Cytokinetics (NASDAQ:CYTK) EVP Sells $1,287,000.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 15,000 shares of Cytokinetics stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $85.80, for a total transaction of $1,287,000.00. Following the transaction, the executive vice president owned 58,555 shares of the company’s stock, valued at approximately $5,024,019. The trade was a 20.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 1st, Andrew Callos sold 15,000 shares of Cytokinetics stock. The shares were sold at an average price of $74.08, for a total transaction of $1,111,200.00.
• On Friday, May 1st, Andrew Callos sold 15,857 shares of Cytokinetics stock. The shares were sold at an average price of $65.00, for a total transaction of $1,030,705.00.
• On Thursday, April 30th, Andrew Callos sold 15,000 shares of Cytokinetics stock. The stock was sold at an average price of $63.26, for a total transaction of $948,900.00.
• On Wednesday, April 15th, Andrew Callos sold 7,449 shares of Cytokinetics stock. The stock was sold at an average price of $66.02, for a total value of $491,782.98.

Cytokinetics Stock Performance

CYTK stock opened at $86.49 on Friday. Cytokinetics, Incorporated has a 1 year low of $32.89 and a 1 year high of $88.31. The stock’s 50 day moving average price is $74.97 and its 200 day moving average price is $67.74. The firm has a market cap of $10.76 billion, a P/E ratio of -12.64 and a beta of 0.42.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) EPS for the quarter, meeting analysts’ consensus estimates of ($1.67). The company had revenue of $19.36 million for the quarter, compared to analyst estimates of $8.52 million. Cytokinetics’s quarterly revenue was up 1112.5% compared to the same quarter last year. During the same quarter last year, the company posted ($1.36) EPS. On average, research analysts predict that Cytokinetics, Incorporated will post -6.26 earnings per share for the current year.

Institutional Investors Weigh In On Cytokinetics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Cytokinetics by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 12,048,131 shares of the biopharmaceutical company’s stock valued at $765,538,000 after buying an additional 191,336 shares during the period. Hudson Bay Capital Management LP lifted its holdings in shares of Cytokinetics by 15.4% during the 3rd quarter. Hudson Bay Capital Management LP now owns 182,131 shares of the biopharmaceutical company’s stock worth $10,010,000 after acquiring an additional 24,345 shares during the period. Knott David M Jr purchased a new position in shares of Cytokinetics during the 3rd quarter worth about $1,649,000. Boxer Capital Management LLC acquired a new stake in shares of Cytokinetics in the third quarter worth approximately $10,992,000. Finally, Cinctive Capital Management LP acquired a new stake in shares of Cytokinetics in the third quarter worth approximately $5,806,000.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CYTK shares. Needham & Company LLC reiterated a “buy” rating and set a $102.00 price objective on shares of Cytokinetics in a research report on Wednesday, June 17th. Truist Financial set a $106.00 target price on shares of Cytokinetics in a report on Tuesday, May 5th. Leerink Partners reaffirmed an “outperform” rating on shares of Cytokinetics in a research note on Tuesday, March 10th. Robert W. Baird set a $84.00 price target on shares of Cytokinetics in a report on Tuesday, March 10th. Finally, Wells Fargo & Company lifted their price target on shares of Cytokinetics from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $100.00.

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.