Key Points
- Andrew Callos, Cytokinetics' EVP, sold 1,798 shares on Jan. 2 at an average price of $62.62 for $112,590.76, reducing his ownership by 3.44% to 50,440 shares; he also executed several prior December sales, including 52,486 shares on Dec. 5.
- Analyst coverage is mostly positive—15 Buys vs. 3 Holds and 1 Sell—with a consensus target price of $83.61, even as the stock recently traded down about 2.8% and the company carries a market cap of roughly $7.55 billion.
Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Andrew Callos sold 1,798 shares of the company's stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $62.62, for a total value of $112,590.76. Following the completion of the sale, the executive vice president owned 50,440 shares in the company, valued at $3,158,552.80. This trade represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Andrew Callos also recently made the following trade(s):
- On Monday, December 29th, Andrew Callos sold 1,809 shares of Cytokinetics stock. The shares were sold at an average price of $62.44, for a total value of $112,953.96.
- On Monday, December 8th, Andrew Callos sold 1,042 shares of Cytokinetics stock. The shares were sold at an average price of $65.96, for a total transaction of $68,730.32.
- On Friday, December 5th, Andrew Callos sold 52,486 shares of Cytokinetics stock. The stock was sold at an average price of $65.95, for a total transaction of $3,461,451.70.
Cytokinetics Stock Down 2.8%
Shares of CYTK stock opened at $61.73 on Friday. The company has a market capitalization of $7.55 billion, a P/E ratio of -9.81 and a beta of 0.55. Cytokinetics, Incorporated has a 12-month low of $29.31 and a 12-month high of $70.98. The firm has a 50-day moving average price of $63.58 and a 200 day moving average price of $50.51.
Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.94 million for the quarter, compared to analyst estimates of $6.05 million. The business's quarterly revenue was up 318.1% on a year-over-year basis. During the same period in the previous year, the business posted ($1.36) EPS. As a group, research analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in CYTK. UMB Bank n.a. lifted its stake in Cytokinetics by 10.6% in the third quarter. UMB Bank n.a. now owns 1,762 shares of the biopharmaceutical company's stock valued at $97,000 after buying an additional 169 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of Cytokinetics by 8.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,484 shares of the biopharmaceutical company's stock valued at $191,000 after acquiring an additional 261 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Cytokinetics by 32.3% in the 3rd quarter. Fifth Third Bancorp now owns 1,072 shares of the biopharmaceutical company's stock valued at $59,000 after acquiring an additional 262 shares during the period. Teacher Retirement System of Texas boosted its stake in Cytokinetics by 1.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 30,514 shares of the biopharmaceutical company's stock worth $1,008,000 after acquiring an additional 341 shares during the last quarter. Finally, KLP Kapitalforvaltning AS grew its holdings in Cytokinetics by 1.7% during the second quarter. KLP Kapitalforvaltning AS now owns 24,000 shares of the biopharmaceutical company's stock valued at $793,000 after purchasing an additional 400 shares during the period.
Wall Street Analyst Weigh In
CYTK has been the topic of a number of recent analyst reports. Truist Financial set a $84.00 price objective on Cytokinetics in a research note on Monday, December 22nd. Citizens Jmp lifted their price target on Cytokinetics from $78.00 to $88.00 and gave the company a "market outperform" rating in a report on Monday, December 22nd. B. Riley reissued a "buy" rating and set a $90.00 price objective (up previously from $80.00) on shares of Cytokinetics in a report on Monday, November 10th. Weiss Ratings reissued a "sell (d-)" rating on shares of Cytokinetics in a report on Wednesday, October 8th. Finally, Needham & Company LLC upped their price objective on Cytokinetics from $72.00 to $84.00 and gave the stock a "buy" rating in a report on Monday, December 22nd. Fifteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Cytokinetics presently has an average rating of "Moderate Buy" and a consensus target price of $83.61.
Read Our Latest Report on CYTK
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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