Kite Pharma Inc (NASDAQ:KITE) was the target of a significant increase in short interest in the month of April. As of April 28th, there was short interest totalling 9,225,586 shares, an increase of 1.4% from the April 13th total of 9,096,256 shares. Based on an average trading volume of 888,124 shares, the days-to-cover ratio is currently 10.4 days.
In other news, Director Roy Doumani sold 18,800 shares of Kite Pharma stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $74.46, for a total value of $1,399,848.00. Following the sale, the director now directly owns 121,017 shares of the company’s stock, valued at $9,010,925.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Farah Champsi sold 46,783 shares of Kite Pharma stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $82.80, for a total value of $3,873,632.40. Following the completion of the sale, the director now directly owns 79,152 shares in the company, valued at $6,553,785.60. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 70,450 shares of company stock worth $4,863,126 and have sold 540,558 shares worth $42,856,932. 20.60% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Endurant Capital Management LP acquired a new position in shares of Kite Pharma during the third quarter valued at approximately $547,000. Capital International Sarl purchased a new stake in Kite Pharma during the third quarter valued at about $1,067,000. Capital International Investors boosted its stake in Kite Pharma by 81.3% in the third quarter. Capital International Investors now owns 1,314,200 shares of the biopharmaceutical company’s stock valued at $73,411,000 after buying an additional 589,500 shares during the period. Capital World Investors boosted its stake in Kite Pharma by 2.4% in the third quarter. Capital World Investors now owns 1,559,000 shares of the biopharmaceutical company’s stock valued at $87,086,000 after buying an additional 36,000 shares during the period. Finally, Capital Research Global Investors boosted its stake in Kite Pharma by 1.0% in the third quarter. Capital Research Global Investors now owns 6,075,623 shares of the biopharmaceutical company’s stock valued at $339,384,000 after buying an additional 61,170 shares during the period. 80.73% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on KITE shares. Wedbush started coverage on Kite Pharma in a report on Wednesday, February 1st. They issued a “neutral” rating and a $46.00 target price on the stock. Zacks Investment Research lowered Kite Pharma from a “hold” rating to a “sell” rating in a research report on Wednesday, February 8th. Wells Fargo & Co initiated coverage on Kite Pharma in a research report on Wednesday, February 22nd. They issued a “market perform” rating for the company. HC Wainwright reiterated a “buy” rating and issued a $85.00 price target (up previously from $78.00) on shares of Kite Pharma in a research report on Wednesday, February 22nd. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $72.00 price target on shares of Kite Pharma in a research report on Monday, February 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. Kite Pharma has an average rating of “Hold” and a consensus target price of $80.97.
Kite Pharma (NASDAQ:KITE) opened at 73.11 on Friday. Kite Pharma has a 12 month low of $39.82 and a 12 month high of $88.58. The firm’s 50 day moving average price is $77.61 and its 200 day moving average price is $62.90. The stock’s market cap is $4.13 billion.
Kite Pharma (NASDAQ:KITE) last announced its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($1.74) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.68) by $0.06. The firm had revenue of $9.80 million for the quarter, compared to analyst estimates of $8.85 million. Kite Pharma had a negative return on equity of 39.26% and a negative net margin of 994.89%. The firm’s quarterly revenue was up 92.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.60) EPS. On average, equities research analysts predict that Kite Pharma will post ($8.22) EPS for the current fiscal year.
About Kite Pharma
Kite Pharma, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of cancer immunotherapy products to target and kill cancer cells. The Company offers engineered autologous cell therapy, which is an approach to the treatment of cancer. Its therapy involves modifying a patient’s T cells outside the patient’s body, or ex vivo, causing the T cells to express chimeric antigen receptors (CARs), or T cell receptors (TCRs), and then reinfusing the engineered T cells back into the patient.
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