Kite Pharma Inc. (NASDAQ:KITE) shares were up 4.9% during mid-day trading on Wednesday . The stock traded as high as $58.74 and last traded at $58.71, with a volume of 363,156 shares traded. The stock had previously closed at $55.98.

Several research analysts recently issued reports on KITE shares. Zacks Investment Research lowered shares of Kite Pharma from a “hold” rating to a “sell” rating in a research report on Wednesday, April 6th. Jefferies Group reiterated a “buy” rating and issued a $75.00 target price on shares of Kite Pharma in a research report on Monday, April 18th. Stifel Nicolaus reiterated a “buy” rating and issued a $63.00 target price on shares of Kite Pharma in a research report on Tuesday, April 19th. Mizuho reiterated a “buy” rating and issued a $90.00 target price on shares of Kite Pharma in a research report on Thursday, April 21st. Finally, Maxim Group reiterated a “buy” rating on shares of Kite Pharma in a research report on Wednesday, April 20th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Kite Pharma currently has a consensus rating of “Buy” and an average target price of $74.11.

The stock has a 50-day moving average price of $51.04 and a 200-day moving average price of $48.64. The company’s market capitalization is $2.91 billion.

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

In related news, SVP Jeffrey Wiezorek sold 3,000 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Roy Doumani sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $57.91, for a total transaction of $579,100.00. Following the transaction, the director now owns 136,017 shares of the company’s stock, valued at approximately $7,876,744.47. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors recently modified their holdings of KITE. Dimensional Fund Advisors LP bought a new position in shares of Kite Pharma during the fourth quarter worth about $2,088,000. Marshall Wace LLP acquired a new stake in Kite Pharma during the fourth quarter valued at approximately $10,926,000. Morgan Stanley increased its stake in 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 during the period. Mutual of America Capital Management LLC increased its stake in 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 during the period. Finally, GAM Holding AG increased its stake in 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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