Cytokinetics (NASDAQ:CYTK) EVP Sells $156,779.04 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 2,582 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $60.72, for a total transaction of $156,779.04. Following the completion of the sale, the executive vice president owned 47,858 shares of the company’s stock, valued at approximately $2,905,937.76. This trade represents a 5.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, March 5th, Andrew Callos sold 26,000 shares of Cytokinetics stock. The shares were sold at an average price of $61.87, for a total value of $1,608,620.00.
• On Thursday, February 5th, Andrew Callos sold 15,000 shares of Cytokinetics stock. The stock was sold at an average price of $61.93, for a total value of $928,950.00.
• On Monday, February 2nd, Andrew Callos sold 886 shares of Cytokinetics stock. The shares were sold at an average price of $62.10, for a total value of $55,020.60.
• On Monday, January 5th, Andrew Callos sold 15,000 shares of Cytokinetics stock. The stock was sold at an average price of $60.28, for a total value of $904,200.00.
• On Friday, January 2nd, Andrew Callos sold 1,798 shares of Cytokinetics stock. The shares were sold at an average price of $62.62, for a total transaction of $112,590.76.
• On Monday, December 29th, Andrew Callos sold 1,809 shares of Cytokinetics stock. The shares were sold at an average price of $62.44, for a total transaction of $112,953.96.

Cytokinetics Stock Down 5.7%

CYTK stock opened at $60.00 on Friday. The firm has a 50 day moving average of $63.95 and a 200 day moving average of $60.10. The stock has a market capitalization of $7.39 billion, a PE ratio of -9.19 and a beta of 0.56. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $70.98.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.02). The business had revenue of $17.76 million for the quarter, compared to analyst estimates of $8.02 million. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.26) EPS. On average, equities research analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Wall Street Analyst Weigh In

CYTK has been the topic of several research reports. Needham & Company LLC upped their target price on Cytokinetics from $84.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Bank of America reiterated a “neutral” rating on shares of Cytokinetics in a research note on Wednesday, February 25th. B. Riley Financial increased their price objective on Cytokinetics from $90.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Citigroup restated a “market outperform” rating on shares of Cytokinetics in a research note on Monday, December 22nd. Finally, Citizens Jmp lifted their target price on Cytokinetics from $88.00 to $96.00 and gave the stock a “market outperform” rating in a report on Wednesday, February 25th. Seventeen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.00.

Institutional Investors Weigh In On Cytokinetics

Hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can raised its stake in shares of Cytokinetics by 1.2% during the 4th quarter. Bank of Montreal Can now owns 13,292 shares of the biopharmaceutical company’s stock valued at $845,000 after buying an additional 160 shares during the last quarter. Kennedy Capital Management LLC boosted its stake in shares of Cytokinetics by 1.2% in the fourth quarter. Kennedy Capital Management LLC now owns 13,183 shares of the biopharmaceutical company’s stock worth $838,000 after buying an additional 162 shares during the last quarter. UMB Bank n.a. grew its holdings in Cytokinetics by 10.6% during the third quarter. UMB Bank n.a. now owns 1,762 shares of the biopharmaceutical company’s stock worth $97,000 after acquiring an additional 169 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Cytokinetics by 46.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 171 shares during the period. Finally, Vident Advisory LLC raised its position in Cytokinetics by 1.4% during the fourth quarter. Vident Advisory LLC now owns 16,455 shares of the biopharmaceutical company’s stock valued at $1,046,000 after acquiring an additional 234 shares in the last quarter.

Cytokinetics Company Profile

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.