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

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 15,000 shares of Cytokinetics stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $74.08, for a total value of $1,111,200.00. Following the transaction, the executive vice president directly owned 58,555 shares in the company, valued at approximately $4,337,754.40. The trade was a 20.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 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 shares were sold at an average price of $66.02, for a total transaction of $491,782.98.
• On Wednesday, March 18th, Andrew Callos sold 1,930 shares of Cytokinetics stock. The stock was sold at an average price of $62.07, for a total transaction of $119,795.10.
• On Tuesday, March 17th, Andrew Callos sold 8,542 shares of Cytokinetics stock. The stock was sold at an average price of $62.15, for a total transaction of $530,885.30.
• On Monday, March 16th, Andrew Callos sold 1,709 shares of Cytokinetics stock. The shares were sold at an average price of $61.03, for a total value of $104,300.27.
• On Monday, March 9th, Andrew Callos sold 2,582 shares of Cytokinetics stock. The stock was sold at an average price of $60.72, for a total value of $156,779.04.
• 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 value of $1,608,620.00.

Cytokinetics Stock Down 4.0%

Shares of NASDAQ CYTK opened at $73.68 on Tuesday. Cytokinetics, Incorporated has a 12 month low of $30.55 and a 12 month high of $80.20. The company has a market cap of $9.17 billion, a price-to-earnings ratio of -10.77 and a beta of 0.42. The business has a fifty day simple moving average of $69.17 and a 200-day simple moving average of $65.80.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly 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 company had revenue of $19.36 million during the quarter, compared to analysts’ expectations of $8.52 million. During the same period in the prior year, the business posted ($1.36) EPS. The company’s revenue for the quarter was up 1112.5% compared to the same quarter last year. As a group, sell-side analysts expect that Cytokinetics, Incorporated will post -6.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CYTK shares. Citizens Jmp raised their price objective on shares of Cytokinetics from $88.00 to $96.00 and gave the stock a “market outperform” rating in a research note on Wednesday, February 25th. Robert W. Baird set a $84.00 target price on shares of Cytokinetics in a research note on Tuesday, March 10th. HC Wainwright increased their target price on Cytokinetics from $136.00 to $140.00 and gave the company a “buy” rating in a report on Monday, May 11th. Wells Fargo & Company raised their target price on Cytokinetics from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada lifted their price target on Cytokinetics from $101.00 to $119.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $99.30.

Institutional Investors Weigh In On Cytokinetics

Several large investors have recently made changes to their positions in the company. 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 acquiring an additional 673 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in Cytokinetics in the fourth quarter worth approximately $27,000. Kestra Advisory Services LLC acquired a new position in shares of Cytokinetics during the 4th quarter worth $29,000. Quarry LP acquired a new position in shares of Cytokinetics during the 3rd quarter worth $30,000. Finally, TD Waterhouse Canada Inc. bought a new position in shares of Cytokinetics during the 4th quarter valued at $32,000.

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.