Andrew Callos Sells 3,341 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 3,341 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $43.27, for a total transaction of $144,565.07. Following the transaction, the executive vice president now directly owns 64,434 shares of the company’s stock, valued at approximately $2,788,059.18. This trade represents a 4.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cytokinetics Stock Performance

Cytokinetics stock opened at $43.43 on Friday. The firm has a 50 day simple moving average of $46.72 and a 200-day simple moving average of $50.79. Cytokinetics, Incorporated has a 1-year low of $40.53 and a 1-year high of $75.71. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The stock has a market cap of $5.14 billion, a price-to-earnings ratio of -8.07 and a beta of 0.95.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.03. The company had revenue of $16.93 million for the quarter, compared to analysts’ expectations of $14.26 million. On average, analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CYTK shares. Needham & Company LLC reissued a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a report on Thursday, February 6th. Mizuho raised their target price on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Morgan Stanley raised shares of Cytokinetics from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $70.00 to $67.00 in a report on Thursday, February 13th. JMP Securities reissued a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a report on Friday, February 7th. Finally, Citigroup started coverage on shares of Cytokinetics in a report on Friday, February 7th. They set a “buy” rating and a $86.00 target price for the company. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cytokinetics currently has an average rating of “Moderate Buy” and a consensus target price of $82.00.

Hedge Funds Weigh In On Cytokinetics

Hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its position in shares of Cytokinetics by 21.3% during the 3rd quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company’s stock worth $3,802,000 after purchasing an additional 12,565 shares during the period. Harvey Capital Management Inc. purchased a new position in shares of Cytokinetics during the 4th quarter worth approximately $1,040,000. Westfield Capital Management Co. LP boosted its position in shares of Cytokinetics by 38.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock worth $64,040,000 after purchasing an additional 339,373 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Cytokinetics by 42.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock worth $69,769,000 after purchasing an additional 395,709 shares during the period. Finally, abrdn plc boosted its position in shares of Cytokinetics by 29.4% during the 4th quarter. abrdn plc now owns 450,513 shares of the biopharmaceutical company’s stock worth $21,192,000 after purchasing an additional 102,457 shares during the period.

About Cytokinetics

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.