Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells $144,565.07 in Stock

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

Cytokinetics Price Performance

Shares of NASDAQ:CYTK opened at $43.43 on Monday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The firm has a fifty day moving average price of $46.72 and a 200 day moving average price of $50.75. Cytokinetics, Incorporated has a fifty-two week low of $40.53 and a fifty-two week high of $75.71. The firm 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 released its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, beating the consensus estimate of ($1.29) by $0.03. The business had revenue of $16.93 million for the quarter, compared to the consensus estimate of $14.26 million. As a group, sell-side analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cytokinetics

Several institutional investors have recently bought and sold shares of CYTK. Jones Financial Companies Lllp lifted its position in Cytokinetics by 189.8% during the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 374 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Cytokinetics during the fourth quarter valued at $29,000. AlphaQuest LLC lifted its position in Cytokinetics by 113,500.0% during the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 1,135 shares during the last quarter. J.Safra Asset Management Corp lifted its position in Cytokinetics by 62.1% during the fourth quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 671 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Cytokinetics by 85.8% during the fourth quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company’s stock valued at $86,000 after purchasing an additional 842 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a report on Thursday, February 6th. Mizuho increased their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. JMP Securities reissued a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research note on Friday, February 7th. Evercore ISI raised shares of Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. Finally, Citigroup began coverage on shares of Cytokinetics in a research note on Friday, February 7th. They issued a “buy” rating and a $86.00 price objective for the company. Two investment 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.00.

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.