Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells 8,659 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 8,659 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $32.04, for a total transaction of $277,434.36. Following the completion of the sale, the executive vice president now owns 52,028 shares in the company, valued at $1,666,977.12. This represents a 14.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Monday, May 5th, Andrew Callos sold 4,002 shares of Cytokinetics stock. The stock was sold at an average price of $36.68, for a total transaction of $146,793.36.
• On Monday, April 7th, Andrew Callos sold 2,886 shares of Cytokinetics stock. The stock was sold at an average price of $35.78, for a total transaction of $103,261.08.
• On Monday, March 17th, Andrew Callos sold 2,775 shares of Cytokinetics stock. The stock was sold at an average price of $44.38, for a total transaction of $123,154.50.
• On Friday, March 14th, Andrew Callos sold 100 shares of Cytokinetics stock. The stock was sold at an average price of $45.00, for a total transaction of $4,500.00.

Cytokinetics Stock Up 0.7%

CYTK opened at $32.30 on Friday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. Cytokinetics, Incorporated has a fifty-two week low of $29.31 and a fifty-two week high of $61.38. The firm’s fifty day moving average is $35.24 and its 200 day moving average is $42.95. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of -6.00 and a beta of 0.59.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.41) by $0.05. The firm had revenue of $1.60 million for the quarter, compared to analysts’ expectations of $2.77 million. The firm’s quarterly revenue was up 89.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.33) EPS. On average, sell-side analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Institutional Trading of Cytokinetics

Hedge funds have recently bought and sold shares of the stock. Harvey Capital Management Inc. purchased a new stake in Cytokinetics in the 4th quarter worth $1,040,000. Raymond James Financial Inc. bought a new position in Cytokinetics during the 4th quarter valued at about $254,000. abrdn plc raised its stake in shares of Cytokinetics by 29.4% during the fourth quarter. abrdn plc now owns 450,513 shares of the biopharmaceutical company’s stock valued at $21,192,000 after acquiring an additional 102,457 shares in the last quarter. AlphaQuest LLC grew its stake in Cytokinetics by 113,500.0% in the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 1,135 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Cytokinetics by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock worth $560,520,000 after purchasing an additional 154,216 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Barclays dropped their price target on shares of Cytokinetics from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. JMP Securities reiterated a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a research note on Thursday, April 10th. Bank of America dropped their price target on shares of Cytokinetics from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Cantor Fitzgerald upgraded shares of Cytokinetics to a “strong-buy” rating in a research note on Tuesday, May 13th. Finally, Mizuho dropped their price target on shares of Cytokinetics from $103.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, May 29th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $72.31.

Cytokinetics Company Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.