Cytokinetics (NASDAQ:CYTK) EVP Andrew Callos Sells 7,449 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 7,449 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $66.02, for a total transaction of $491,782.98. Following the transaction, the executive vice president directly owned 58,555 shares of the company’s stock, valued at approximately $3,865,801.10. This trade represents a 11.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, March 18th, Andrew Callos sold 1,930 shares of Cytokinetics stock. The stock was sold at an average price of $62.07, for a total transaction of $119,795.10.
• 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 transaction 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 transaction of $104,300.27.
• On Monday, March 9th, Andrew Callos sold 2,582 shares of Cytokinetics stock. The stock was sold at an average price of $60.72, for a total transaction 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 transaction of $1,608,620.00.
• On Thursday, February 5th, Andrew Callos sold 15,000 shares of Cytokinetics stock. The shares were 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.

Cytokinetics Stock Down 1.5%

Shares of NASDAQ:CYTK traded down $0.98 during trading on Wednesday, reaching $65.37. The stock had a trading volume of 1,259,875 shares, compared to its average volume of 1,889,537. The business has a fifty day moving average price of $63.97 and a 200-day moving average price of $63.03. The stock has a market cap of $8.05 billion, a P/E ratio of -10.01 and a beta of 0.47. Cytokinetics, Incorporated has a fifty-two week low of $29.31 and a fifty-two week high of $70.98.

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 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. Cytokinetics’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted ($1.26) earnings per share. As a group, equities analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CYTK. EverSource Wealth Advisors LLC boosted its holdings in Cytokinetics by 723.7% in the second quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 673 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in Cytokinetics in the fourth quarter valued at $27,000. Kestra Advisory Services LLC acquired a new position in Cytokinetics in the fourth quarter valued at $29,000. Quarry LP acquired a new position in Cytokinetics in the third quarter valued at $30,000. Finally, TD Waterhouse Canada Inc. acquired a new position in Cytokinetics in the fourth quarter valued at $32,000.

Analysts Set New Price Targets

CYTK has been the subject of a number of analyst reports. Needham & Company LLC boosted their price objective on shares of Cytokinetics from $84.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Morgan Stanley set a $90.00 price objective on shares of Cytokinetics in a research report on Thursday, January 8th. Barclays boosted their price objective on shares of Cytokinetics from $87.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, April 6th. Wells Fargo & Company started coverage on shares of Cytokinetics in a research note on Friday, April 10th. They set an “overweight” rating and a $95.00 price target on the stock. Finally, Mizuho lifted their price target on shares of Cytokinetics from $84.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, March 18th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.55.

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.