Cytokinetics (NASDAQ:CYTK) EVP Andrew Callos Sells 1,809 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 1,809 shares of the business’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $62.44, for a total transaction of $112,953.96. Following the completion of the transaction, the executive vice president owned 51,353 shares in the company, valued at approximately $3,206,481.32. This trade represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, December 8th, Andrew Callos sold 1,042 shares of Cytokinetics stock. The stock was sold at an average price of $65.96, for a total transaction 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 Trading Down 0.6%

NASDAQ CYTK traded down $0.38 during trading hours on Tuesday, reaching $61.37. 1,634,226 shares of the company’s stock were exchanged, compared to its average volume of 1,924,755. The firm has a fifty day moving average of $63.13 and a 200-day moving average of $49.94. Cytokinetics, Incorporated has a one year low of $29.31 and a one year high of $70.98. The stock has a market cap of $7.50 billion, a PE ratio of -9.76 and a beta of 0.58.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) EPS for the quarter, topping analysts’ consensus estimates of ($1.59) by $0.05. The business had revenue of $1.94 million during the quarter, compared to analyst estimates of $6.05 million. Cytokinetics’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 firm posted ($1.36) EPS. As a group, research analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised 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 worth $25,000 after purchasing an additional 673 shares during the period. Quarry LP acquired a new stake in Cytokinetics during the 3rd quarter worth $30,000. Advisory Services Network LLC bought a new position in Cytokinetics during the third quarter worth about $32,000. Johnson Financial Group Inc. bought a new position in Cytokinetics during the third quarter worth about $40,000. Finally, Hantz Financial Services Inc. grew its stake in Cytokinetics by 2,872.7% in the second quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 1,264 shares during the period.

Analyst Ratings Changes

A number of brokerages have weighed in on CYTK. Needham & Company LLC boosted their target price on shares of Cytokinetics from $72.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. Citizens Jmp boosted their target price on Cytokinetics from $78.00 to $88.00 and gave the stock a “market outperform” rating in a research report on Monday, December 22nd. Stifel Nicolaus upped their price target on Cytokinetics from $87.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. JMP Securities reiterated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research report on Tuesday, September 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a report on Tuesday, October 21st. Fifteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Cytokinetics currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.61.

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.