Cytokinetics (NASDAQ:CYTK) EVP Sells $68,730.32 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 1,042 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $65.96, for a total transaction of $68,730.32. Following the sale, the executive vice president owned 50,660 shares of the company’s stock, valued at approximately $3,341,533.60. The trade was a 2.02% decrease in their position. 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 Friday, December 5th, Andrew Callos sold 52,486 shares of Cytokinetics stock. The shares were sold at an average price of $65.95, for a total value of $3,461,451.70.

Cytokinetics Price Performance

NASDAQ:CYTK opened at $60.31 on Thursday. The company has a market capitalization of $7.37 billion, a P/E ratio of -9.59 and a beta of 0.58. The business has a fifty day simple moving average of $62.35 and a two-hundred day simple moving average of $47.02. Cytokinetics, Incorporated has a 1 year low of $29.31 and a 1 year high of $69.33.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, topping the consensus estimate of ($1.59) by $0.05. The firm had revenue of $1.94 million for the quarter, compared to the consensus estimate of $6.05 million. During the same quarter in the previous year, the company posted ($1.36) EPS. The firm’s revenue was up 318.1% compared to the same quarter last year. As a group, analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on CYTK. Wall Street Zen downgraded shares of Cytokinetics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Barclays lifted their price objective on shares of Cytokinetics from $71.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Needham & Company LLC restated a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research report on Tuesday, September 2nd. Evercore ISI lifted their price target on Cytokinetics from $60.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, September 3rd. Finally, UBS Group reiterated a “neutral” rating and set a $61.00 price objective on shares of Cytokinetics in a research note on Monday, December 1st. Thirteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.29.

Hedge Funds Weigh In On Cytokinetics

A number of institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers grew its holdings in shares of Cytokinetics by 29.7% during the first quarter. Cetera Investment Advisers now owns 5,904 shares of the biopharmaceutical company’s stock worth $237,000 after purchasing an additional 1,353 shares in the last quarter. US Bancorp DE lifted its position in Cytokinetics by 38.7% during the first quarter. US Bancorp DE now owns 2,410 shares of the biopharmaceutical company’s stock valued at $97,000 after purchasing an additional 672 shares during the last quarter. Ontario Teachers Pension Plan Board grew its stake in Cytokinetics by 38.9% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 14,943 shares of the biopharmaceutical company’s stock worth $601,000 after buying an additional 4,185 shares in the last quarter. Cynosure Group LLC increased its holdings in shares of Cytokinetics by 34.3% in the 1st quarter. Cynosure Group LLC now owns 7,788 shares of the biopharmaceutical company’s stock worth $313,000 after buying an additional 1,988 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Cytokinetics by 1,053.0% in the 1st quarter. Covestor Ltd now owns 1,914 shares of the biopharmaceutical company’s stock worth $77,000 after buying an additional 1,748 shares during the last quarter.

About Cytokinetics

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.