Kite Pharma Inc (NASDAQ:KITE)’s share price traded up 3.8% during mid-day trading on Wednesday . The company traded as high as $49.37 and last traded at $49.16, with a volume of 359,933 shares traded. The stock had previously closed at $47.37.

KITE has been the subject of a number of recent research reports. Canaccord Genuity reiterated a “buy” rating on shares of Kite Pharma in a research note on Monday, June 6th. Stifel Nicolaus reiterated a “buy” rating on shares of Kite Pharma in a research note on Monday, June 6th. Cowen and Company reiterated a “buy” rating on shares of Kite Pharma in a research note on Monday, June 6th. Mizuho reiterated a “buy” rating and set a $80.00 price objective on shares of Kite Pharma in a research note on Wednesday, June 8th. Finally, Maxim Group reiterated a “buy” rating on shares of Kite Pharma in a research note on Thursday, June 2nd. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $73.75.

The stock has a 50 day moving average of $51.09 and a 200-day moving average of $48.83. The stock’s market cap is $2.45 billion.

Kite Pharma (NASDAQ:KITE) last announced its quarterly earnings results on Monday, May 9th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.08) by $0.48. The company earned $5.10 million during the quarter, compared to analyst estimates of $4.61 million. The firm’s revenue for the quarter was up 77.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.36) EPS. On average, equities analysts anticipate that Kite Pharma Inc will post ($5.60) earnings per share for the current year.

In other Kite Pharma news, COO Cynthia M. Butitta sold 20,000 shares of Kite Pharma stock in a transaction on Monday, June 27th. The shares were sold at an average price of $50.71, for a total value of $1,014,200.00. Following the transaction, the chief operating officer now owns 105,401 shares in the company, valued at approximately $5,344,884.71. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jeffrey Wiezorek sold 3,000 shares of Kite Pharma stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $50.65, for a total transaction of $151,950.00. Following the completion of the transaction, the senior vice president now owns 16,367 shares in the company, valued at approximately $828,988.55. The disclosure for this sale can be found here.

Other institutional investors have modified their holdings of the company. Dimensional Fund Advisors LP acquired a new position in shares of Kite Pharma during the fourth quarter worth approximately $2,088,000. Marshall Wace LLP acquired a new position in shares of Kite Pharma during the fourth quarter worth approximately $10,926,000. Morgan Stanley increased its position in shares of Kite Pharma by 3.5% in the fourth quarter. Morgan Stanley now owns 21,628 shares of the biopharmaceutical company’s stock worth $1,332,000 after buying an additional 739 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of Kite Pharma by 0.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 16,336 shares of the biopharmaceutical company’s stock worth $1,007,000 after buying an additional 95 shares in the last quarter. Finally, Tekla Capital Management LLC increased its position in shares of Kite Pharma by 550.8% in the fourth quarter. Tekla Capital Management LLC now owns 41,000 shares of the biopharmaceutical company’s stock worth $2,526,000 after buying an additional 34,700 shares in the last quarter.

Kite Pharma, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of cancer immunotherapy products to eradicate cancer cells. The Company offers engineered autologous cell therapy (eACT), which is an approach to the treatment of cancer. It is conducting over four pivotal studies of its lead product candidate, KTE-C19, a CAR-based therapy.

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