Insider Selling: Cytokinetics (NASDAQ:CYTK) EVP Sells $119,795.10 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 1,930 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $62.07, for a total value of $119,795.10. Following the completion of the sale, the executive vice president directly owned 78,185 shares of the company’s stock, valued at approximately $4,852,942.95. This trade represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, March 17th, Andrew Callos sold 8,542 shares of Cytokinetics stock. The stock was sold at an average price of $62.15, for a total value of $530,885.30.
• On Monday, March 16th, Andrew Callos sold 1,709 shares of Cytokinetics stock. The stock was sold at an average price of $61.03, for a total value of $104,300.27.
• On Monday, March 9th, Andrew Callos sold 2,582 shares of Cytokinetics stock. The shares were sold at an average price of $60.72, for a total value of $156,779.04.
• 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 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 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 shares were sold at an average price of $60.28, for a total transaction 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 transaction 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 transaction of $112,953.96.

Cytokinetics Stock Performance

Shares of Cytokinetics stock opened at $61.70 on Friday. 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 $7.60 billion, a P/E ratio of -9.45 and a beta of 0.56. The company’s fifty day moving average is $63.77 and its two-hundred day moving average is $61.13.

Cytokinetics (NASDAQ:CYTK) last announced 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 firm had revenue of $17.76 million for the quarter, compared to analyst estimates of $8.02 million. During the same period last year, the firm earned ($1.26) earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. As a group, equities analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on CYTK shares. The Goldman Sachs Group set a $95.00 price objective on Cytokinetics and gave the company a “buy” rating in a research note on Thursday, December 18th. UBS Group lifted their target price on Cytokinetics from $61.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, March 6th. HC Wainwright boosted their target price on Cytokinetics from $120.00 to $136.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Needham & Company LLC upped their price target on Cytokinetics from $84.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Finally, Citizens Jmp increased their price target on Cytokinetics from $88.00 to $96.00 and gave the stock a “market outperform” rating in a report on Wednesday, February 25th. Seventeen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Cytokinetics currently has an average rating of “Moderate Buy” and a consensus target price of $89.89.

Institutional Investors Weigh In On Cytokinetics

A number of institutional investors have recently added to or reduced their stakes in CYTK. Lisanti Capital Growth LLC purchased a new stake in shares of Cytokinetics in the third quarter valued at approximately $2,697,000. Sanders Morris Harris LLC purchased a new position in Cytokinetics in the third quarter worth $1,182,000. Y Intercept Hong Kong Ltd purchased a new position in Cytokinetics in the third quarter worth $1,359,000. Moody Aldrich Partners LLC acquired a new stake in Cytokinetics in the third quarter valued at $4,532,000. Finally, Norges Bank acquired a new stake in Cytokinetics in the second quarter valued at $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.