Insider Selling: Cytokinetics (NASDAQ:CYTK) EVP Sells $1,608,620.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 26,000 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $61.87, for a total transaction of $1,608,620.00. Following the transaction, the executive vice president owned 50,440 shares in the company, valued at approximately $3,120,722.80. The trade was a 34.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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.
• On Monday, February 2nd, Andrew Callos sold 886 shares of Cytokinetics stock. The shares were sold at an average price of $62.10, for a total value of $55,020.60.
• On Monday, January 5th, Andrew Callos sold 15,000 shares of Cytokinetics stock. The stock was sold at an average price of $60.28, for a total value of $904,200.00.
• On Friday, January 2nd, Andrew Callos sold 1,798 shares of Cytokinetics stock. The stock was sold at an average price of $62.62, for a total value of $112,590.76.
• On Monday, December 29th, Andrew Callos sold 1,809 shares of Cytokinetics stock. The shares were sold at an average price of $62.44, for a total value of $112,953.96.
• On Monday, December 8th, Andrew Callos sold 1,042 shares of Cytokinetics stock. The shares were sold at an average price of $65.96, for a total value of $68,730.32.
• On Friday, December 5th, Andrew Callos sold 52,486 shares of Cytokinetics stock. The stock was sold at an average price of $65.95, for a total value of $3,461,451.70.

Cytokinetics Stock Performance

Shares of NASDAQ CYTK opened at $60.41 on Friday. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $70.98. The stock has a market capitalization of $7.44 billion, a P/E ratio of -9.25 and a beta of 0.56. The stock’s fifty day moving average is $63.95 and its 200 day moving average is $59.57.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.48) by ($0.02). The company had revenue of $17.76 million for the quarter, compared to analyst estimates of $8.02 million. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the company earned ($1.26) earnings per share. Equities research analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CYTK shares. The Goldman Sachs Group set a $95.00 price target on shares of Cytokinetics and gave the stock a “buy” rating in a report on Thursday, December 18th. Bank of America reissued a “neutral” rating on shares of Cytokinetics in a research note on Wednesday, February 25th. HC Wainwright boosted their price objective on shares of Cytokinetics from $120.00 to $136.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. UBS Group upped their target price on Cytokinetics from $61.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Wall Street Zen downgraded Cytokinetics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Seventeen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.28.

Institutional Investors Weigh In On Cytokinetics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Woodline Partners LP increased its position in Cytokinetics by 676.1% during the 3rd quarter. Woodline Partners LP now owns 1,647,725 shares of the biopharmaceutical company’s stock worth $90,559,000 after purchasing an additional 1,435,422 shares in the last quarter. Norges Bank acquired a new stake in Cytokinetics in the second quarter valued at approximately $39,122,000. Deep Track Capital LP grew its stake in shares of Cytokinetics by 17.8% during the third quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company’s stock worth $236,328,000 after buying an additional 650,000 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Cytokinetics by 151,987.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 565,765 shares of the biopharmaceutical company’s stock worth $35,949,000 after buying an additional 565,393 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. acquired a new position in shares of Cytokinetics during the second quarter worth $18,328,000.

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.