Andrew Callos Sells 15,000 Shares of Cytokinetics (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 15,000 shares of the stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $61.93, for a total transaction of $928,950.00. Following the transaction, the executive vice president owned 50,440 shares of the company’s stock, valued at approximately $3,123,749.20. This represents a 22.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 value of $55,020.60.
• On Monday, January 5th, Andrew Callos sold 15,000 shares of Cytokinetics stock. The shares were sold at an average price of $60.28, for a total value of $904,200.00.
• On Friday, January 2nd, Andrew Callos sold 1,798 shares of Cytokinetics stock. The shares were sold at an average price of $62.62, for a total value of $112,590.76.
• On Monday, December 29th, Andrew Callos sold 1,809 shares of Cytokinetics stock. The stock was 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 shares were sold at an average price of $65.95, for a total transaction of $3,461,451.70.

Cytokinetics Stock Performance

CYTK traded down $3.28 during trading on Thursday, reaching $60.24. 2,071,627 shares of the stock were exchanged, compared to its average volume of 1,559,518. The stock’s 50 day moving average price is $63.47 and its two-hundred day moving average price is $55.32. Cytokinetics, Incorporated has a twelve month low of $29.31 and a twelve month high of $70.98. The stock has a market cap of $7.36 billion, a P/E ratio of -9.58 and a beta of 0.54.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) EPS for the quarter, beating analysts’ consensus estimates of ($1.59) by $0.05. The firm had revenue of $1.94 million during the quarter, compared to the consensus estimate of $6.05 million. The business’s revenue was up 318.1% on a year-over-year basis. During the same period last year, the business earned ($1.36) EPS. Equities research analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cytokinetics

Several institutional investors have recently made changes to their positions in the stock. DNB Asset Management AS increased its stake in Cytokinetics by 8.5% during the 4th quarter. DNB Asset Management AS now owns 11,079 shares of the biopharmaceutical company’s stock worth $704,000 after acquiring an additional 869 shares during the period. Northwestern Mutual Investment Management Company LLC grew its holdings in shares of Cytokinetics by 2.6% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 27,355 shares of the biopharmaceutical company’s stock worth $1,738,000 after purchasing an additional 684 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Cytokinetics by 151,987.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 565,765 shares of the biopharmaceutical company’s stock worth $35,949,000 after purchasing an additional 565,393 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Cytokinetics by 1.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 24,415 shares of the biopharmaceutical company’s stock valued at $1,551,000 after purchasing an additional 300 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Cytokinetics in the fourth quarter valued at about $315,000.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CYTK. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research report on Tuesday, October 21st. Barclays initiated coverage on Cytokinetics in a report on Wednesday, January 28th. They set an “overweight” rating and a $87.00 price target for the company. Citigroup reiterated a “market outperform” rating on shares of Cytokinetics in a report on Monday, December 22nd. Morgan Stanley set a $90.00 target price on shares of Cytokinetics in a research note on Thursday, January 8th. Finally, UBS Group reaffirmed a “neutral” rating and set a $61.00 target price on shares of Cytokinetics in a report on Monday, December 1st. Seventeen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.42.

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.