Key Points
- Cytokinetics EVP Andrew Callos sold 15,000 shares on July 1 at an average price of $85.80, generating about $1.29 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Callos held 58,555 shares valued at roughly $5.0 million, representing a 20.39% decrease in his ownership. The article also notes he has made several other share sales in recent months.
- Cytokinetics shares were trading up 1.4% and near their 52-week high, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $100.
Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Sung Lee sold 1,112 shares of the firm's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $87.79, for a total value of $97,622.48. Following the completion of the sale, the executive vice president directly owned 63,221 shares of the company's stock, valued at $5,550,171.59. The trade was a 1.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Sung Lee also recently made the following trade(s):
- On Monday, June 29th, Sung Lee sold 3,134 shares of Cytokinetics stock. The stock was sold at an average price of $85.00, for a total value of $266,390.00.
Cytokinetics Price Performance
Shares of NASDAQ:CYTK opened at $86.49 on Friday. The business's 50-day moving average is $74.56 and its 200 day moving average is $67.61. Cytokinetics, Incorporated has a 1 year low of $32.89 and a 1 year high of $88.31. The firm has a market capitalization of $10.76 billion, a P/E ratio of -12.64 and a beta of 0.42.
Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, hitting the consensus estimate of ($1.67). The business had revenue of $19.36 million during the quarter, compared to analyst estimates of $8.52 million. During the same period in the prior year, the business posted ($1.36) EPS. Cytokinetics's revenue was up 1112.5% compared to the same quarter last year. On average, analysts expect that Cytokinetics, Incorporated will post -6.26 EPS for the current year.
Institutional Investors Weigh In On Cytokinetics
A number of institutional investors and hedge funds have recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new stake in Cytokinetics in the fourth quarter valued at approximately $27,000. Kestra Advisory Services LLC acquired a new position in Cytokinetics in the 4th quarter worth approximately $29,000. TD Waterhouse Canada Inc. purchased a new position in Cytokinetics during the 4th quarter worth approximately $32,000. Northwestern Mutual Wealth Management Co. raised its position in Cytokinetics by 46.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company's stock worth $35,000 after buying an additional 171 shares during the last quarter. Finally, Quarry LP acquired a new stake in Cytokinetics during the 3rd quarter valued at approximately $30,000.
Analyst Ratings Changes
CYTK has been the subject of a number of recent analyst reports. HC Wainwright lifted their target price on shares of Cytokinetics from $136.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, May 11th. Weiss Ratings restated a "sell (d-)" rating on shares of Cytokinetics in a research note on Monday, April 20th. UBS Group raised shares of Cytokinetics from a "neutral" rating to a "buy" rating and raised their price target for the stock from $69.00 to $115.00 in a report on Monday. Royal Bank Of Canada reiterated an "outperform" rating and set a $119.00 price objective on shares of Cytokinetics in a research note on Wednesday, June 17th. Finally, Robert W. Baird set a $84.00 price objective on shares of Cytokinetics in a report on Tuesday, March 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $100.00.
View 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.
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