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Andrew Callos, the Executive Vice President and Chief Commercial Officer at Cytokinetics Inc. (NASDAQ:CYTK), has recently sold shares of the company. The biotechnology firm, currently valued at $5.16 billion, has seen its stock decline 7.67% year-to-date and trades near its 52-week low of $40.53. According to a filing with the Securities and Exchange Commission, Callos sold 3,341 shares of common stock on March 6, 2025, at an average price of $43.27 per share, totaling approximately $144,565. Following this transaction, Callos holds 64,434 shares directly. The sale was part of a transaction to cover taxes related to the vesting of restricted stock units. Despite current price levels, analysts maintain bullish targets ranging from $60 to $120 per share. InvestingPro analysis indicates strong liquidity with a current ratio of 6.17, though the stock appears overvalued at current levels. Get access to 8 more exclusive InvestingPro Tips for CYTK and comprehensive analysis of 1,400+ stocks.
In other recent news, Cytokinetics reported its fourth-quarter 2024 earnings, revealing a slight miss in earnings per share (EPS) compared to analyst expectations, with an EPS of -$1.26 against a forecast of -$1.22. However, the company demonstrated significant revenue growth, reporting $16.9 million for the quarter, a substantial increase from $1.7 million the previous year. The company’s full-year revenue for 2024 was $18.5 million, up from $7.5 million in 2023. Morgan Stanley (NYSE:MS) analysts upgraded Cytokinetics to Overweight, setting a price target of $67.00, anticipating significant developments such as the potential approval of aficamten for obstructive hypertrophic cardiomyopathy (HCM) in 2025.
Cytokinetics is preparing for the anticipated launch of aficamten, with a Prescription Drug User Fee Act (PDUFA) date set for September 26, 2025. Morgan Stanley noted the potential impact of the upcoming MAPLE-HCM study, which will compare aficamten to metoprolol for treating symptomatic obstructive HCM. The company has also submitted its 120-day safety update to the FDA and is expecting a mid-cycle meeting with the agency in March. Cytokinetics maintains a strong cash position with $1.2 billion in cash and investments, supporting its ongoing clinical trials and commercial preparations. The company has projected GAAP operating expenses for 2025 to be between $670 million and $710 million, with non-cash stock-based compensation expenses estimated between $110 million and $120 million.
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