Insider Selling: Cytokinetics (NASDAQ:CYTK) EVP Sells 1,709 Shares of Stock

by · The Markets Daily

Cytokinetics, Incorporated (NASDAQ:CYTK – Get Free Report) EVP Andrew Callos sold 1,709 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $61.03, for a total transaction of $104,300.27. Following the completion of the sale, the executive vice president owned 46,149 shares of the company’s stock, valued at approximately $2,816,473.47. This represents a 3.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

  • On Monday, March 9th, Andrew Callos sold 2,582 shares of Cytokinetics stock. The stock was 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.
  • 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.

Cytokinetics Trading Up 1.3%

Shares of CYTK traded up $0.77 during mid-day trading on Monday, reaching $60.83. The company’s stock had a trading volume of 2,098,693 shares, compared to its average volume of 1,866,374. Cytokinetics, Incorporated has a 1-year low of $29.31 and a 1-year high of $70.98. The business has a 50-day simple moving average of $63.92 and a two-hundred day simple moving average of $60.57. The stock has a market cap of $7.49 billion, a P/E ratio of -9.32 and a beta of 0.56.

Cytokinetics (NASDAQ:CYTK – Get Free Report) last posted its earnings results on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.02). The company had revenue of $17.76 million during the quarter, compared to analyst estimates of $8.02 million. During the same quarter in the previous year, the firm earned ($1.26) earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. Research analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Institutional Investors Weigh In On Cytokinetics

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Cytokinetics by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 12,048,131 shares of the biopharmaceutical company’s stock valued at $765,538,000 after acquiring an additional 191,336 shares during the period. State Street Corp increased its position in Cytokinetics by 3.7% during the fourth quarter. State Street Corp now owns 5,825,295 shares of the biopharmaceutical company’s stock worth $370,139,000 after acquiring an additional 207,961 shares during the period. Deep Track Capital LP increased its position in 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 acquiring an additional 650,000 shares during the period. Geode Capital Management LLC raised its stake in Cytokinetics by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,056,017 shares of the biopharmaceutical company’s stock worth $194,214,000 after purchasing an additional 15,815 shares in the last quarter. Finally, Vestal Point Capital LP boosted its holdings in Cytokinetics by 14.8% in the 2nd quarter. Vestal Point Capital LP now owns 2,975,000 shares of the biopharmaceutical company’s stock valued at $98,294,000 after purchasing an additional 384,469 shares during the period.

Analysts Set New Price Targets

CYTK has been the topic of several research reports. Needham & Company LLC upped their price objective on shares of Cytokinetics from $84.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Bank of America restated a “neutral” rating on shares of Cytokinetics in a research note on Wednesday, February 25th. The Goldman Sachs Group set a $95.00 target price on shares of Cytokinetics and gave the stock a “buy” rating in a report on Thursday, December 18th. Truist Financial increased their price target on shares of Cytokinetics from $84.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, February 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cytokinetics in a research report on Wednesday, January 21st. Seventeen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $89.00.

Get Our Latest Analysis on Cytokinetics

About Cytokinetics

(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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