Insider Selling: Cytokinetics (NASDAQ:CYTK) EVP Sells 26,000 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 26,000 shares of Cytokinetics stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $61.87, for a total transaction of $1,608,620.00. Following the completion of the sale, the executive vice president owned 50,440 shares in the company, valued at approximately $3,120,722.80. This represents a 34.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 transaction of $928,950.00.
• On Monday, February 2nd, Andrew Callos sold 886 shares of Cytokinetics stock. The shares were 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 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 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 shares were 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 stock was sold at an average price of $65.95, for a total value of $3,461,451.70.

Cytokinetics Stock Performance

Shares of NASDAQ:CYTK traded down $0.08 on Thursday, hitting $62.19. The company’s stock had a trading volume of 1,535,671 shares, compared to its average volume of 1,833,334. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of -9.52 and a beta of 0.56. Cytokinetics, Incorporated has a 12 month low of $29.31 and a 12 month high of $70.98. The stock’s 50-day moving average is $64.04 and its two-hundred day moving average is $59.24.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data 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 company had revenue of $17.76 million for the quarter, compared to analyst estimates of $8.02 million. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.26) earnings per share. Equities analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cytokinetics

Hedge funds have recently modified their holdings of the stock. Bank of Montreal Can lifted its position in shares of Cytokinetics by 1.2% in the fourth quarter. Bank of Montreal Can now owns 13,292 shares of the biopharmaceutical company’s stock worth $845,000 after purchasing an additional 160 shares in the last quarter. Kennedy Capital Management LLC increased its stake in Cytokinetics by 1.2% in the 4th quarter. Kennedy Capital Management LLC now owns 13,183 shares of the biopharmaceutical company’s stock valued at $838,000 after buying an additional 162 shares during the period. UMB Bank n.a. lifted its position in Cytokinetics by 10.6% in the 3rd quarter. UMB Bank n.a. now owns 1,762 shares of the biopharmaceutical company’s stock worth $97,000 after buying an additional 169 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Cytokinetics by 46.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 171 shares during the period. Finally, Vident Advisory LLC grew its holdings in shares of Cytokinetics by 1.4% during the 4th quarter. Vident Advisory LLC now owns 16,455 shares of the biopharmaceutical company’s stock valued at $1,046,000 after acquiring an additional 234 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CYTK. B. Riley Financial raised their price objective on shares of Cytokinetics from $90.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Citigroup reaffirmed a “market outperform” rating on shares of Cytokinetics in a research note on Monday, December 22nd. Truist Financial boosted their price objective on Cytokinetics from $84.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, February 3rd. Jefferies Financial Group restated a “buy” rating and issued a $90.00 price objective on shares of Cytokinetics in a report on Friday, January 9th. Finally, Wall Street Zen lowered Cytokinetics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.83.

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.