Key Points
- Insider sale: Director Wendell Wierenga sold 20,000 Cytokinetics shares at an average price of $66.14 on Dec. 22 for $1.3228M, trimming his stake by about 38% (SEC Form 4 filed).
- FDA approval drives outlook: The FDA cleared Myqorzo (aficamten) for obstructive hypertrophic cardiomyopathy, turning Cytokinetics into a commercial-stage cardiology biotech and prompting multiple broker upgrades and heavy call-option buying.
- Analyst/market context: the stock has an average analyst price target of $83.61 (15 Buys, 3 Holds, 1 Sell), a 12-month high of $70.98 and $7.74B market cap, though shares were down about 3.5% on the day.
Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) Director Wendell Wierenga sold 20,000 shares of the company's stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $66.14, for a total transaction of $1,322,800.00. Following the sale, the director directly owned 32,444 shares of the company's stock, valued at $2,145,846.16. The trade was a 38.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Wendell Wierenga also recently made the following trade(s):
- On Monday, October 27th, Wendell Wierenga sold 4,375 shares of Cytokinetics stock. The stock was sold at an average price of $58.68, for a total transaction of $256,725.00.
Cytokinetics Trading Down 3.5%
Shares of NASDAQ CYTK opened at $63.29 on Wednesday. The stock has a market cap of $7.74 billion, a PE ratio of -10.06 and a beta of 0.58. Cytokinetics, Incorporated has a 12-month low of $29.31 and a 12-month high of $70.98. The company has a 50-day moving average of $62.87 and a 200 day moving average of $49.10.
Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, topping the consensus estimate of ($1.59) by $0.05. The company had revenue of $1.94 million for the quarter, compared to analyst estimates of $6.05 million. The company's revenue for the quarter was up 318.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.36) earnings per share. On average, sell-side analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.
Institutional Trading of Cytokinetics
Several hedge funds have recently made changes to their positions in CYTK. Sanders Morris Harris LLC purchased a new stake in shares of Cytokinetics during the third quarter worth $1,182,000. Norges Bank acquired a new position in Cytokinetics during the 2nd quarter worth $39,122,000. Aberdeen Group plc increased its holdings in Cytokinetics by 53.2% during the 2nd quarter. Aberdeen Group plc now owns 922,929 shares of the biopharmaceutical company's stock worth $30,494,000 after purchasing an additional 320,508 shares during the period. Zweig DiMenna Associates LLC acquired a new stake in Cytokinetics in the 2nd quarter valued at about $1,176,000. Finally, Frazier Life Sciences Management L.P. acquired a new position in shares of Cytokinetics during the 2nd quarter worth about $18,328,000.
Analyst Ratings Changes
Several research analysts have recently commented on CYTK shares. Citizens Jmp lifted their price target on Cytokinetics from $78.00 to $88.00 and gave the stock a "market outperform" rating in a report on Monday. Leerink Partners set a $83.00 price target on shares of Cytokinetics in a research report on Monday. Evercore ISI lifted their target price on Cytokinetics from $60.00 to $80.00 and gave the company an "outperform" rating in a research report on Wednesday, September 3rd. B. Riley reissued a "buy" rating and set a $90.00 price objective (up from $80.00) on shares of Cytokinetics in a research report on Monday, November 10th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $61.00 target price on shares of Cytokinetics in a research report on Monday, December 1st. Fifteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cytokinetics has an average rating of "Moderate Buy" and an average price target of $83.61.
Read Our Latest Report on Cytokinetics
Key Stores Impacting Cytokinetics
Here are the key news stories impacting Cytokinetics this week:
- Positive Sentiment: FDA approved Myqorzo (aficamten) for obstructive hypertrophic cardiomyopathy, turning Cytokinetics into a commercial-stage cardiology biotech and opening a new revenue runway — a primary driver behind the rally. Article Title
- Positive Sentiment: Multiple brokers lifted price targets and reiterated buy/outperform views (Barclays, Morgan Stanley, BofA, Needham, Citizens/JMP), signaling stronger analyst conviction on commercial prospects and supporting upside. Article Title
- Positive Sentiment: Unusually heavy call-option buying (about 5,619 calls, ~103% above typical daily volume) suggests traders are positioning for additional upside or near-term bullish moves. (Options volume report)
- Positive Sentiment: Analyst commentary highlights practical label advantages for MYQORZO vs. the incumbent (flexible dosing), and management targets substantial market share gains — commentary that supports a multi-quarter adoption story. Article Title
- Neutral Sentiment: Citizens maintained its Market Outperform rating on CYTK, which is supportive but not a new endorsement. Article Title
- Negative Sentiment: Insider selling: director Wendell Wierenga sold 20,000 shares at an average $66.14 (Dec. 22), trimming his stake ~38% — a potential short-term headwind or cautionary signal for some investors. SEC Filing
Cytokinetics Company Profile
(
Get Free Report)
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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