Cytokinetics (NASDAQ:CYTK) EVP Sells $1,030,705.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 15,857 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $65.00, for a total transaction of $1,030,705.00. Following the sale, the executive vice president directly owned 58,555 shares in the company, valued at approximately $3,806,075. This represents a 21.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $61.87, for a total transaction of $1,608,620.00.
• On Thursday, February 5th, Andrew Callos sold 15,000 shares of Cytokinetics stock. The shares were sold at an average price of $61.93, for a total transaction of $928,950.00.

Cytokinetics Price Performance

Shares of NASDAQ CYTK traded up $2.70 on Monday, hitting $66.05. The company’s stock had a trading volume of 2,021,272 shares, compared to its average volume of 1,867,196. Cytokinetics, Incorporated has a 12-month low of $29.31 and a 12-month high of $70.98. The company has a market capitalization of $8.21 billion, a price-to-earnings ratio of -10.11 and a beta of 0.38. The stock has a 50 day moving average of $63.81 and a 200-day moving average of $63.53.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.48) by ($0.02). The business had revenue of $17.76 million for the quarter, compared to the consensus estimate of $8.02 million. During the same quarter in the previous year, the business earned ($1.26) earnings per share. Cytokinetics’s quarterly revenue was up 4.9% on a year-over-year basis. Sell-side analysts expect that Cytokinetics, Incorporated will post -6.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Cytokinetics

Several institutional investors and hedge funds have recently bought and sold shares of CYTK. EverSource Wealth Advisors LLC increased its position in Cytokinetics by 723.7% during the second quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 673 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in Cytokinetics during the fourth quarter worth approximately $27,000. Kestra Advisory Services LLC acquired a new position in Cytokinetics during the fourth quarter worth approximately $29,000. Quarry LP acquired a new position in Cytokinetics during the third quarter worth approximately $30,000. Finally, TD Waterhouse Canada Inc. acquired a new position in Cytokinetics during the fourth quarter worth approximately $32,000.

Analyst Ratings Changes

CYTK has been the topic of several recent research reports. Leerink Partners reaffirmed an “outperform” rating on shares of Cytokinetics in a report on Tuesday, March 10th. Jefferies Financial Group reissued a “buy” rating and issued a $90.00 price objective on shares of Cytokinetics in a research report on Friday, January 9th. Morgan Stanley set a $90.00 price objective on shares of Cytokinetics in a research report on Thursday, January 8th. Needham & Company LLC boosted their price objective on shares of Cytokinetics from $84.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Finally, Truist Financial boosted their price objective on shares of Cytokinetics from $84.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Cytokinetics currently has a consensus rating of “Moderate Buy” and an average target price of $90.55.

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.