Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells $103,261.08 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 2,886 shares of Cytokinetics stock in a transaction on Monday, April 7th. The shares were sold at an average price of $35.78, for a total transaction of $103,261.08. Following the completion of the sale, the executive vice president now directly owns 64,689 shares of the company’s stock, valued at approximately $2,314,572.42. This trade represents a 4.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, March 17th, Andrew Callos sold 2,775 shares of Cytokinetics stock. The shares were sold at an average price of $44.38, for a total value of $123,154.50.
• 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 value of $4,500.00.
• On Thursday, March 6th, Andrew Callos sold 3,341 shares of Cytokinetics stock. The shares were sold at an average price of $43.27, for a total value of $144,565.07.

Cytokinetics Stock Up 1.4 %

Shares of NASDAQ:CYTK opened at $37.85 on Friday. Cytokinetics, Incorporated has a 1 year low of $32.74 and a 1 year high of $75.50. The company has a market capitalization of $4.48 billion, a PE ratio of -7.04 and a beta of 0.94. The business has a fifty day moving average price of $43.38 and a two-hundred day moving average price of $48.28. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, beating the consensus estimate of ($1.29) by $0.03. The company had revenue of $16.93 million for the quarter, compared to the consensus estimate of $14.26 million. Analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Jones Financial Companies Lllp lifted its stake in Cytokinetics by 189.8% in the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 374 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Cytokinetics in the fourth quarter valued at $29,000. Parallel Advisors LLC lifted its position in shares of Cytokinetics by 500.5% during the 1st quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company’s stock valued at $44,000 after buying an additional 916 shares during the last quarter. AlphaQuest LLC grew its stake in shares of Cytokinetics by 113,500.0% during the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 1,135 shares during the period. Finally, J.Safra Asset Management Corp increased its holdings in Cytokinetics by 62.1% in the 4th quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company’s stock worth $83,000 after acquiring an additional 671 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a report on Friday, April 4th. Morgan Stanley set a $67.00 price objective on shares of Cytokinetics in a report on Friday, March 7th. Needham & Company LLC restated a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a report on Tuesday. Royal Bank of Canada lifted their price target on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Finally, Citigroup assumed coverage on Cytokinetics in a report on Friday, February 7th. They set a “buy” rating and a $86.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.00.

About Cytokinetics

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.