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

Cytokinetics, Incorporated (NASDAQ:CYTKGet Free Report) EVP Andrew Callos sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $70.24, for a total value of $702,400.00. Following the completion of the transaction, the executive vice president owned 58,555 shares of the company’s stock, valued at $4,112,903.20. The trade was a 14.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 shares were 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 Performance

CYTK stock opened at $70.91 on Tuesday. The company’s fifty day moving average price is $79.95 and its 200-day moving average price is $72.33. Cytokinetics, Incorporated has a one year low of $35.22 and a one year high of $88.31. The company has a market capitalization of $8.82 billion, a PE ratio of -9.82 and a beta of 0.39.

Cytokinetics (NASDAQ:CYTKGet Free Report) last posted 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 for the quarter, compared to analysts’ expectations of $17.59 million. The business’s revenue was down 57.1% on a year-over-year basis. During the same period in the previous year, the business posted ($1.12) earnings per share. On average, research analysts predict that Cytokinetics, Incorporated will post -6 EPS for the current fiscal year.

Analyst Ratings Changes

CYTK has been the topic of several research reports. Royal Bank Of Canada reduced their target price on Cytokinetics from $117.00 to $112.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. Truist Financial increased their price target on Cytokinetics from $106.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Needham & Company LLC lifted their price objective on Cytokinetics from $102.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Wells Fargo & Company upped their price objective on Cytokinetics from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $140.00 target price on shares of Cytokinetics in a report on Monday. Nineteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cytokinetics currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.20.

View Our Latest Report on CYTK

Hedge Funds Weigh In On Cytokinetics

A number of large investors have recently bought and sold shares of the business. Bank of Montreal Can increased its stake in Cytokinetics by 1.2% in the fourth 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 boosted its stake 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 valued at $838,000 after purchasing an additional 162 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cytokinetics by 46.0% in the fourth 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 during the last quarter. Vident Advisory LLC grew its holdings in shares of Cytokinetics by 1.4% in the fourth quarter. Vident Advisory LLC now owns 16,455 shares of the biopharmaceutical company’s stock worth $1,046,000 after purchasing an additional 234 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Cytokinetics by 6.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,723 shares of the biopharmaceutical company’s stock worth $237,000 after purchasing an additional 239 shares during the last quarter.

Cytokinetics Company Profile

(Get Free Report)

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.

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