Cytokinetics (NASDAQ:CYTK) EVP Andrew Callos Sells 1,809 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 1,809 shares of Cytokinetics stock in a transaction on Monday, December 29th. The stock was sold at an average price of $62.44, for a total transaction of $112,953.96. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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 transaction of $68,730.32.
• On Friday, December 5th, Andrew Callos sold 52,486 shares of Cytokinetics stock. The stock was sold at an average price of $65.95, for a total value of $3,461,451.70.

Cytokinetics Stock Performance

Shares of Cytokinetics stock opened at $61.37 on Wednesday. The firm has a market cap of $7.50 billion, a P/E ratio of -9.76 and a beta of 0.58. Cytokinetics, Incorporated has a twelve month low of $29.31 and a twelve month high of $70.98. The firm’s 50-day simple moving average is $63.21 and its 200-day simple moving average is $50.13.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.59) by $0.05. The firm had revenue of $1.94 million for the quarter, compared to the consensus estimate of $6.05 million. During the same period in the prior year, the business earned ($1.36) earnings per share. The company’s revenue for the quarter was up 318.1% on a year-over-year basis. On average, equities analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on CYTK. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a report on Tuesday, October 21st. Wall Street Zen cut Cytokinetics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Bank of America lifted their price objective on shares of Cytokinetics from $52.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, October 2nd. Leerink Partners set a $83.00 target price on Cytokinetics in a report on Monday, December 22nd. Finally, The Goldman Sachs Group set a $95.00 price objective on shares of Cytokinetics and gave the stock a “buy” rating in a research report on Thursday, December 18th. Fifteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.61.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its stake in shares of Cytokinetics by 723.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 673 shares in the last quarter. Quarry LP bought a new position in Cytokinetics in the 3rd quarter worth about $30,000. Advisory Services Network LLC bought a new position in shares of Cytokinetics in the third quarter valued at approximately $32,000. Johnson Financial Group Inc. purchased a new position in shares of Cytokinetics during the 3rd quarter valued at $40,000. Finally, Hantz Financial Services Inc. grew its position in Cytokinetics by 2,872.7% during the second quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 1,264 shares in the last quarter.

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.