Andrew Callos Sells 2,775 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 2,775 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $44.38, for a total value of $123,154.50. Following the transaction, the executive vice president now owns 34,888 shares of the company’s stock, valued at $1,548,329.44. This trade represents a 7.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Andrew Callos also recently made the following trade(s):

• On Friday, March 14th, Andrew Callos sold 100 shares of Cytokinetics stock. The stock was sold at an average price of $45.00, for a total value of $4,500.00.
• On Thursday, March 6th, Andrew Callos sold 3,341 shares of Cytokinetics stock. The stock was sold at an average price of $43.27, for a total value of $144,565.07.

Cytokinetics Stock Down 3.6 %

Shares of NASDAQ:CYTK opened at $43.28 on Wednesday. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of -8.04 and a beta of 0.95. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 12-month low of $40.53 and a 12-month high of $75.71. The business’s 50 day moving average is $46.15 and its 200 day moving average is $50.13.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.29) by $0.03. The company had revenue of $16.93 million for the quarter, compared to analysts’ expectations of $14.26 million. On average, sell-side analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CYTK. Deep Track Capital LP boosted its position in Cytokinetics by 296.9% in the fourth quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company’s stock worth $117,600,000 after purchasing an additional 1,870,094 shares during the last quarter. Capital International Investors purchased a new position in Cytokinetics in the fourth quarter worth $51,564,000. T. Rowe Price Investment Management Inc. boosted its position in Cytokinetics by 11.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company’s stock worth $505,780,000 after purchasing an additional 1,062,136 shares during the last quarter. Norges Bank purchased a new position in Cytokinetics in the fourth quarter worth $46,556,000. Finally, Vestal Point Capital LP boosted its position in Cytokinetics by 56.7% in the fourth quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company’s stock worth $110,544,000 after purchasing an additional 850,000 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. Mizuho lifted their target price on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. HC Wainwright reiterated a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a report on Friday, February 28th. Citigroup assumed coverage on Cytokinetics in a report on Friday, February 7th. They issued a “buy” rating and a $86.00 target price for the company. Finally, Royal Bank of Canada boosted their price objective on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

About Cytokinetics

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.