Cytokinetics Stock Jumps To Higher RS Level; Shoots Up On Heart Drug Study

On Thursday, Cytokinetics cleared a key performance benchmark, with its Relative Strength (RS) Rating entering into the 90-plus percentile with an improvement to 99, an increase from 89 the day before. The clinical-stage biotech company shot up 83% on Wednesday after announcing positive results from a Phase 3 study of its experimental drug to treat heart disease. The drug, Aficamten, which treats symptomatic obstructive hypertrophic cardiomyopathy (HCM) is a contender to challenge Bristol Myer Squibb's Camzyos drug.