Key Points
- Cytokinetics EVP Fady Malik sold 3,500 shares at an average $62.93, worth about $220,255. The sale was made under a pre-arranged Rule 10b5-1 plan and left him with 153,902 shares.
- Malik has also made several recent sales of 3,500 shares, while analysts overall maintain a “Moderate Buy” consensus rating and an average price target of $105.44.
- Cytokinetics’ latest reported quarter beat estimates for both adjusted loss per share and revenue, though revenue fell 57.1% year over year.
Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Fady Malik sold 3,500 shares of the business's stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $62.93, for a total value of $220,255.00. Following the sale, the executive vice president owned 153,902 shares in the company, valued at approximately $9,685,052.86. This trade represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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, October 20th, Fady Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $64.01, for a total transaction of $224,035.00.
- On Tuesday, October 6th, Fady Malik sold 3,500 shares of Cytokinetics stock. The shares were sold at an average price of $61.38, for a total transaction of $214,830.00.
- On Tuesday, September 22nd, Fady Malik sold 3,500 shares of Cytokinetics stock. The stock was sold at an average price of $68.29, for a total transaction of $239,015.00.
- 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 transaction of $264,110.00.
- 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 transaction of $265,370.00.
Cytokinetics Stock Performance
Shares of NASDAQ CYTK opened at $62.31 on Wednesday. Cytokinetics, Incorporated has a 52-week low of $58.05 and a 52-week high of $88.31. The firm has a 50 day moving average price of $66.91 and a two-hundred day moving average price of $70.05. The stock has a market cap of $7.75 billion, a P/E ratio of -8.63 and a beta of 0.45.
Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $28.62 million for the quarter, compared to analyst estimates of $17.59 million. Cytokinetics's revenue for the quarter was down 57.1% on a year-over-year basis. During the same quarter last year, the firm posted ($1.12) EPS. Analysts predict that Cytokinetics, Incorporated will post -5.97 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on CYTK shares. Citigroup reaffirmed a "market outperform" rating on shares of Cytokinetics in a research report on Friday, August 7th. Wall Street Zen lowered Cytokinetics from a "hold" rating to a "sell" rating in a research report on Tuesday, October 20th. Truist Financial upped their price target on Cytokinetics from $106.00 to $112.00 and gave the company a "buy" rating in a research report on Monday, August 10th. JPMorgan Chase & Co. increased their price target on Cytokinetics from $97.00 to $103.00 and gave the company an "overweight" rating in a research note on Thursday, August 13th. Finally, Barclays raised their price objective on Cytokinetics from $95.00 to $110.00 and gave the stock an "overweight" rating in a research report on Thursday, August 13th. Nineteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $105.44.
Get Our Latest Research Report on CYTK
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Physician Wealth Advisors Inc. raised its stake in Cytokinetics by 810.2% during the third quarter. Physician Wealth Advisors Inc. now owns 446 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 397 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in Cytokinetics by 71.5% in the third quarter. V Square Quantitative Management LLC now owns 458 shares of the biopharmaceutical company's stock valued at $30,000 after buying an additional 191 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Cytokinetics in the second quarter valued at $36,000. Rockefeller Capital Management L.P. lifted its holdings in Cytokinetics by 842.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 641 shares of the biopharmaceutical company's stock valued at $41,000 after buying an additional 573 shares during the period. Finally, Manchester Capital Management LLC bought a new stake in Cytokinetics during the third quarter valued at $43,000.
About Cytokinetics
(
Get Free Report)
Cytokinetics, Incorporated is a biopharmaceutical company focused on discovering and developing medicines that target muscle function and contractility. The company applies muscle biology and sarcomere science to develop potential treatments for cardiovascular and neuromuscular diseases, including conditions in which impaired muscle performance contributes to disease progression.
Its leading investigational program is aficamten, a selective cardiac myosin inhibitor being developed for hypertrophic cardiomyopathy and other potential cardiovascular indications.
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