Kite Pharma Inc. (KITE) Stock Price Up 2.5%
Kite Pharma Inc. (NASDAQ:KITE) shares rose 2.5% on Thursday . The company traded as high as $59.46 and last traded at $58.91, with a volume of 342,064 shares trading hands. The stock had previously closed at $57.50.
KITE has been the subject of a number of analyst reports. Mizuho reissued a “buy” rating and issued a $80.00 price objective (down previously from $90.00) on shares of Kite Pharma in a research report on Tuesday, May 10th. Vetr raised shares of Kite Pharma from a “sell” rating to a “hold” rating and set a $57.97 price objective for the company in a research report on Wednesday. Royal Bank Of Canada reissued a “buy” rating on shares of Kite Pharma in a research report on Wednesday, May 18th. Barclays PLC initiated coverage on shares of Kite Pharma in a research report on Wednesday, July 6th. They issued an “equal weight” rating and a $58.00 price objective for the company. Finally, Jefferies Group reissued a “buy” rating on shares of Kite Pharma in a research report on Monday, May 9th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Kite Pharma currently has a consensus rating of “Buy” and an average price target of $73.53.
The stock’s market capitalization is $2.91 billion. The company’s 50-day moving average is $55.24 and its 200 day moving average is $50.09.
Kite Pharma (NASDAQ:KITE) last announced its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.91) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.21) by $0.30. During the same quarter in the prior year, the company earned ($0.26) EPS. The firm earned $4.80 million during the quarter, compared to analysts’ expectations of $4.86 million. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts predict that Kite Pharma Inc. will post ($5.83) earnings per share for the current fiscal year.
In other news, SVP Jeffrey Wiezorek sold 3,000 shares of the stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $50.65, for a total value of $151,950.00. Following the completion of the sale, the senior vice president now owns 16,367 shares in the company, valued at $828,988.55. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Roy Doumani sold 10,000 shares of the stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $57.91, for a total transaction of $579,100.00. Following the completion of the sale, 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 hedge fund recently bought a new stake in Kite Pharma stock. Dimensional Fund Advisors LP purchased a new stake in shares of Kite Pharma Inc. (NASDAQ:KITE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 33,891 shares of the biopharmaceutical company’s stock, valued at approximately $2,088,000. Dimensional Fund Advisors LP owned approximately 0.08% of Kite Pharma as of its most recent filing with the SEC.
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.