Kite Pharma Inc (KITE) Short Interest Update
Kite Pharma Inc (NASDAQ:KITE) was the recipient of a large growth in short interest during the month of April. As of April 28th, there was short interest totalling 9,225,586 shares, a growth of 1.4% from the April 13th total of 9,096,256 shares. Based on an average daily volume of 888,124 shares, the short-interest ratio is currently 10.4 days.
KITE has been the subject of several research reports. Raymond James Financial, Inc. cut shares of Kite Pharma from an “outperform” rating to a “mkt perform” rating in a research report on Monday, May 15th. BTIG Research restated a “neutral” rating on shares of Kite Pharma in a research report on Friday. Cowen and Company restated a “neutral” rating and issued a $74.00 price objective on shares of Kite Pharma in a research report on Tuesday, May 9th. Jefferies Group LLC set a $101.00 price objective on shares of Kite Pharma and gave the company a “buy” rating in a research report on Friday. Finally, Stifel Nicolaus cut shares of Kite Pharma from a “buy” rating to a “hold” rating and set a $74.00 price objective for the company. in a research report on Friday, March 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $80.97.
Kite Pharma (NASDAQ:KITE) traded up 1.22% on Monday, reaching $71.57. 878,589 shares of the company traded hands. The stock’s market capitalization is $4.05 billion. Kite Pharma has a one year low of $39.82 and a one year high of $88.58. The firm has a 50 day moving average of $78.05 and a 200-day moving average of $62.34.
Kite Pharma (NASDAQ:KITE) last issued its earnings results on Monday, May 8th. The biopharmaceutical company reported ($1.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.68) by $0.06. Kite Pharma had a negative return on equity of 39.26% and a negative net margin of 994.89%. The firm had revenue of $9.80 million during the quarter, compared to the consensus estimate of $8.85 million. During the same quarter in the prior year, the business earned ($0.60) earnings per share. Kite Pharma’s revenue for the quarter was up 92.2% on a year-over-year basis. On average, analysts anticipate that Kite Pharma will post ($8.16) EPS for the current year.
In related news, EVP Helen Susan Kim sold 50,300 shares of Kite Pharma stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $67.78, for a total transaction of $3,409,334.00. Following the completion of the transaction, the executive vice president now directly owns 50,265 shares of the company’s stock, valued at approximately $3,406,961.70. 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 10,000 shares of Kite Pharma stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $54.42, for a total transaction of $544,200.00. Following the transaction, the chief operating officer now directly owns 127,795 shares of the company’s stock, valued at $6,954,603.90. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 70,450 shares of company stock valued at $4,863,126 and have sold 540,558 shares valued at $42,856,932. Company insiders own 20.60% of the company’s stock.
Several institutional investors have recently modified their holdings of KITE. BlackRock Inc. boosted its position in shares of Kite Pharma by 106,272.1% in the first quarter. BlackRock Inc. now owns 3,621,971 shares of the biopharmaceutical company’s stock worth $284,287,000 after buying an additional 3,618,566 shares in the last quarter. Bainco International Investors boosted its position in shares of Kite Pharma by 2,722.8% in the third quarter. Bainco International Investors now owns 671,540 shares of the biopharmaceutical company’s stock worth $37,512,000 after buying an additional 647,750 shares in the last quarter. Capital International Investors boosted its position in shares of Kite Pharma by 81.3% in the third quarter. Capital International Investors now owns 1,314,200 shares of the biopharmaceutical company’s stock worth $73,411,000 after buying an additional 589,500 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Kite Pharma by 235.0% in the first quarter. Point72 Asset Management L.P. now owns 819,900 shares of the biopharmaceutical company’s stock worth $64,354,000 after buying an additional 575,178 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Kite Pharma by 16.1% in the first quarter. Vanguard Group Inc. now owns 3,661,547 shares of the biopharmaceutical company’s stock worth $287,395,000 after buying an additional 507,289 shares in the last quarter. Institutional investors own 80.73% of the company’s stock.
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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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