On October 15, 2024, Fady Malik, Executive Vice President of Research & Development at Cytokinetics Inc (CYTK, Financial), sold 7,300 shares of the company. The transaction was reported in a recent SEC Filing. Following this sale, the insider now owns 116,920 shares of Cytokinetics Inc.
Cytokinetics Inc is a biopharmaceutical company focused on the discovery, development, and commercialization of muscle activators and inhibitors as potential treatments for people suffering from debilitating diseases in which muscle performance is compromised and/or declining.
According to the filing, the shares were sold at a price of $54.19, valuing the transaction at approximately $395,587. The sale on October 15 is part of a broader trend observed over the past year, where the insider has sold a total of 172,507 shares. During the same period, there have been no recorded insider purchases of Cytokinetics Inc stock.
The broader insider transaction history for Cytokinetics Inc shows a pattern of selling, with 49 insider sales and no insider buys over the past year.
The stock of Cytokinetics Inc, with a market cap of approximately $6.5 billion, is currently trading at a price that reflects a significant premium according to the GF Value. The GF Value, an intrinsic value estimate, suggests a target price of $2.57, making the stock significantly overvalued with a price-to-GF-Value ratio of 21.09.
The GF Value is calculated considering historical trading multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted for the company's past performance and expected future business outcomes.
This recent insider sale could be a point of interest for investors and market watchers keeping an eye on Cytokinetics Inc's stock performance and valuation metrics.
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