Andrew Callos Sells 7,449 Shares of Cytokinetics (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 7,449 shares of Cytokinetics stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $66.02, for a total transaction of $491,782.98. Following the completion of the sale, the executive vice president directly owned 58,555 shares in the company, valued at approximately $3,865,801.10. The trade was a 11.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, March 18th, Andrew Callos sold 1,930 shares of Cytokinetics stock. The shares were 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.
• 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 transaction of $55,020.60.

Cytokinetics Trading Down 1.5%

Shares of NASDAQ:CYTK traded down $0.98 during midday trading on Wednesday, hitting $65.37. The stock had a trading volume of 1,259,875 shares, compared to its average volume of 1,889,537. The company has a market capitalization of $8.05 billion, a PE ratio of -10.01 and a beta of 0.47. The stock has a 50 day moving average price of $63.97 and a two-hundred day moving average price of $63.03. Cytokinetics, Incorporated has a 1 year low of $29.31 and a 1 year high of $70.98.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results 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 firm had revenue of $17.76 million for the quarter, compared to analyst estimates of $8.02 million. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted ($1.26) earnings per share. As a group, equities analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Kemnay Advisory Services Inc. purchased a new position in shares of Cytokinetics during the 4th quarter worth approximately $27,000. Kestra Advisory Services LLC purchased a new position in shares of Cytokinetics during the 4th quarter worth approximately $29,000. TD Waterhouse Canada Inc. purchased a new position in shares of Cytokinetics during the 4th quarter worth approximately $32,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Cytokinetics by 46.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 171 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Cytokinetics during the 3rd quarter worth approximately $30,000.

Analyst Upgrades and Downgrades

CYTK has been the topic of a number of research analyst reports. Citigroup reissued a “market outperform” rating on shares of Cytokinetics in a report on Monday, December 22nd. Robert W. Baird set a $84.00 price objective on shares of Cytokinetics in a report on Tuesday, March 10th. Mizuho boosted their price objective on shares of Cytokinetics from $84.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, March 18th. Bank of America reissued a “neutral” rating on shares of Cytokinetics in a report on Wednesday, February 25th. Finally, Royal Bank Of Canada boosted their price objective on shares of Cytokinetics from $95.00 to $101.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently 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.