Cytokinetics (NASDAQ:CYTK) EVP Andrew Callos Sells 10,000 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 10,000 shares of the company’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $70.24, for a total transaction of $702,400.00. Following the completion of the sale, the executive vice president owned 58,555 shares of the company’s stock, valued at approximately $4,112,903.20. This trade represents a 14.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, July 30th, Andrew Callos sold 14,000 shares of Cytokinetics stock. The stock was sold at an average price of $79.88, for a total transaction of $1,118,320.00.
• 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.

Cytokinetics Stock Down 1.6%

CYTK stock traded down $1.18 during trading on Monday, hitting $70.91. The company had a trading volume of 3,016,602 shares, compared to its average volume of 2,147,846. The firm has a 50-day moving average price of $80.12 and a 200-day moving average price of $72.29. The firm has a market cap of $8.82 billion, a PE ratio of -9.82 and a beta of 0.39. Cytokinetics, Incorporated has a 1-year low of $35.22 and a 1-year high of $88.31.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.50) earnings per share for the quarter, beating the consensus estimate of ($1.63) by $0.13. The company had revenue of $28.62 million during the quarter, compared to analysts’ expectations of $17.59 million. The company’s revenue for the quarter was down 57.1% compared to the same quarter last year. During the same quarter last year, the business posted ($1.12) earnings per share. Sell-side analysts anticipate that Cytokinetics, Incorporated will post -6 earnings per share for the current year.

Institutional Investors Weigh In On Cytokinetics

Institutional investors have recently modified their holdings of the company. Bank of Montreal Can grew its holdings in shares of Cytokinetics by 1.2% during the 4th quarter. Bank of Montreal Can now owns 13,292 shares of the biopharmaceutical company’s stock worth $845,000 after purchasing an additional 160 shares during the period. Kennedy Capital Management LLC increased its position in shares of Cytokinetics by 1.2% during the fourth quarter. Kennedy Capital Management LLC now owns 13,183 shares of the biopharmaceutical company’s stock worth $838,000 after acquiring an additional 162 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Cytokinetics by 46.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 171 shares in the last quarter. Vident Advisory LLC grew its holdings in Cytokinetics by 1.4% during the 4th quarter. Vident Advisory LLC now owns 16,455 shares of the biopharmaceutical company’s stock worth $1,046,000 after acquiring an additional 234 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in Cytokinetics by 6.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,723 shares of the biopharmaceutical company’s stock valued at $237,000 after buying an additional 239 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CYTK. Stifel Nicolaus raised their target price on shares of Cytokinetics from $98.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Needham & Company LLC increased their price target on shares of Cytokinetics from $102.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, August 7th. HC Wainwright restated a “buy” rating and issued a $140.00 price objective on shares of Cytokinetics in a research report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Cytokinetics in a report on Friday, July 17th. Finally, Wall Street Zen lowered Cytokinetics from a “hold” rating to a “sell” rating in a report on Saturday. Nineteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Cytokinetics currently has an average rating of “Moderate Buy” and a consensus price target of $102.20.

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.