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

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $85.80, for a total value of $1,287,000.00. Following the completion of the transaction, the executive vice president owned 58,555 shares of the company’s stock, valued at approximately $5,024,019. This represents a 20.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value 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 value 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 shares were sold at an average price of $66.02, for a total transaction of $491,782.98.

Cytokinetics Stock Performance

CYTK stock opened at $86.49 on Friday. The firm has a 50 day moving average of $74.97 and a 200-day moving average of $67.74. The firm has a market capitalization of $10.76 billion, a P/E ratio of -12.64 and a beta of 0.42. Cytokinetics, Incorporated has a 12 month low of $32.89 and a 12 month high of $88.31.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, hitting analysts’ consensus estimates of ($1.67). The firm had revenue of $19.36 million for the quarter, compared to the consensus estimate of $8.52 million. During the same period last year, the company posted ($1.36) EPS. The business’s revenue was up 1112.5% on a year-over-year basis. Sell-side analysts predict that Cytokinetics, Incorporated will post -6.26 EPS for the current year.

Hedge Funds Weigh In On Cytokinetics

Institutional investors have recently made changes to their positions in the stock. Millennium Management LLC lifted its holdings in shares of Cytokinetics by 361.9% during the 1st quarter. Millennium Management LLC now owns 287,901 shares of the biopharmaceutical company’s stock worth $11,571,000 after acquiring an additional 225,576 shares during the last quarter. Cetera Investment Advisers increased its stake in Cytokinetics by 12.4% in the second quarter. Cetera Investment Advisers now owns 6,635 shares of the biopharmaceutical company’s stock valued at $219,000 after acquiring an additional 731 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Cytokinetics by 723.7% during the second quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 673 shares in the last quarter. Gabelli Funds LLC raised its position in Cytokinetics by 29.4% during the second quarter. Gabelli Funds LLC now owns 8,410 shares of the biopharmaceutical company’s stock valued at $278,000 after purchasing an additional 1,910 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in Cytokinetics by 10.8% during the second quarter. California Public Employees Retirement System now owns 142,602 shares of the biopharmaceutical company’s stock worth $4,712,000 after purchasing an additional 13,911 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CYTK. Wells Fargo & Company upped 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. Leerink Partners reissued an “outperform” rating on shares of Cytokinetics in a research note on Tuesday, March 10th. Citigroup assumed coverage on Cytokinetics in a research report on Monday, May 18th. They set a “buy” rating and a $99.00 target price for the company. Morgan Stanley upped their target price on Cytokinetics from $90.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Barclays upped their target price on Cytokinetics from $87.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, April 6th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.