Cytokinetics (NASDAQ:CYTK) EVP Sells $156,779.04 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 2,582 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $60.72, for a total value of $156,779.04. Following the transaction, the executive vice president directly owned 47,858 shares of the company’s stock, valued at $2,905,937.76. The trade was a 5.12% decrease in their position. The transaction 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 Thursday, March 5th, Andrew Callos sold 26,000 shares of Cytokinetics stock. The stock was 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 stock was 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 stock was 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 stock was sold at an average price of $62.62, for a total transaction 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.

Cytokinetics Stock Performance

Shares of CYTK traded up $1.78 on Tuesday, hitting $64.20. 2,114,509 shares of the stock traded hands, compared to its average volume of 1,900,180. The company has a market capitalization of $7.91 billion, a PE ratio of -9.83 and a beta of 0.56. The business has a 50 day simple moving average of $63.96 and a 200 day simple moving average of $59.89. Cytokinetics, Incorporated has a one year low of $29.31 and a one year high of $70.98.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.48) by ($0.02). The firm had revenue of $17.76 million for the quarter, compared to analysts’ expectations of $8.02 million. During the same period last year, the firm earned ($1.26) earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, equities analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Analyst Ratings Changes

CYTK has been the subject of a number of analyst reports. Leerink Partners reiterated an “outperform” rating on shares of Cytokinetics in a research note on Tuesday. Citizens Jmp boosted their price objective on Cytokinetics from $88.00 to $96.00 and gave the company a “market outperform” rating in a research report on Wednesday, February 25th. Royal Bank Of Canada upped their price objective on Cytokinetics from $95.00 to $101.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Robert W. Baird set a $84.00 target price on Cytokinetics in a research report on Tuesday. Finally, Truist Financial boosted their price target on Cytokinetics from $84.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, February 3rd. Seventeen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Cytokinetics presently has an average rating of “Moderate Buy” and an average price target of $89.00.

Institutional Trading of Cytokinetics

Several institutional investors and hedge funds have recently modified their holdings of CYTK. Lisanti Capital Growth LLC bought a new position in Cytokinetics during the 3rd quarter worth about $2,697,000. Sanders Morris Harris LLC bought a new position in Cytokinetics in the third quarter worth approximately $1,182,000. Y Intercept Hong Kong Ltd bought a new position in Cytokinetics in the third quarter worth approximately $1,359,000. Moody Aldrich Partners LLC purchased a new stake in Cytokinetics during the third quarter worth $4,532,000. Finally, Norges Bank bought a new stake in Cytokinetics during the 2nd quarter valued at $39,122,000.

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.