Cytokinetics (NASDAQ:CYTK) EVP Sells $904,200.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $60.28, for a total value of $904,200.00. Following the completion of the sale, the executive vice president owned 50,440 shares in the company, valued at approximately $3,040,523.20. This represents a 22.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 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 shares were sold at an average price of $65.95, for a total transaction of $3,461,451.70.

Cytokinetics Price Performance

Shares of CYTK stock traded down $0.47 during trading on Monday, reaching $61.26. The company’s stock had a trading volume of 2,344,188 shares, compared to its average volume of 2,111,941. The company has a market capitalization of $7.49 billion, a price-to-earnings ratio of -9.74 and a beta of 0.55. Cytokinetics, Incorporated has a 1-year low of $29.31 and a 1-year high of $70.98. The stock’s 50-day moving average price is $63.58 and its 200 day moving average price is $50.76.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.59) by $0.05. The firm had revenue of $1.94 million during the quarter, compared to analysts’ expectations of $6.05 million. The firm’s revenue was up 318.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.36) EPS. On average, sell-side analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Institutional Trading of Cytokinetics

Several large investors have recently bought and sold shares of the company. Sanders Morris Harris LLC acquired a new position in Cytokinetics during the 3rd quarter worth $1,182,000. Norges Bank bought a new position in shares of Cytokinetics during the second quarter worth about $39,122,000. Moody Aldrich Partners LLC acquired a new position in Cytokinetics in the third quarter worth about $4,532,000. Aberdeen Group plc increased its holdings in Cytokinetics by 53.2% in the second quarter. Aberdeen Group plc now owns 922,929 shares of the biopharmaceutical company’s stock valued at $30,494,000 after buying an additional 320,508 shares during the last quarter. Finally, Zweig DiMenna Associates LLC acquired a new stake in Cytokinetics during the second quarter valued at approximately $1,176,000.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CYTK. Citigroup restated a “market outperform” rating on shares of Cytokinetics in a research note on Monday, December 22nd. Royal Bank Of Canada raised their price target on Cytokinetics from $87.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, December 22nd. Needham & Company LLC boosted their price objective on Cytokinetics from $72.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Leerink Partners set a $83.00 price objective on Cytokinetics in a report on Monday, December 22nd. Finally, Bank of America lifted their target price on shares of Cytokinetics from $52.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, October 2nd. Fifteen 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 data from MarketBeat.com, the stock currently has an average 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.