Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells $123,154.50 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 2,775 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $44.38, for a total value of $123,154.50. Following the sale, the executive vice president now owns 34,888 shares of the company’s stock, valued at approximately $1,548,329.44. This represents a 7.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, March 14th, Andrew Callos sold 100 shares of Cytokinetics stock. The stock was sold at an average price of $45.00, for a total transaction of $4,500.00.
• On Thursday, March 6th, Andrew Callos sold 3,341 shares of Cytokinetics stock. The stock was sold at an average price of $43.27, for a total value of $144,565.07.

Cytokinetics Stock Up 1.2 %

Cytokinetics stock traded up $0.55 during mid-day trading on Monday, hitting $44.91. The company’s stock had a trading volume of 1,189,106 shares, compared to its average volume of 1,476,261. The company has a market cap of $5.32 billion, a PE ratio of -8.35 and a beta of 0.95. Cytokinetics, Incorporated has a 52-week low of $40.53 and a 52-week high of $75.71. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The firm’s 50 day moving average is $46.26 and its 200 day moving average is $50.23.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.29) by $0.03. The company had revenue of $16.93 million during the quarter, compared to analyst estimates of $14.26 million. On average, analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Analysts Set New Price Targets

CYTK has been the subject of several recent research reports. Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a research report on Friday, February 7th. Stifel Nicolaus started coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 target price for the company. JMP Securities reissued a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a report on Friday, February 7th. Citigroup initiated coverage on shares of Cytokinetics in a report on Friday, February 7th. They issued a “buy” rating and a $86.00 price objective for the company. Finally, Royal Bank of Canada increased their target price on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cytokinetics presently has a consensus rating of “Moderate Buy” and an average price target of $82.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Harvey Capital Management Inc. acquired a new stake in Cytokinetics during the 4th quarter valued at $1,040,000. Westfield Capital Management Co. LP increased its stake in shares of Cytokinetics by 38.9% in the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock valued at $64,040,000 after buying an additional 339,373 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cytokinetics by 42.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock valued at $69,769,000 after buying an additional 395,709 shares during the last quarter. abrdn plc lifted its position in Cytokinetics by 29.4% during the 4th quarter. abrdn plc now owns 450,513 shares of the biopharmaceutical company’s stock worth $21,192,000 after buying an additional 102,457 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Cytokinetics by 24.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 344,448 shares of the biopharmaceutical company’s stock worth $18,187,000 after acquiring an additional 68,381 shares during the last quarter.

Cytokinetics Company Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.