Cytokinetics (NASDAQ:CYTK) EVP Sells $112,953.96 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 1,809 shares of the company’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $62.44, for a total transaction of $112,953.96. Following the transaction, the executive vice president owned 51,353 shares in the company, valued at approximately $3,206,481.32. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, December 8th, Andrew Callos sold 1,042 shares of Cytokinetics stock. The stock was sold at an average price of $65.96, for a total transaction of $68,730.32.
• On Friday, December 5th, Andrew Callos sold 52,486 shares of Cytokinetics stock. The shares were sold at an average price of $65.95, for a total transaction of $3,461,451.70.

Cytokinetics Stock Performance

Shares of CYTK stock opened at $63.54 on Friday. The firm’s 50 day moving average price is $63.50 and its two-hundred day moving average price is $50.31. Cytokinetics, Incorporated has a 52-week low of $29.31 and a 52-week high of $70.98. The stock has a market cap of $7.77 billion, a PE ratio of -10.10 and a beta of 0.55.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) EPS for the quarter, beating the consensus estimate of ($1.59) by $0.05. The business had revenue of $1.94 million for the quarter, compared to the consensus estimate of $6.05 million. The business’s revenue was up 318.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.36) EPS. As a group, sell-side analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Woodline Partners LP increased its position in shares of Cytokinetics by 676.1% during the third quarter. Woodline Partners LP now owns 1,647,725 shares of the biopharmaceutical company’s stock worth $90,559,000 after acquiring an additional 1,435,422 shares in the last quarter. Norges Bank bought a new stake in Cytokinetics in the 2nd quarter valued at $39,122,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. boosted its stake in Cytokinetics by 571.2% in the 2nd quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 1,082,563 shares of the biopharmaceutical company’s stock worth $35,768,000 after purchasing an additional 921,278 shares during the period. Deep Track Capital LP increased its holdings in Cytokinetics by 17.8% during the 3rd quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company’s stock worth $236,328,000 after purchasing an additional 650,000 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. bought a new position in Cytokinetics during the 2nd quarter worth about $18,328,000.

Analyst Ratings Changes

CYTK has been the subject of several analyst reports. UBS Group restated a “neutral” rating and set a $61.00 target price on shares of Cytokinetics in a research report on Monday, December 1st. Morgan Stanley lifted their price objective on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, December 22nd. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a report on Tuesday, October 21st. B. Riley reiterated a “buy” rating and issued a $90.00 target price (up from $80.00) on shares of Cytokinetics in a report on Monday, November 10th. Finally, The Goldman Sachs Group set a $95.00 price target on shares of Cytokinetics and gave the stock a “buy” rating in a research report on Thursday, December 18th. Fifteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $83.61.

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.