Cytokinetics (NASDAQ:CYTK) EVP Andrew Callos Sells 26,000 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 26,000 shares of the firm’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $61.87, for a total value of $1,608,620.00. Following the completion of the sale, the executive vice president directly owned 50,440 shares of the company’s stock, valued at approximately $3,120,722.80. This trade represents a 34.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Thursday, February 5th, Andrew Callos sold 15,000 shares of Cytokinetics stock. The stock was 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 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 stock was 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 shares were sold at an average price of $65.95, for a total transaction of $3,461,451.70.

Cytokinetics Stock Performance

NASDAQ:CYTK traded down $0.08 during mid-day trading on Thursday, hitting $62.19. 1,535,671 shares of the company’s stock traded hands, compared to its average volume of 1,833,334. The company has a market cap of $7.66 billion, a PE ratio of -9.52 and a beta of 0.56. The firm’s 50 day simple moving average is $64.04 and its 200 day simple moving average is $59.24. Cytokinetics, Incorporated has a 1 year low of $29.31 and a 1 year high of $70.98.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.48) by ($0.02). The business had revenue of $17.76 million during the quarter, compared to the consensus estimate of $8.02 million. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned ($1.26) earnings per share. On average, research analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Institutional Trading of Cytokinetics

Several institutional investors have recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. bought a new position in shares of Cytokinetics during the fourth quarter valued at approximately $27,000. Kestra Advisory Services LLC bought a new stake in shares of Cytokinetics in the 4th quarter worth approximately $29,000. TD Waterhouse Canada Inc. acquired a new position in Cytokinetics during the 4th quarter valued at approximately $32,000. Northwestern Mutual Wealth Management Co. grew its stake in Cytokinetics by 46.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 171 shares during the last quarter. Finally, Quarry LP bought a new position in Cytokinetics during the 3rd quarter worth $30,000.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CYTK. Citigroup reaffirmed a “market outperform” rating on shares of Cytokinetics in a research report on Monday, December 22nd. Royal Bank Of Canada raised their price target on shares of Cytokinetics from $95.00 to $101.00 and gave the company an “outperform” rating in a report on Friday, February 20th. Wall Street Zen downgraded shares of Cytokinetics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytokinetics in a report on Wednesday, January 21st. Finally, HC Wainwright upped their price objective on shares of Cytokinetics from $120.00 to $136.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Seventeen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cytokinetics presently has a consensus rating of “Moderate Buy” and an average target price of $88.83.

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.