Cytokinetics (NASDAQ:CYTK) EVP Sells $1,111,200.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 15,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $74.08, for a total transaction of $1,111,200.00. Following the sale, the executive vice president directly owned 58,555 shares of the company’s stock, valued at $4,337,754.40. The trade was a 20.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, May 1st, Andrew Callos sold 15,857 shares of Cytokinetics stock. The shares were sold at an average price of $65.00, for a total transaction 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 shares were sold at an average price of $66.02, for a total transaction of $491,782.98.
• On Wednesday, March 18th, Andrew Callos sold 1,930 shares of Cytokinetics stock. The shares were sold at an average price of $62.07, for a total transaction of $119,795.10.
• On Tuesday, March 17th, Andrew Callos sold 8,542 shares of Cytokinetics stock. The shares were sold at an average price of $62.15, for a total transaction of $530,885.30.
• On Monday, March 16th, Andrew Callos sold 1,709 shares of Cytokinetics stock. The shares were sold at an average price of $61.03, for a total transaction of $104,300.27.
• On Monday, March 9th, Andrew Callos sold 2,582 shares of Cytokinetics stock. The shares were sold at an average price of $60.72, for a total transaction of $156,779.04.
• 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.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK traded down $3.08 during mid-day trading on Monday, reaching $73.68. 1,659,872 shares of the company traded hands, compared to its average volume of 2,198,320. The company’s 50 day moving average price is $68.95 and its 200-day moving average price is $65.75. The firm has a market cap of $9.17 billion, a PE ratio of -10.77 and a beta of 0.42. Cytokinetics, Incorporated has a 52 week low of $30.55 and a 52 week high of $80.20.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($1.67). The company had revenue of $19.36 million for the quarter, compared to the consensus estimate of $8.52 million. The company’s revenue was up 1112.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.36) earnings per share. On average, research analysts predict that Cytokinetics, Incorporated will post -6.27 earnings per share for the current fiscal year.

Institutional Trading of Cytokinetics

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Cytokinetics by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 12,048,131 shares of the biopharmaceutical company’s stock worth $765,538,000 after acquiring an additional 191,336 shares in the last quarter. State Street Corp raised its holdings in Cytokinetics by 3.7% during the 4th quarter. State Street Corp now owns 5,825,295 shares of the biopharmaceutical company’s stock valued at $370,139,000 after buying an additional 207,961 shares during the period. Deep Track Capital LP raised its holdings in Cytokinetics by 17.8% during the 3rd quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company’s stock valued at $236,328,000 after buying an additional 650,000 shares during the period. Geode Capital Management LLC raised its holdings in Cytokinetics by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 3,056,017 shares of the biopharmaceutical company’s stock valued at $194,214,000 after buying an additional 15,815 shares during the period. Finally, Vestal Point Capital LP raised its holdings in Cytokinetics by 14.8% during the 2nd quarter. Vestal Point Capital LP now owns 2,975,000 shares of the biopharmaceutical company’s stock valued at $98,294,000 after buying an additional 384,469 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CYTK shares. Barclays boosted their price objective on Cytokinetics from $87.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, April 6th. Wall Street Zen upgraded Cytokinetics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Bank of America reiterated a “neutral” rating on shares of Cytokinetics in a research note on Wednesday, February 25th. Wells Fargo & Company upped their price target on Cytokinetics from $95.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Stifel Nicolaus upped 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. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Cytokinetics presently has an average rating of “Moderate Buy” and an average price target of $99.30.

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.