Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells 2,775 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 2,775 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $44.38, for a total value of $123,154.50. Following the sale, the executive vice president now owns 34,888 shares of the company’s stock, valued at approximately $1,548,329.44. This represents a 7.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Andrew Callos also recently made the following trade(s):

• On Friday, March 14th, Andrew Callos sold 100 shares of Cytokinetics stock. The stock was sold at an average price of $45.00, for a total transaction of $4,500.00.
• On Thursday, March 6th, Andrew Callos sold 3,341 shares of Cytokinetics stock. The stock was sold at an average price of $43.27, for a total value of $144,565.07.

Cytokinetics Stock Up 1.2 %

Shares of NASDAQ CYTK traded up $0.55 on Monday, reaching $44.91. 1,189,106 shares of the company’s stock traded hands, compared to its average volume of 1,476,261. The business’s 50 day simple moving average is $46.26 and its two-hundred day simple moving average is $50.23. Cytokinetics, Incorporated has a 12 month low of $40.53 and a 12 month high of $75.71. The company has a market cap of $5.32 billion, a price-to-earnings ratio of -8.35 and a beta of 0.95. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.29) by $0.03. The business had revenue of $16.93 million during the quarter, compared to the consensus estimate of $14.26 million. As a group, equities research analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Cytokinetics

Several large investors have recently added to or reduced their stakes in CYTK. Vanguard Group Inc. lifted its holdings in shares of Cytokinetics by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock valued at $560,520,000 after acquiring an additional 154,216 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Cytokinetics by 11.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company’s stock worth $505,780,000 after purchasing an additional 1,062,136 shares during the period. Geode Capital Management LLC increased its position in shares of Cytokinetics by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock valued at $150,433,000 after purchasing an additional 109,938 shares during the last quarter. Deep Track Capital LP raised its holdings in Cytokinetics by 296.9% during the 4th quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company’s stock valued at $117,600,000 after buying an additional 1,870,094 shares during the period. Finally, Vestal Point Capital LP lifted its position in Cytokinetics by 56.7% in the fourth quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company’s stock worth $110,544,000 after buying an additional 850,000 shares during the last quarter.

Wall Street Analyst Weigh In

CYTK has been the topic of a number of research reports. HC Wainwright reissued a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a report on Friday, February 28th. Royal Bank of Canada increased their price objective on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a research report on Friday, February 7th. Morgan Stanley set a $67.00 price target on Cytokinetics in a research report on Friday, March 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.00.

Cytokinetics Company Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.