Kite Pharma Inc. (NASDAQ:KITE)’s share price shot up 2.5% during trading on Wednesday . The stock traded as high as $53.44 and last traded at $53.29, with a volume of 198,527 shares. The stock had previously closed at $52.00.

Several research firms recently commented on KITE. FBR & Co restated a “buy” rating on shares of Kite Pharma in a research report on Sunday, April 24th. Jefferies Group reiterated a “buy” rating and issued a $72.00 price objective on shares of Kite Pharma in a report on Saturday, July 9th. Mizuho reiterated a “hold” rating and issued a $80.00 price objective on shares of Kite Pharma in a report on Friday, July 8th. Stifel Nicolaus upped their price objective on Kite Pharma from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, July 13th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $75.00 price objective on shares of Kite Pharma in a report on Wednesday, July 13th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $73.75.

The firm’s market capitalization is $2.66 billion. The company’s 50-day moving average price is $50.74 and its 200-day moving average price is $48.57.

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

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

Other large investors have recently modified their holdings of the company. California State Teachers Retirement System boosted its stake in shares of Kite Pharma by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 53,471 shares of the biopharmaceutical company’s stock valued at $3,295,000 after buying an additional 900 shares during the period. Swiss National Bank boosted its stake in shares of Kite Pharma by 28.1% in the fourth quarter. Swiss National Bank now owns 47,850 shares of the biopharmaceutical company’s stock valued at $2,949,000 after buying an additional 10,500 shares during the period. Rhumbline Advisers boosted its stake in shares of Kite Pharma by 10.2% in the fourth quarter. Rhumbline Advisers now owns 28,768 shares of the biopharmaceutical company’s stock valued at $1,773,000 after buying an additional 2,660 shares during the period. California Public Employees Retirement System boosted its stake in shares of Kite Pharma by 58.8% in the fourth quarter. California Public Employees Retirement System now owns 51,300 shares of the biopharmaceutical company’s stock valued at $3,161,000 after buying an additional 19,000 shares during the period. Finally, GAM Holding AG boosted its stake in shares of Kite Pharma by 275.3% in the fourth quarter. GAM Holding AG now owns 30,400 shares of the biopharmaceutical company’s stock valued at $1,873,000 after buying an additional 22,300 shares during the period.

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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