Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Fady Malik sold 3,500 shares of the company's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $75.46, for a total value of $264,110.00. Following the transaction, the executive vice president directly owned 153,902 shares in the company, valued at $11,613,444.92. This represents a 2.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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, August 18th, Fady Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $75.82, for a total value of $265,370.00.
- On Tuesday, July 21st, Fady 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 Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $86.62, for a total transaction of $303,170.00.
- On Tuesday, June 23rd, Fady Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $79.51, for a total transaction of $278,285.00.
Cytokinetics Stock Up 3.6%
CYTK opened at $75.35 on Wednesday. The firm has a 50-day moving average price of $78.78 and a 200-day moving average price of $72.61. Cytokinetics, Incorporated has a twelve month low of $47.22 and a twelve month high of $88.31. The company has a market capitalization of $9.38 billion, a price-to-earnings ratio of -10.44 and a beta of 0.36.
Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.50) EPS for the quarter, topping the consensus estimate of ($1.63) by $0.13. The business had revenue of $28.62 million during the quarter, compared to the consensus estimate of $17.59 million. During the same period last year, the business posted ($1.12) earnings per share. The firm's quarterly revenue was down 57.1% on a year-over-year basis. On average, sell-side analysts expect that Cytokinetics, Incorporated will post -5.98 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Cytokinetics from $97.00 to $103.00 and gave the company an "overweight" rating in a research report on Thursday, August 13th. Needham & Company LLC raised their target price on Cytokinetics from $102.00 to $112.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Royal Bank Of Canada reduced their target price on Cytokinetics from $117.00 to $112.00 and set an "outperform" rating for the company in a report on Friday, August 7th. UBS Group upgraded Cytokinetics from a "neutral" rating to a "buy" rating and upped their price target for the company from $69.00 to $115.00 in a research report on Monday, June 29th. Finally, HC Wainwright reissued a "buy" rating and issued a $140.00 price target on shares of Cytokinetics in a report on Monday, August 31st. Eighteen equities 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 company's stock. According to data from MarketBeat, Cytokinetics presently has a consensus rating of "Moderate Buy" and an average target price of $103.37.
Get Our Latest Stock Report on CYTK
Institutional Investors Weigh In On Cytokinetics
Institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC boosted its stake in Cytokinetics by 361.9% during the first quarter. Millennium Management LLC now owns 287,901 shares of the biopharmaceutical company's stock valued at $11,571,000 after buying an additional 225,576 shares during the period. Cetera Investment Advisers increased its stake in Cytokinetics by 12.4% in the 2nd quarter. Cetera Investment Advisers now owns 6,635 shares of the biopharmaceutical company's stock worth $219,000 after acquiring an additional 731 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 valued at $25,000 after acquiring an additional 673 shares in the last quarter. Gabelli Funds LLC raised its holdings in shares of Cytokinetics by 29.4% in the 2nd quarter. Gabelli Funds LLC now owns 8,410 shares of the biopharmaceutical company's stock valued at $278,000 after acquiring an additional 1,910 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of Cytokinetics by 10.8% during the 2nd quarter. California Public Employees Retirement System now owns 142,602 shares of the biopharmaceutical company's stock valued at $4,712,000 after acquiring an additional 13,911 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.
Further Reading
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