Kite Pharma (KITE) : The total negative money flow of $0.89 million on Tuesday indicates selling on strength. The inflow of money on upticks was $9.38 million, compared to $10.27 million outflow on downticks, which confirms distribution in the stock. The up to down ratio was 0.91. The negative money flow of $0 million in block trades reveals that the informed traders sold the stock on every bit of price strength.The transaction value of block trade on downtick was $0.1 million. The price action in the Kite Pharma (KITE) stock suggests that both the bulls and the bears were in equilibrium. The stock traded at $59.49 with a gain of $1.45 , a change of 2.5% over the previous days close. The stock registered 1.45% for the week.
Also, Equity analysts at the Brokerage firm Barclays maintains its rating on Kite Pharma (NASDAQ:KITE). The rating major has initiated the coverage with equal-weight rating on the shares. The Analysts at Barclays 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. has dropped 2.69% in the last five trading days, however, the shares have posted positive gains of 2.95% in the last 4 weeks. Kite Pharma, Inc. is up 15.41% in the last 3-month period. Year-to-Date the stock performance stands at -4.72%.
Kite Pharma (NASDAQ:KITE): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $57.90 and $57.90 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $60.62. The buying momentum continued till the end and the stock did not give up its gains. It closed at $58.71, notching a gain of 1.15% for the day. The total traded volume was 748,777 . The stock had closed at $58.04 on the previous day.
In a related news, Kim Helen Susan, officer (EVP, Business Development) of Kite Pharma, Inc., unloaded 35,900 shares at an average price of $61.54 on August 12, 2016. The total amount of the transaction was worth $2,209,286, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
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.