Key Points
- EVP Andrew Callos sold 15,857 shares on May 1 at an average price of $65 (≈$1.03M), reducing his stake by 21.31% to 58,555 shares; the sale was disclosed in an SEC filing and executed under a pre-arranged Rule 10b5-1 trading plan.
- The May 1 trade is part of a string of insider disposals this year—about 94,069 shares sold across multiple trades since February, generating roughly $5.9M in proceeds.
- Cytokinetics has an $8.21B market cap and recently reported a slight EPS miss but revenue above expectations, with a MarketBeat consensus of "Moderate Buy" and a consensus target price of $90.55.
Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Andrew Callos sold 15,857 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $65.00, for a total value of $1,030,705.00. Following the sale, the executive vice president owned 58,555 shares in the company, valued at approximately $3,806,075. This trade represents a 21.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Andrew Callos also recently made the following trade(s):
- On Thursday, April 30th, Andrew Callos sold 15,000 shares of Cytokinetics stock. The stock was sold at an average price of $63.26, for a total value 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 value 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 value of $119,795.10.
- On Tuesday, March 17th, Andrew Callos sold 8,542 shares of Cytokinetics stock. The stock was sold at an average price of $62.15, for a total value 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 stock was sold at an average price of $61.87, for a total transaction of $1,608,620.00.
- On Thursday, February 5th, Andrew Callos sold 15,000 shares of Cytokinetics stock. The stock was sold at an average price of $61.93, for a total transaction of $928,950.00.
Cytokinetics Price Performance
NASDAQ:CYTK opened at $66.05 on Tuesday. The firm has a market cap of $8.21 billion, a PE ratio of -10.11 and a beta of 0.38. The firm has a 50 day simple moving average of $63.81 and a 200-day simple moving average of $63.53. Cytokinetics, Incorporated has a 1-year low of $29.31 and a 1-year high of $70.98.
Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its earnings results on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.48) by ($0.02). The company had revenue of $17.76 million for the quarter, compared to analysts' expectations of $8.02 million. The business's revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.26) EPS. As a group, sell-side analysts expect that Cytokinetics, Incorporated will post -6.31 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the company. Calamos Advisors LLC acquired a new position in Cytokinetics in the first quarter valued at $1,425,000. Emerald Mutual Fund Advisers Trust acquired a new stake in Cytokinetics during the first quarter worth about $8,928,000. Emerald Advisers LLC purchased a new position in shares of Cytokinetics in the 1st quarter worth about $13,104,000. State of Michigan Retirement System lifted its stake in shares of Cytokinetics by 1.7% in the 1st quarter. State of Michigan Retirement System now owns 29,400 shares of the biopharmaceutical company's stock valued at $1,938,000 after purchasing an additional 500 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Cytokinetics by 11.9% in the 1st quarter. Principal Financial Group Inc. now owns 1,093,485 shares of the biopharmaceutical company's stock valued at $72,072,000 after purchasing an additional 116,593 shares in the last quarter.
Analysts Set New Price Targets
CYTK has been the subject of a number of recent analyst reports. B. Riley Financial lifted their price objective on Cytokinetics from $90.00 to $108.00 and gave the company a "buy" rating in a research report on Wednesday, January 21st. Citizens Jmp increased their target price on Cytokinetics from $88.00 to $96.00 and gave the stock a "market outperform" rating in a research report on Wednesday, February 25th. Needham & Company LLC raised their price target on Cytokinetics from $84.00 to $85.00 and gave the stock a "buy" rating in a research note on Wednesday, February 25th. Morgan Stanley set a $90.00 price objective on shares of Cytokinetics in a research note on Thursday, January 8th. Finally, Robert W. Baird set a $84.00 price objective on shares of Cytokinetics in a report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.55.
Read Our Latest Report on CYTK
About Cytokinetics
(
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.
Further Reading
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