Key Points
- Cytokinetics EVP Fady Malik sold 3,500 shares at an average price of $68.29, generating $239,015. The transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced his holdings by 2.22% to 153,902 shares.
- Malik has made five similar 3,500-share sales since July, with sale prices declining from $86.62 to $68.29, indicating a recurring pattern of insider selling.
- Cytokinetics shares opened at $67.59, while analysts maintained a largely positive outlook: 18 analysts rated the stock a Buy, producing a “Moderate Buy” consensus and an average price target of $103.37.
Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Fady Malik sold 3,500 shares of the business's stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $68.29, for a total transaction of $239,015.00. Following the transaction, the executive vice president owned 153,902 shares in the company, valued at approximately $10,509,967.58. This represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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, September 8th, Fady Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $75.46, for a total value of $264,110.00.
- On Tuesday, August 18th, Fady Malik sold 3,500 shares of Cytokinetics stock. The shares were 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 stock was sold at an average price of $86.62, for a total value of $303,170.00.
Cytokinetics Price Performance
Shares of Cytokinetics stock opened at $67.59 on Wednesday. The firm has a market cap of $8.41 billion, a price-to-earnings ratio of -9.36 and a beta of 0.36. The stock has a 50-day simple moving average of $75.93 and a 200-day simple moving average of $73.04. Cytokinetics, Incorporated has a 52-week low of $47.22 and a 52-week high of $88.31.
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 analysts' consensus estimates of ($1.63) by $0.13. The firm had revenue of $28.62 million during the quarter, compared to analyst estimates of $17.59 million. The company's quarterly revenue was down 57.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.12) EPS. As a group, equities research analysts predict that Cytokinetics, Incorporated will post -5.98 earnings per share for the current year.
Analyst Ratings Changes
A number of research analysts have recently weighed in on CYTK shares. JPMorgan Chase & Co. raised their price target on shares of Cytokinetics from $97.00 to $103.00 and gave the company an "overweight" rating in a report on Thursday, August 13th. Wall Street Zen lowered Cytokinetics from a "hold" rating to a "sell" rating in a report on Saturday, August 29th. Citizens Jmp boosted their price target on Cytokinetics from $105.00 to $110.00 and gave the stock a "market outperform" rating in a research report on Friday, August 7th. Truist Financial upped their price target on Cytokinetics from $106.00 to $112.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Finally, Needham & Company LLC increased their price objective on Cytokinetics from $102.00 to $112.00 and gave the company a "buy" rating in a report on Friday, August 7th. Eighteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.37.
Get Our Latest Stock Report on Cytokinetics
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Cytokinetics in the fourth quarter valued at approximately $51,281,000. Siren L.L.C. acquired a new position in Cytokinetics during the 1st quarter worth $40,466,000. ExodusPoint Capital Management LP acquired a new position in Cytokinetics during the 4th quarter worth $21,803,000. BNP Paribas Financial Markets boosted its position in Cytokinetics by 134.3% in the 4th quarter. BNP Paribas Financial Markets now owns 579,862 shares of the biopharmaceutical company's stock valued at $36,844,000 after buying an additional 332,397 shares during the last quarter. Finally, Eventide Asset Management LLC boosted its position in Cytokinetics by 181.9% in the 4th quarter. Eventide Asset Management LLC now owns 479,611 shares of the biopharmaceutical company's stock valued at $30,473,000 after buying an additional 309,503 shares during the last quarter.
About Cytokinetics
(
Get Free Report)
Cytokinetics, Incorporated is a biopharmaceutical company focused on discovering and developing medicines that target the biology of muscle function. The company applies expertise in muscle physiology and contractility to develop potential treatments for cardiovascular and neuromuscular diseases.
Its leading programs include aficamten, an investigational cardiac myosin inhibitor being developed for conditions involving abnormal heart-muscle contraction, including hypertrophic cardiomyopathy.
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