Cytokinetics (NASDAQ:CYTK) EVP Sells $904,200.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 15,000 shares of Cytokinetics stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $60.28, for a total value of $904,200.00. Following the completion of the transaction, the executive vice president owned 50,440 shares of the company’s stock, valued at approximately $3,040,523.20. The trade was a 22.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• 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 stock was 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 stock was sold at an average price of $65.96, for a total transaction 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 Down 0.8%

Shares of Cytokinetics stock traded down $0.47 during trading on Monday, hitting $61.26. The stock had a trading volume of 2,344,188 shares, compared to its average volume of 2,111,941. The stock has a 50 day simple moving average of $63.58 and a 200 day simple moving average of $50.76. Cytokinetics, Incorporated has a 1 year low of $29.31 and a 1 year high of $70.98. The company has a market capitalization of $7.49 billion, a PE ratio of -9.74 and a beta of 0.55.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.59) by $0.05. The business 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 prior year, the firm posted ($1.36) EPS. As a group, equities analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its position in shares of Cytokinetics by 723.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 673 shares in the last quarter. Quarry LP bought a new stake in Cytokinetics during the 3rd quarter worth about $30,000. Advisory Services Network LLC acquired a new stake in Cytokinetics during the 3rd quarter worth $32,000. Johnson Financial Group Inc. bought a new position in Cytokinetics during the third quarter worth about $40,000. Finally, Hantz Financial Services Inc. increased its stake in Cytokinetics by 2,872.7% in the second quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 1,264 shares in the last quarter.

Wall Street Analysts Forecast Growth

CYTK has been the topic of a number of research reports. Morgan Stanley upped their price target on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, December 22nd. Leerink Partners set a $83.00 price target on Cytokinetics in a research note on Monday, December 22nd. B. Riley reissued a “buy” rating and issued a $90.00 price target (up previously from $80.00) on shares of Cytokinetics in a research note on Monday, November 10th. Bank of America raised their price objective on shares of Cytokinetics from $52.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, October 2nd. Finally, Citigroup restated a “market outperform” rating on shares of Cytokinetics in a research note on Monday, December 22nd. Fifteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.61.

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.