Cytokinetics (NASDAQ:CYTK) EVP Andrew Callos Sells 15,000 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 15,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $85.80, for a total value of $1,287,000.00. Following the completion of the sale, the executive vice president directly owned 58,555 shares of the company’s stock, valued at approximately $5,024,019. The trade was a 20.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 1st, Andrew Callos sold 15,000 shares of Cytokinetics stock. The stock was sold at an average price of $74.08, for a total value of $1,111,200.00.
• On Friday, May 1st, Andrew Callos sold 15,857 shares of Cytokinetics stock. The stock was sold at an average price of $65.00, for a total value of $1,030,705.00.
• On Thursday, April 30th, Andrew Callos sold 15,000 shares of Cytokinetics stock. The shares were sold at an average price of $63.26, for a total transaction of $948,900.00.
• On Wednesday, April 15th, Andrew Callos sold 7,449 shares of Cytokinetics stock. The stock was sold at an average price of $66.02, for a total transaction of $491,782.98.

Cytokinetics Stock Performance

Shares of NASDAQ CYTK traded up $1.23 during midday trading on Thursday, reaching $86.49. The stock had a trading volume of 2,022,530 shares, compared to its average volume of 2,243,849. The company’s 50 day moving average price is $74.15 and its 200 day moving average price is $67.45. Cytokinetics, Incorporated has a twelve month low of $32.89 and a twelve month high of $88.31. The firm has a market cap of $10.76 billion, a price-to-earnings ratio of -12.64 and a beta of 0.42.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, hitting analysts’ consensus estimates of ($1.67). The firm had revenue of $19.36 million for the quarter, compared to the consensus estimate of $8.52 million. Cytokinetics’s quarterly revenue was up 1112.5% on a year-over-year basis. During the same period in the prior year, the business earned ($1.36) EPS. Equities analysts forecast that Cytokinetics, Incorporated will post -6.26 earnings per share for the current fiscal year.

Institutional Trading of Cytokinetics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Seven Fleet Capital Management LP raised its stake in Cytokinetics by 492.8% during the 1st quarter. Seven Fleet Capital Management LP now owns 61,269 shares of the biopharmaceutical company’s stock worth $4,038,000 after buying an additional 50,934 shares during the period. Western Wealth Management LLC acquired a new stake in Cytokinetics in the first quarter valued at approximately $53,000. Cim Investment Management Inc. acquired a new stake in Cytokinetics in the first quarter valued at approximately $308,000. Janus Henderson Group PLC increased its holdings in shares of Cytokinetics by 10.1% during the first quarter. Janus Henderson Group PLC now owns 282,121 shares of the biopharmaceutical company’s stock valued at $18,593,000 after acquiring an additional 25,909 shares in the last quarter. Finally, Encore Global Management LP acquired a new position in shares of Cytokinetics during the first quarter worth approximately $330,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CYTK shares. Wall Street Zen raised Cytokinetics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $119.00 target price on shares of Cytokinetics in a research note on Wednesday, June 17th. Truist Financial set a $106.00 target price on Cytokinetics in a report on Tuesday, May 5th. Mizuho increased their price target on Cytokinetics from $100.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, June 24th. Finally, Citigroup began coverage on shares of Cytokinetics in a research note on Monday, May 18th. They issued a “buy” rating and a $99.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $100.00.

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.