Kite Pharma Inc. (NASDAQ:KITE) shares rose 3.8% during trading on Wednesday . The company traded as high as $49.37 and last traded at $49.16, with a volume of 359,933 shares trading hands. The stock had previously closed at $47.37.

KITE has been the topic of a number of recent research reports. Mizuho reiterated a “buy” rating and issued a $80.00 price objective (down from $90.00) on shares of Kite Pharma in a research report on Tuesday, May 10th. Jefferies Group reiterated a “buy” rating on shares of Kite Pharma in a research report on Monday, May 9th. FBR & Co reiterated a “buy” rating on shares of Kite Pharma in a research report on Monday, May 2nd. Canaccord Genuity reiterated a “buy” rating on shares of Kite Pharma in a research report on Wednesday, April 20th. Finally, Maxim Group reiterated a “buy” rating on shares of Kite Pharma in a research report on Wednesday, April 20th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $73.75.

The firm’s market cap is $2.47 billion. The firm has a 50-day moving average of $51.03 and a 200-day moving average of $48.85.

Kite Pharma (NASDAQ:KITE) last announced its quarterly earnings data on Monday, May 9th. The biopharmaceutical company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($1.08) by $0.48. The firm had revenue of $5.10 million for the quarter, compared to analyst estimates of $4.61 million. The firm’s revenue for the quarter was up 77.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.36) earnings per share. Equities research analysts predict that Kite Pharma Inc. will post ($5.60) EPS for the current year.

In other Kite Pharma news, SVP Jeffrey Wiezorek sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $50.00, for a total transaction of $75,000.00. Following the completion of the transaction, the senior vice president now directly owns 16,367 shares in the company, valued at $818,350. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Cynthia M. Butitta sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $50.71, for a total transaction of $1,014,200.00. Following the transaction, the chief operating officer now owns 105,401 shares of the company’s stock, valued at $5,344,884.71. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP purchased a new position in shares of Kite Pharma during the fourth quarter valued at approximately $2,088,000. Marshall Wace LLP purchased a new position in shares of Kite Pharma during the fourth quarter valued at 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 valued at $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 valued at $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 valued at $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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