Cytokinetics (NASDAQ:CYTK) EVP Sells $112,590.76 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 1,798 shares of Cytokinetics stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $62.62, for a total transaction of $112,590.76. Following the transaction, the executive vice president directly owned 50,440 shares in the company, valued at approximately $3,158,552.80. This represents a 3.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 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 Down 2.8%

CYTK stock traded down $1.81 during midday trading on Friday, hitting $61.73. The company’s stock had a trading volume of 1,879,705 shares, compared to its average volume of 1,990,884. The stock has a market cap of $7.55 billion, a price-to-earnings ratio of -9.81 and a beta of 0.55. The stock’s 50-day moving average price is $63.50 and its 200 day moving average price is $50.31. Cytokinetics, Incorporated has a 1 year low of $29.31 and a 1 year high of $70.98.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company’s revenue for the quarter was up 318.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.36) earnings per share. As a group, equities analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CYTK has been the topic of a number of research analyst reports. Citigroup reiterated a “market outperform” rating on shares of Cytokinetics in a research note on Monday, December 22nd. UBS Group reaffirmed a “neutral” rating and issued a $61.00 price target on shares of Cytokinetics in a report on Monday, December 1st. HC Wainwright upped their price objective on Cytokinetics from $120.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Leerink Partners set a $83.00 target price on Cytokinetics in a research report on Monday, December 22nd. Finally, B. Riley restated a “buy” rating and issued a $90.00 target price (up from $80.00) on shares of Cytokinetics in a research note on Monday, November 10th. Fifteen research 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’s stock. According to data from MarketBeat.com, Cytokinetics has a consensus rating of “Moderate Buy” and an average target price of $83.61.

Institutional Investors Weigh In On Cytokinetics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Graham Capital Management L.P. bought a new position in shares of Cytokinetics in the first quarter worth $643,000. Cutter Capital Management LP bought a new stake in shares of Cytokinetics during the 1st quarter valued at $7,033,000. Cinctive Capital Management LP purchased a new stake in Cytokinetics during the 1st quarter worth about $2,103,000. Eventide Asset Management LLC boosted its stake in Cytokinetics by 50.6% in the 1st quarter. Eventide Asset Management LLC now owns 382,696 shares of the biopharmaceutical company’s stock worth $15,382,000 after purchasing an additional 128,548 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Cytokinetics by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,918 shares of the biopharmaceutical company’s stock worth $3,032,000 after purchasing an additional 3,260 shares during the period.

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.