a research report on Monday, August 10th. HC Wainwright restated a "buy" rating on shares of Cytokinetics in a research note on Friday. Citizens Jmp raised their price objective on Cytokinetics from $105.00 to $110.00 and gave the stock a "market outperform" rating in a report on Friday, August 7th. Finally, Wells Fargo & Company lifted their target price on Cytokinetics from $95.00 to $105.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Nineteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $102.20.
Check Out Our Latest Stock Report on CYTK
Institutional Trading of Cytokinetics
Several institutional investors and hedge funds have recently bought and sold shares of the business. Woodline Partners LP increased its holdings in shares of Cytokinetics by 676.1% in the third quarter. Woodline Partners LP now owns 1,647,725 shares of the biopharmaceutical company's stock valued at $90,559,000 after purchasing an additional 1,435,422 shares during the period. Norges Bank purchased a new stake in shares of Cytokinetics during the fourth quarter worth approximately $51,281,000. Deep Track Capital LP lifted its holdings in shares of Cytokinetics by 17.8% during the third quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company's stock worth $236,328,000 after purchasing an additional 650,000 shares during the period. Siren L.L.C. purchased a new position in Cytokinetics in the 1st quarter valued at $40,466,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Cytokinetics by 151,987.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 565,765 shares of the biopharmaceutical company's stock valued at $35,949,000 after buying an additional 565,393 shares during the last quarter.
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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