Kite Pharma (KITE) : 9 days before expiry, shorts in Kite Pharma (KITE) have reduced from 6,712,189 on Jul 29, 2016, to 6,605,242 on August 15, 2016. On an average, 705,679 shares are traded on the exchange. The outstanding bearish positions are equal to 15.7% of the float. Short sellers have covered -106,947 shares, a reduction of -1.6%, which underlines that they dont expect the stock to fall further from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Kite Pharma (NASDAQ:KITE): The stock opened at $59.75 on Wednesday but the bulls could not build on the opening and the stock topped out at $60.67 for the day. The stock traded down to $57.00 during the day, due to lack of any buying support eventually closed down at $57.50 with a loss of -4.69% for the day. The stock had closed at $60.33 on the previous day. The total traded volume was 908,100 shares.
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.