Cytokinetics (NASDAQ:CYTK) EVP Sells $156,779.04 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 2,582 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $60.72, for a total value of $156,779.04. Following the sale, the executive vice president directly owned 47,858 shares in the company, valued at $2,905,937.76. This trade represents a 5.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• 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.
• On Thursday, February 5th, Andrew Callos sold 15,000 shares of Cytokinetics stock. The shares were sold at an average price of $61.93, for a total value of $928,950.00.
• 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 transaction of $55,020.60.
• On Monday, January 5th, Andrew Callos sold 15,000 shares of Cytokinetics stock. The stock was 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 shares were 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 transaction of $112,953.96.

Cytokinetics Stock Up 2.9%

Shares of NASDAQ CYTK traded up $1.78 during mid-day trading on Tuesday, reaching $64.20. 2,114,509 shares of the company were exchanged, compared to its average volume of 1,900,180. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $70.98. The stock has a market capitalization of $7.91 billion, a PE ratio of -9.83 and a beta of 0.56. The company’s 50 day moving average price is $63.96 and its 200 day moving average price is $59.89.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) EPS for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.02). The company had revenue of $17.76 million during the quarter, compared to analyst estimates of $8.02 million. During the same quarter in the previous year, the company posted ($1.26) earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CYTK shares. Robert W. Baird set a $84.00 price objective on Cytokinetics in a research report on Tuesday. HC Wainwright boosted their target price on Cytokinetics from $120.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Leerink Partners reiterated an “outperform” rating on shares of Cytokinetics in a research report on Tuesday. Citigroup reissued a “market outperform” rating on shares of Cytokinetics in a research note on Monday, December 22nd. Finally, UBS Group boosted their price objective on shares of Cytokinetics from $61.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday. Seventeen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Cytokinetics currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.00.

Institutional Investors Weigh In On Cytokinetics

Several institutional investors have recently bought and sold shares of CYTK. Lisanti Capital Growth LLC purchased a new position in shares of Cytokinetics in the third quarter worth $2,697,000. Sanders Morris Harris LLC purchased a new stake in Cytokinetics during the 3rd quarter valued at $1,182,000. Y Intercept Hong Kong Ltd bought a new stake in Cytokinetics in the 3rd quarter worth $1,359,000. Moody Aldrich Partners LLC bought a new stake in Cytokinetics in the 3rd quarter worth $4,532,000. Finally, Norges Bank purchased a new position in shares of Cytokinetics in the second quarter valued at about $39,122,000.

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.