Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos Sells 2,775 Shares of Stock

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

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 value 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 Performance

Shares of NASDAQ CYTK opened at $44.91 on Tuesday. The company has a market capitalization of $5.32 billion, a P/E ratio of -8.35 and a beta of 0.95. The business’s 50-day moving average price is $46.26 and its two-hundred day moving average price is $50.23. Cytokinetics, Incorporated has a one year low of $40.53 and a one year 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.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, beating the consensus estimate of ($1.29) by $0.03. The business had revenue of $16.93 million for the quarter, compared to the consensus estimate of $14.26 million. Analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research report on Friday, February 28th. Mizuho increased their target price on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Needham & Company LLC reiterated a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a report on Thursday, February 6th. Citigroup started coverage on Cytokinetics in a research note on Friday, February 7th. They set a “buy” rating and a $86.00 price target on the stock. Finally, Evercore ISI raised Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.00.

Hedge Funds Weigh In On Cytokinetics

A number of hedge funds have recently modified their holdings of the stock. Harvey Capital Management Inc. bought a new stake in Cytokinetics during the 4th quarter worth approximately $1,040,000. Westfield Capital Management Co. LP boosted its position in shares of Cytokinetics by 38.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock worth $64,040,000 after purchasing an additional 339,373 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Cytokinetics by 42.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock worth $69,769,000 after purchasing an additional 395,709 shares during the last quarter. abrdn plc raised its stake 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 during the period. Finally, Massachusetts Financial Services Co. MA raised its stake 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 buying an additional 68,381 shares during the period.

About Cytokinetics

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.