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

Key Points

• Cytokinetics EVP Andrew Callos sold 15,000 shares on June 1 at an average price of $74.08, totaling about $1.11 million. After the sale, he still held 58,555 shares, and the transaction was made under a pre-arranged Rule 10b5-1 plan.
• The stock has been active around recent highs, closing at $73.68 after a daily decline, with a 52-week range of $30.55 to $80.20. Cytokinetics has a market value of about $9.17 billion and has traded above its 50-day and 200-day moving averages.
• Analysts remain broadly positive on CYTK following the company’s latest earnings report, which matched EPS expectations and delivered revenue far above estimates. The stock carries a consensus rating of “Moderate Buy” with an average price target of $99.30.

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Andrew Callos sold 15,000 shares of Cytokinetics stock in a transaction on Monday, June 1st. The shares were sold at an average price of $74.08, for a total transaction of $1,111,200.00. Following the completion of the sale, the executive vice president owned 58,555 shares in the company, valued at approximately $4,337,754.40. This trade represents a 20.39% decrease in their position. The transaction was disclosed in a filing 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 Friday, May 1st, Andrew Callos sold 15,857 shares of Cytokinetics stock. The shares were sold at an average price of $65.00, for a total transaction of $1,030,705.00.
• On Thursday, April 30th, Andrew Callos sold 15,000 shares of Cytokinetics stock. The shares were sold at an average price of $63.26, for a total transaction of $948,900.00.
• 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.

Cytokinetics Price Performance

NASDAQ:CYTK traded down $3.08 during trading hours on Monday, hitting $73.68. The company had a trading volume of 1,659,872 shares, compared to its average volume of 2,198,320. The company has a market capitalization of $9.17 billion, a PE ratio of -10.77 and a beta of 0.42. The stock has a 50-day moving average price of $68.95 and a 200 day moving average price of $65.75. Cytokinetics, Incorporated has a 52 week low of $30.55 and a 52 week high of $80.20.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, meeting the consensus estimate of ($1.67). The company had revenue of $19.36 million during the quarter, compared to the consensus estimate of $8.52 million. The business's revenue was up 1112.5% on a year-over-year basis. During the same quarter last year, the firm earned ($1.36) EPS. Analysts anticipate that Cytokinetics, Incorporated will post -6.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Cytokinetics

A number of hedge funds have recently bought and sold shares of CYTK. Woodline Partners LP raised its position in Cytokinetics by 676.1% in the 3rd quarter. Woodline Partners LP now owns 1,647,725 shares of the biopharmaceutical company's stock worth $90,559,000 after buying an additional 1,435,422 shares during the last quarter. Norges Bank purchased a new position in Cytokinetics in the 4th quarter worth about $51,281,000. Deep Track Capital LP raised its position in Cytokinetics by 17.8% in the 3rd quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company's stock worth $236,328,000 after buying an additional 650,000 shares during the last quarter. Siren L.L.C. purchased a new position in Cytokinetics in the 1st quarter worth about $40,466,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Cytokinetics by 151,987.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 565,765 shares of the biopharmaceutical company's stock worth $35,949,000 after buying an additional 565,393 shares during the last quarter.

Analyst Ratings Changes

CYTK has been the topic of a number of recent research reports. Wall Street Zen raised shares of Cytokinetics from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Stifel Nicolaus upped their target price on shares of Cytokinetics from $98.00 to $108.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Royal Bank Of Canada upped their target price on shares of Cytokinetics from $101.00 to $119.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Citigroup initiated coverage on shares of Cytokinetics in a research report on Monday, May 18th. They issued a "buy" rating and a $99.00 target price on the stock. Finally, Bank of America reaffirmed a "neutral" rating on shares of Cytokinetics in a research report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Cytokinetics has an average rating of "Moderate Buy" and a consensus price target of $99.30.

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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