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

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 15,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $61.93, for a total transaction of $928,950.00. Following the sale, the executive vice president directly owned 50,440 shares in the company, valued at $3,123,749.20. This trade represents a 22.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, February 2nd, Andrew Callos sold 886 shares of Cytokinetics stock. The stock was 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 shares were 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 stock was sold at an average price of $62.62, for a total value 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 value of $112,953.96.
• On Monday, December 8th, Andrew Callos sold 1,042 shares of Cytokinetics stock. The shares were sold at an average price of $65.96, for a total value of $68,730.32.
• On Friday, December 5th, Andrew Callos sold 52,486 shares of Cytokinetics stock. The stock was sold at an average price of $65.95, for a total value of $3,461,451.70.

Cytokinetics Stock Performance

Cytokinetics stock traded down $3.28 during trading hours on Thursday, reaching $60.24. 2,071,627 shares of the company’s stock traded hands, compared to its average volume of 1,559,518. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of -9.58 and a beta of 0.54. Cytokinetics, Incorporated has a fifty-two week low of $29.31 and a fifty-two week high of $70.98. The firm’s 50 day moving average is $63.47 and its 200-day moving average is $55.32.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) EPS for the quarter, topping the consensus estimate of ($1.59) by $0.05. The business had revenue of $1.94 million for the quarter, compared to analyst estimates of $6.05 million. During the same quarter in the prior year, the firm earned ($1.36) EPS. The firm’s quarterly revenue was up 318.1% compared to the same quarter last year. Analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CYTK. Citigroup reaffirmed a “market outperform” rating on shares of Cytokinetics in a research note on Monday, December 22nd. Wall Street Zen lowered Cytokinetics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research note on Tuesday, October 21st. UBS Group reissued a “neutral” rating and set a $61.00 price objective on shares of Cytokinetics in a research note on Monday, December 1st. Finally, The Goldman Sachs Group set a $95.00 price objective on shares of Cytokinetics and gave the company a “buy” rating in a report on Thursday, December 18th. Seventeen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Cytokinetics currently has an average rating of “Moderate Buy” and a consensus price target of $87.42.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Millennium Management LLC lifted its stake in Cytokinetics by 361.9% in the 1st quarter. Millennium Management LLC now owns 287,901 shares of the biopharmaceutical company’s stock valued at $11,571,000 after acquiring an additional 225,576 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Cytokinetics by 30.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,476 shares of the biopharmaceutical company’s stock valued at $294,000 after purchasing an additional 1,988 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Cytokinetics by 17.4% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,613 shares of the biopharmaceutical company’s stock worth $152,000 after purchasing an additional 683 shares in the last quarter. KLP Kapitalforvaltning AS boosted its holdings in Cytokinetics by 1.7% during the second quarter. KLP Kapitalforvaltning AS now owns 24,000 shares of the biopharmaceutical company’s stock worth $793,000 after purchasing an additional 400 shares during the last quarter. Finally, Aberdeen Group plc grew its position in Cytokinetics by 53.2% in the second quarter. Aberdeen Group plc now owns 922,929 shares of the biopharmaceutical company’s stock valued at $30,494,000 after purchasing an additional 320,508 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.