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

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 15,000 shares of the firm’s stock in a transaction on 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 owned 58,555 shares in the company, valued at approximately $5,024,019. This represents a 20.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $74.08, for a total transaction 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 stock was sold at an average price of $63.26, for a total value 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

NASDAQ CYTK opened at $86.49 on Friday. The firm has a market cap of $10.76 billion, a PE ratio of -12.64 and a beta of 0.42. Cytokinetics, Incorporated has a one year low of $32.89 and a one year high of $88.31. The firm’s fifty day moving average is $74.56 and its two-hundred day moving average is $67.61.

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 the consensus estimate of ($1.67). The business had revenue of $19.36 million for the quarter, compared to analyst estimates of $8.52 million. Cytokinetics’s quarterly revenue was up 1112.5% on a year-over-year basis. During the same quarter last year, the company posted ($1.36) EPS. Research analysts predict that Cytokinetics, Incorporated will post -6.26 earnings per share for the current year.

Institutional Investors Weigh In On Cytokinetics

A number of large investors have recently modified their holdings of CYTK. Vanguard Group Inc. raised its position in shares of Cytokinetics by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 12,048,131 shares of the biopharmaceutical company’s stock valued at $765,538,000 after purchasing an additional 191,336 shares in the last quarter. Hudson Bay Capital Management LP boosted its holdings in shares of Cytokinetics by 15.4% in the 3rd quarter. Hudson Bay Capital Management LP now owns 182,131 shares of the biopharmaceutical company’s stock valued at $10,010,000 after buying an additional 24,345 shares during the period. Knott David M Jr bought a new position in shares of Cytokinetics during the third quarter valued at approximately $1,649,000. Boxer Capital Management LLC acquired a new stake in Cytokinetics in the third quarter worth $10,992,000. Finally, Cinctive Capital Management LP bought a new stake in Cytokinetics in the third quarter valued at $5,806,000.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CYTK. Wells Fargo & Company increased their price target on shares of Cytokinetics from $95.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Barclays increased their target price on shares of Cytokinetics from $87.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, April 6th. Stifel Nicolaus boosted their price target on Cytokinetics from $98.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Robert W. Baird set a $84.00 price objective on Cytokinetics in a research note on Tuesday, March 10th. Finally, JPMorgan Chase & Co. lifted their price objective on Cytokinetics from $92.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Two investment 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 issued a Sell rating to the stock. According to MarketBeat, Cytokinetics presently has a consensus rating of “Moderate Buy” and an average price target of $100.00.

About Cytokinetics

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.