Cytokinetics (NASDAQ:CYTK) EVP Andrew Callos Sells 14,000 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 14,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $79.88, for a total transaction of $1,118,320.00. Following the transaction, the executive vice president directly owned 58,555 shares in the company, valued at approximately $4,677,373.40. The trade was a 19.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 Wednesday, July 1st, Andrew Callos sold 15,000 shares of Cytokinetics stock. The shares were sold at an average price of $85.80, for a total transaction of $1,287,000.00.
• On Monday, June 1st, Andrew Callos sold 15,000 shares of Cytokinetics stock. The stock was sold at an average price of $74.08, for a total transaction of $1,111,200.00.
• 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.

Cytokinetics Stock Up 2.6%

NASDAQ:CYTK traded up $2.03 on Thursday, hitting $80.42. The stock had a trading volume of 2,091,958 shares, compared to its average volume of 2,176,096. The stock has a market cap of $10.01 billion, a price-to-earnings ratio of -11.76 and a beta of 0.42. The company has a fifty day moving average price of $78.70 and a two-hundred day moving average price of $70.21. Cytokinetics, Incorporated has a 1-year low of $32.89 and a 1-year high of $88.31.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, meeting the consensus estimate of ($1.67). The firm had revenue of $19.36 million during the quarter, compared to analysts’ expectations of $8.52 million. The business’s quarterly revenue was up 1112.5% on a year-over-year basis. During the same period last year, the company earned ($1.36) EPS. As a group, analysts anticipate that Cytokinetics, Incorporated will post -6.2 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on CYTK shares. Barclays raised 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. Truist Financial set a $106.00 price target on Cytokinetics in a research note on Tuesday, May 5th. Wells Fargo & Company increased their price target on Cytokinetics from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Wall Street Zen raised Cytokinetics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cytokinetics in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $99.90.

Hedge Funds Weigh In On Cytokinetics

A number of hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its position in Cytokinetics by 723.7% in 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 during the period. Kemnay Advisory Services Inc. purchased a new position in shares of Cytokinetics during the fourth quarter worth $27,000. Kestra Advisory Services LLC purchased a new position in shares of Cytokinetics during the fourth quarter worth $29,000. Quarry LP acquired a new stake in shares of Cytokinetics in the third quarter valued at $30,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in shares of Cytokinetics in the fourth 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.