Kite Pharma (KITE) Shares are Up 2.68%

Kite Pharma (KITE) : Traders are bullish on Kite Pharma (KITE) as it has outperformed the S&P 500 by a wide margin of 22.37% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.62%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.68% in the last 1 week, and is up 23.63% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 10.62% and the 50-Day Moving Average is 14.41%. Kite Pharma (NASDAQ:KITE): stock turned positive on Friday. Though the stock opened at $58.45, the bulls momentum made the stock top out at $60.24 level for the day. The stock recorded a low of $57.99 and closed the trading day at $60.16, in the green by 2.49%. The total traded volume for the day was 673,544. The stock had closed at $58.7 in the previous days trading.


The company Insiders own 20.6% of Kite Pharma shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -7.09% . Institutional Investors own 75.89% of Kite Pharma shares. During last six month period, the net percent change held by insiders has seen a change of -7.09%. Also, Equity Analysts at the Barclays maintains the rating on Kite Pharma (NASDAQ:KITE). The brokerage firm has issued a Equal-weight rating on the shares. The Analysts at the ratings agency raises the price target from $58 per share to $60 per share. The rating by the firm was issued on August 9, 2016.

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 does this using its engineered autologous cell therapy (eACT), which is an approach to the treatment of cancer. eACT involves the genetic engineering of T cells to express either chimeric antigen receptors (CARs) or T cell receptors (TCRs). It is conducting a Phase II clinical trial of a TCR-based therapy and multiple Phase I-IIa clinical trials of CAR- and TCR-based therapies. The Companys lead product candidate KTE-C19, is a CAR-based therapy, for the treatment of refractory diffuse large B cell lymphoma (DLBCL), primary mediastinal B cell lymphoma (PMBCL) and transformed follicular lymphoma (TFL). It is developing a pipeline of eACT-based product candidates for the treatment of advanced solid and hematological malignancies: CD19CAR, KTE-C19CAR and EGFRvlll CAR, among others.

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