Cytokinetics (NASDAQ:CYTK) EVP Andrew Callos Sells 15,000 Shares

Key Points

• Andrew Callos, Cytokinetics EVP, sold 15,000 shares on April 30 at an average price of $63.26 for $948,900, reducing his holding to 58,555 shares (a 20.39% decrease); the transaction was executed under a pre‑arranged Rule 10b5‑1 trading plan.
• Callos has made multiple large sales this year (including 26,000 shares on March 5 and 15,000 on Feb 5), showing a pattern of insider selling, yet CYTK shares rose about 7.4% to $63.97 on the day and analysts maintain a consensus "Moderate Buy" with a $90.55 price target after several upward revisions.

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Andrew Callos sold 15,000 shares of the company's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $63.26, for a total transaction of $948,900.00. Following the transaction, the executive vice president owned 58,555 shares in the company, valued at $3,704,189.30. The trade was a 20.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 15th, Andrew Callos sold 7,449 shares of Cytokinetics stock. The shares were sold at an average price of $66.02, for a total transaction of $491,782.98.
• 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 Up 7.4%

Shares of CYTK traded up $4.39 during trading hours on Thursday, reaching $63.97. 2,723,406 shares of the company traded hands, compared to its average volume of 1,858,483. The firm has a market cap of $7.95 billion, a price-to-earnings ratio of -9.80 and a beta of 0.47. Cytokinetics, Incorporated has a 12-month low of $29.31 and a 12-month high of $70.98. The stock's fifty day moving average price is $63.89 and its 200 day moving average price is $63.48.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its earnings results on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.48) by ($0.02). The firm had revenue of $17.76 million for the quarter, compared to analysts' expectations of $8.02 million. The company's revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the company earned ($1.26) earnings per share. On average, research analysts forecast that Cytokinetics, Incorporated will post -6.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CYTK shares. Truist Financial boosted their target price on shares of Cytokinetics from $84.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, February 3rd. B. Riley Financial upped their target price on Cytokinetics from $90.00 to $108.00 and gave the stock a "buy" rating in a report on Wednesday, January 21st. Needham & Company LLC raised their price target on Cytokinetics from $84.00 to $85.00 and gave the company a "buy" rating in a research note on Wednesday, February 25th. UBS Group lifted their price objective on Cytokinetics from $61.00 to $69.00 and gave the company a "neutral" rating in a report on Friday, March 6th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Cytokinetics in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $90.55.

Hedge Funds Weigh In On Cytokinetics

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Cytokinetics by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 12,048,131 shares of the biopharmaceutical company's stock worth $765,538,000 after purchasing an additional 191,336 shares in the last quarter. State Street Corp raised its holdings in Cytokinetics by 3.7% in the fourth quarter. State Street Corp now owns 5,825,295 shares of the biopharmaceutical company's stock worth $370,139,000 after purchasing an additional 207,961 shares in the last quarter. Deep Track Capital LP raised its holdings in Cytokinetics by 17.8% in the third quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company's stock worth $236,328,000 after purchasing an additional 650,000 shares in the last quarter. Geode Capital Management LLC raised its holdings in Cytokinetics by 0.5% in the fourth 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 raised its holdings in Cytokinetics by 14.8% in the second quarter. Vestal Point Capital LP now owns 2,975,000 shares of the biopharmaceutical company's stock worth $98,294,000 after purchasing an additional 384,469 shares in the last quarter.

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.

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