Insider Selling: Cytokinetics (NASDAQ:CYTK) EVP Sells $1,111,200.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 15,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $74.08, for a total transaction of $1,111,200.00. Following the sale, the executive vice president owned 58,555 shares of the company’s stock, valued at $4,337,754.40. This trade represents a 20.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 Friday, May 1st, Andrew Callos sold 15,857 shares of Cytokinetics stock. The stock was 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 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 stock was sold at an average price of $61.03, for a total transaction 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 transaction 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 transaction of $1,608,620.00.

Cytokinetics Stock Down 0.3%

NASDAQ CYTK opened at $70.71 on Thursday. The stock has a market capitalization of $8.80 billion, a P/E ratio of -10.34 and a beta of 0.42. Cytokinetics, Incorporated has a 52-week low of $31.52 and a 52-week high of $80.20. The firm has a 50-day moving average price of $69.55 and a 200 day moving average price of $65.87.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($1.67). The firm had revenue of $19.36 million for the quarter, compared to analysts’ expectations of $8.52 million. The company’s revenue for the quarter was up 1112.5% on a year-over-year basis. During the same period in the prior year, the company earned ($1.36) earnings per share. On average, equities research analysts expect that Cytokinetics, Incorporated will post -6.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Kemnay Advisory Services Inc. purchased a new position in shares of Cytokinetics during the 4th quarter worth approximately $27,000. Kestra Advisory Services LLC purchased a new position in shares of Cytokinetics during the 4th quarter worth approximately $29,000. TD Waterhouse Canada Inc. purchased a new position in shares of Cytokinetics during the 4th quarter worth approximately $32,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Cytokinetics by 46.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 171 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Cytokinetics during the 3rd quarter worth approximately $30,000.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CYTK shares. Royal Bank Of Canada raised their target price on Cytokinetics from $101.00 to $119.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cytokinetics in a report on Monday, April 20th. Barclays upped their target price on shares of Cytokinetics from $87.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, April 6th. Stifel Nicolaus upped their target price on shares of Cytokinetics from $98.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Leerink Partners restated an “outperform” rating on shares of Cytokinetics in a research report on Tuesday, March 10th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $99.30.

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.