Cytokinetics (NASDAQ:CYTK) EVP Sells $3,461,451.70 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 52,486 shares of the stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $65.95, for a total transaction of $3,461,451.70. Following the completion of the transaction, the executive vice president directly owned 50,660 shares in the company, valued at $3,341,027. The trade was a 50.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Cytokinetics Stock Performance

Shares of CYTK stock opened at $65.67 on Monday. The company has a market capitalization of $8.03 billion, a price-to-earnings ratio of -10.44 and a beta of 0.58. The company has a 50-day simple moving average of $61.93 and a 200 day simple moving average of $46.47. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $69.33.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, beating the consensus estimate of ($1.59) by $0.05. The company had revenue of $1.94 million during the quarter, compared to the consensus estimate of $6.05 million. The firm’s revenue was up 318.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.36) earnings per share. Sell-side analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Institutional Investors Weigh In On Cytokinetics

A number of large investors have recently bought and sold shares of CYTK. EverSource Wealth Advisors LLC increased its holdings in Cytokinetics by 723.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 673 shares during the period. Quarry LP acquired a new stake in shares of Cytokinetics during the 3rd quarter worth approximately $30,000. Advisory Services Network LLC bought a new position in Cytokinetics in the third quarter valued at approximately $32,000. Johnson Financial Group Inc. acquired a new position in Cytokinetics during the third quarter valued at approximately $40,000. Finally, Hantz Financial Services Inc. raised its position in Cytokinetics by 2,872.7% during the second quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 1,264 shares in the last quarter.

Wall Street Analyst Weigh In

CYTK has been the subject of several research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a report on Tuesday, October 21st. Evercore ISI increased their price objective on Cytokinetics from $60.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 3rd. Wall Street Zen cut shares of Cytokinetics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. B. Riley restated a “buy” rating and issued a $90.00 price target (up from $80.00) on shares of Cytokinetics in a research note on Monday, November 10th. Finally, Royal Bank Of Canada lifted their price objective on shares of Cytokinetics from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 11th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.29.

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.