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 stock was sold at an average price of $60.28, for a total value of $904,200.00. Following the completion of the sale, 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 filing with the SEC, which can be accessed through the SEC website.

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 transaction 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.
• 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 transaction of $3,461,451.70.

Cytokinetics Trading Up 1.3%

Shares of NASDAQ CYTK opened at $65.42 on Thursday. The firm’s 50-day moving average price is $63.72 and its 200-day moving average price is $51.29. Cytokinetics, Incorporated has a 1-year low of $29.31 and a 1-year high of $70.98. The firm has a market capitalization of $8.00 billion, a P/E ratio of -10.40 and a beta of 0.55.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) EPS for the quarter, beating the consensus estimate of ($1.59) by $0.05. The firm had revenue of $1.94 million during the quarter, compared to analyst estimates of $6.05 million. During the same quarter in the prior year, the business earned ($1.36) earnings per share. The business’s quarterly revenue was up 318.1% on a year-over-year basis. Equities research analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Institutional Investors Weigh In On Cytokinetics

Institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. grew its holdings in shares of Cytokinetics by 10.6% in the third quarter. UMB Bank n.a. now owns 1,762 shares of the biopharmaceutical company’s stock valued at $97,000 after acquiring an additional 169 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Cytokinetics by 8.1% during the third quarter. CIBC Private Wealth Group LLC now owns 3,484 shares of the biopharmaceutical company’s stock worth $191,000 after acquiring an additional 261 shares during the period. Fifth Third Bancorp boosted its position in Cytokinetics by 32.3% in the third quarter. Fifth Third Bancorp now owns 1,072 shares of the biopharmaceutical company’s stock worth $59,000 after purchasing an additional 262 shares during the last quarter. Teacher Retirement System of Texas grew its stake in Cytokinetics by 1.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 30,514 shares of the biopharmaceutical company’s stock valued at $1,008,000 after purchasing an additional 341 shares during the period. Finally, KLP Kapitalforvaltning AS increased its position in shares of Cytokinetics by 1.7% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 24,000 shares of the biopharmaceutical company’s stock valued at $793,000 after purchasing an additional 400 shares during the last quarter.

Analyst Ratings Changes

Several research firms recently issued reports on CYTK. UBS Group reissued a “neutral” rating and issued a $61.00 price target on shares of Cytokinetics in a research report on Monday, December 1st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a report on Tuesday, October 21st. The Goldman Sachs Group set a $95.00 target price on shares of Cytokinetics and gave the stock a “buy” rating in a research report on Thursday, December 18th. HC Wainwright raised their price target 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. Finally, Bank of America lifted their price target on Cytokinetics from $52.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, October 2nd. Fifteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Cytokinetics presently has an average rating of “Moderate Buy” and an average price target 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.