Here is the rundown on market activity for Kite Pharma, Inc. (NASDAQ:KITE). Roy Doumani, Director reported the sale of 15,000 shares of KITE stock. The shares were sold on June 8th for a price of $84.49. Doumani now owns $12,674,936 of the stock according to the SEC filing. Helen Susan Kim, EVP, Business Development disclosed the sale of 2,400 shares of (KITE). The shares were purchased at an average price of $72.45. The EVP, Business Development now owns $1,352,207 of the stock per the Form 4 SEC filing.
Chairman, President and CEO Arie Belldegrun disclosed the purchase of 17,000 shares. The shares were purchased at an average price of $68.57. The Chairman, President and CEO now owns $5,863,215 of the stock according to the SEC filing.
Kite Pharma, Inc., launched on June 1, 2009, 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. CARs can recognize native cancer antigens that are part of an intact protein presented on the cancer cell surface. Its lead product candidate, KTE-C19, is a CAR-based therapy that targets the CD19 antigen, a protein expressed on the cell surface of B-cell lymphomas and leukemias..
These funds have also shifted positions in (KITE). As of the end of the quarter Fny Managed Accounts LLC had bought 175 shares growing its position 3,500.0%. The value of the investment in KITE increased from $1,000 to $14,000 a change of 1,300.0% for the reporting period. As of quarter end Morgan Stanley had disposed of a total of 425 shares trimming its holdings by 20.5%. The value of the total investment in Kite Pharma, Inc. went from $93,000 to $130,000 increasing 39.8% quarter to quarter.
As of quarter end Goldman Sachs Group Inc had bought a total of 24,239 shares growing its stake by 283.4%. The value of the investment in (KITE) increased from $383,000 to $2,574,000 a change of $2,191,000 since the last quarter. As of quarter end Bainco International Investors had disposed of 271,700 shares trimming its position 23.6%. The value in dollars increased from $51,635,000 to $69,059,000 a change of $17,424,000 quarter over quarter.
On June 8 the company was upgraded from “Neutral” to “Buy” in a statement from BTIG Research. On November 21 analysts at H.C. Wainwright initiated coverage on KITE with a rating of “Buy”.
September 27 investment analysts at Barclays held the company rating at “Equal-weight” but raised the price target to $65.00 from $58.00. BTIG Research started coverage setting a rating of “Neutral”.
On July 6, 2016 Barclays began coverage with an initial rating of “Equal-weight” and price target of $58.00. Equity analyst Raymond James initiated coverage giving it an initial rating of “Outperform”.
The company is trading up from yesterday’s close of $86.67. Company chares are trading at $87.79 which is a tad above the 50 day moving average which is $76.92 and slightly over the 200 day moving average of $64.53. The 50 day moving average was up by +14.14% and the 200 day average was up $23.26.
As of the latest earnings report the EPS was $-6.31 and is projected to be $-7.86 for the current year with 56,545,000 shares currently outstanding. Next quarter’s EPS is forecasted at $-2.06 and the next full year EPS is anticipated to be $-6.43.
Investors are feeling more bearish on shares of the company if you put credence in the increase in short interest. The company realized a rise in short interest of 4.71% as of the latest report on April 28, 2017. Short interest increased from 9,225,586 to 9,660,446 over that period. Days to cover decreased from 10.4 to 5.1 and the short interest percentage is 0.17% as of April 28.