Cytokinetics (NASDAQ:CYTK) EVP Sells $112,953.96 in Stock

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

Shares of Cytokinetics stock traded down $0.38 on Tuesday, hitting $61.37. The company had a trading volume of 1,634,226 shares, compared to its average volume of 1,924,755. The stock has a 50-day moving average of $63.13 and a 200-day moving average of $49.94. Cytokinetics, Incorporated has a twelve month low of $29.31 and a twelve month high of $70.98. The firm has a market capitalization of $7.50 billion, a P/E ratio of -9.76 and a beta of 0.58.

Cytokinetics (NASDAQ:CYTK) last issued 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 company had revenue of $1.94 million for the quarter, compared to analyst estimates of $6.05 million. The company’s revenue was up 318.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.36) earnings per share. Equities analysts predict 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 modified their holdings of CYTK. HighTower Advisors LLC raised its holdings in shares of Cytokinetics by 21.8% in the 1st quarter. HighTower Advisors LLC now owns 11,352 shares of the biopharmaceutical company’s stock valued at $456,000 after purchasing an additional 2,029 shares during the period. Gabelli Funds LLC raised its stake in Cytokinetics by 30.0% in the first quarter. Gabelli Funds LLC now owns 6,500 shares of the biopharmaceutical company’s stock valued at $261,000 after buying an additional 1,500 shares during the period. Graham Capital Management L.P. bought a new position in shares of Cytokinetics during the 1st quarter worth approximately $643,000. Vestal Point Capital LP increased its holdings in shares of Cytokinetics by 10.2% during the 1st quarter. Vestal Point Capital LP now owns 2,590,531 shares of the biopharmaceutical company’s stock worth $104,113,000 after acquiring an additional 240,531 shares during the last quarter. Finally, Allostery Investments LP raised its stake in Cytokinetics by 7.7% in the 1st quarter. Allostery Investments LP now owns 70,000 shares of the biopharmaceutical company’s stock valued at $2,813,000 after acquiring an additional 5,000 shares during the period.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Truist Financial set a $84.00 price objective on Cytokinetics in a report on Monday, December 22nd. Barclays raised their price target on shares of Cytokinetics from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Monday, December 22nd. Citigroup reissued a “market outperform” rating on shares of Cytokinetics in a research report on Monday, December 22nd. Evercore ISI increased their target price on shares of Cytokinetics from $60.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, September 3rd. Finally, Royal Bank Of Canada lifted their price target on shares of Cytokinetics from $87.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, December 22nd. Fifteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.61.

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.