In trading on Wednesday, the SPDR S&P Biotech ETF is outperforming other ETFs, up about 2.3% on the day. Components of that ETF showing particular strength include shares of Puma Biotechnology, up about 10.4% and shares of Cytokinetics, up about 8.5% on the day.
Category: Cytokinetics
Biotech Premarket Movers: Cytokinetics, Artana Therapeutics, Bluebird
Leading gainers Monday morning included Cytokinetics , whose shares rallied about 7% premarket after Needham upgraded the late-stage biopharma company to a Strong Buy with a $22 per share upside. Among other things, Needham analyst Chad Messer wrote that Cytokinetics’ “Phase III VITALITY-ALS study of tirasemtiv in amyotrophic lateral sclerosis is expected to read out by year end”.