Paradis Paul, director & president at Sezzle, sells $472k in shares
John T. Henderson, a director at Cytokinetics Inc. (NASDAQ:CYTK), recently sold a portion of his holdings in the company. According to a recent SEC filing, Henderson sold 3,190 shares of common stock on April 15 at an average price of $38.66 per share, totaling $123,325. The transaction occurred near the current trading price of $39.15, with the stock showing a -44% return over the past year. The company currently maintains a market capitalization of $4.66 billion.
The transaction was part of a series of moves by Henderson on the same day. He also exercised stock options to acquire 20,000 shares at a price of $6.21 per share. Following these transactions, Henderson holds 66,348 shares directly and an additional 83 shares indirectly through his spouse.
These transactions are part of Henderson’s ongoing financial management activities, as indicated by the SEC Form 4 filing. Investors often keep a close eye on insider transactions as they can provide insight into the executive’s views on the company’s future prospects.
In other recent news, Bristol-Myers Squibb Company (NYSE:BMY) announced that its Phase 3 ODYSSEY-HCM trial did not meet its primary endpoints for the drug Camzyos in treating non-obstructive hypertrophic cardiomyopathy (nHCM). This development has led to a reevaluation of treatment strategies for the condition, although no new safety issues were reported. Citi analyst Geoff Meacham maintained a Neutral rating on Bristol-Myers, pointing out that the trial’s failure is a setback, but the drug’s impact on obstructive HCM remains promising. Meanwhile, BofA Securities reduced its price target for Cytokinetics to $54, citing potential implications from Bristol-Myers’ trial results on Cytokinetics’ own nHCM drug, aficamten. Despite this, JMP Securities reaffirmed a Market Outperform rating for Cytokinetics, maintaining a $78 price target, expressing confidence in aficamten’s potential. H.C. Wainwright also maintained a Buy rating on Cytokinetics, with a $120 target, highlighting positive Phase 2 data for another drug, EDG-7500™, in treating hypertrophic cardiomyopathy. These developments reflect ongoing scrutiny and expectations in the cardiac treatment market.
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