Cytokinetics (NASDAQ:CYTK) EVP Andrew Callos Sells 52,486 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 52,486 shares of the stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $65.95, for a total transaction of $3,461,451.70. Following the completion of the sale, the executive vice president owned 50,660 shares of the company’s stock, valued at approximately $3,341,027. The trade was a 50.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Cytokinetics Price Performance

Shares of Cytokinetics stock opened at $65.67 on Friday. The stock’s 50 day simple moving average is $61.93 and its 200-day simple moving average is $46.27. The stock has a market cap of $8.03 billion, a P/E ratio of -10.44 and a beta of 0.58. Cytokinetics, Incorporated has a 1-year low of $29.31 and a 1-year high of $69.33.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) EPS for the quarter, topping analysts’ consensus estimates of ($1.59) by $0.05. The company had revenue of $1.94 million for the quarter, compared to analysts’ expectations of $6.05 million. The business’s quarterly revenue was up 318.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.36) EPS. As a group, research analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Cytokinetics

Several large investors have recently made changes to their positions in CYTK. Aberdeen Group plc lifted its position in shares of Cytokinetics by 53.2% during the second quarter. Aberdeen Group plc now owns 922,929 shares of the biopharmaceutical company’s stock worth $30,494,000 after purchasing an additional 320,508 shares during the last quarter. Zweig DiMenna Associates LLC acquired a new stake in Cytokinetics during the second quarter valued at approximately $1,176,000. State of New Jersey Common Pension Fund D lifted its holdings in Cytokinetics by 50.6% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 61,783 shares of the biopharmaceutical company’s stock worth $2,041,000 after buying an additional 20,751 shares during the last quarter. Mirador Capital Partners LP grew its position in shares of Cytokinetics by 45.6% in the 2nd quarter. Mirador Capital Partners LP now owns 144,347 shares of the biopharmaceutical company’s stock worth $4,769,000 after acquiring an additional 45,222 shares in the last quarter. Finally, United Services Automobile Association acquired a new position in shares of Cytokinetics in the 1st quarter worth approximately $331,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a report on Tuesday, October 21st. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a report on Tuesday, September 2nd. HC Wainwright reissued a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research note on Monday, September 29th. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a research report on Tuesday, September 2nd. Finally, Wall Street Zen cut Cytokinetics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Thirteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.29.

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.