Key Points
- EVP Andrew Callos sold 52,486 shares of Cytokinetics on Dec. 5 at an average price of $65.95, generating about $3.46 million and reducing his direct stake by roughly 50.9% to 50,660 shares, per an SEC filing.
- Cytokinetics shares traded around $65.67 (52‑week range $29.31–$69.33) with a market cap of about $8.03 billion; the company slightly beat EPS expectations for the quarter but missed revenue estimates, and analysts maintain a Moderate Buy consensus with an average target near $79.29.
Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Andrew Callos sold 52,486 shares of the business's stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $65.95, for a total transaction of $3,461,451.70. Following the sale, the executive vice president directly owned 50,660 shares of the company's stock, valued at approximately $3,341,027. This represents a 50.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Cytokinetics Stock Down 1.3%
Shares of NASDAQ CYTK opened at $65.67 on Friday. The firm's 50-day moving average price is $61.93 and its two-hundred day moving average price is $46.27. Cytokinetics, Incorporated has a 52-week low of $29.31 and a 52-week high of $69.33. The stock has a market capitalization of $8.03 billion, a P/E ratio of -10.44 and a beta of 0.58.
Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) EPS for the quarter, beating the consensus estimate of ($1.59) by $0.05. The company had revenue of $1.94 million for the quarter, compared to the consensus estimate of $6.05 million. The firm's revenue for the quarter was up 318.1% compared to the same quarter last year. During the same period last year, the company posted ($1.36) earnings per share. As a group, equities research analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.
Hedge Funds Weigh In On Cytokinetics
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of Cytokinetics by 723.7% in the second quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company's stock valued at $25,000 after acquiring an additional 673 shares in the last quarter. Quarry LP acquired a new stake in Cytokinetics in the third quarter worth approximately $30,000. Advisory Services Network LLC acquired a new stake in Cytokinetics in the third quarter worth approximately $32,000. Johnson Financial Group Inc. bought a new position in Cytokinetics during the 3rd quarter valued at $40,000. Finally, Hantz Financial Services Inc. increased its position in shares of Cytokinetics by 2,872.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company's stock valued at $43,000 after purchasing an additional 1,264 shares during the period.
Wall Street Analyst Weigh In
A number of research analysts recently commented on CYTK shares. Citigroup upped their price objective on Cytokinetics from $77.00 to $84.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. B. Riley reissued a "buy" rating and set a $90.00 price target (up previously from $80.00) on shares of Cytokinetics in a report on Monday, November 10th. Royal Bank Of Canada increased their price objective on shares of Cytokinetics from $82.00 to $87.00 and gave the stock an "outperform" rating in a report on Tuesday, November 11th. UBS Group reiterated a "neutral" rating and issued a $61.00 price objective on shares of Cytokinetics in a research report on Monday. Finally, Barclays upped their target price on shares of Cytokinetics from $71.00 to $82.00 and gave the stock an "overweight" rating in a research report on Monday, October 6th. Thirteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $79.29.
View Our Latest Stock Report on Cytokinetics
About Cytokinetics
(
Get Free Report)
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.
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