Investors Buy Large Volume of Call Options on Kite Pharma (KITE)
Kite Pharma Inc (NASDAQ:KITE) was the recipient of some unusual options trading activity on Monday. Stock investors purchased 13,160 call options on the company. This is an increase of approximately 710% compared to the average daily volume of 1,624 call options.
A number of research analysts recently weighed in on KITE shares. FBR & Co restated an “outperform” rating and set a $91.00 target price (up previously from $90.00) on shares of Kite Pharma in a research note on Tuesday, May 9th. Canaccord Genuity set a $115.00 target price on shares of Kite Pharma and gave the company a “buy” rating in a research note on Tuesday, June 27th. Roth Capital restated a “buy” rating and set a $93.00 target price on shares of Kite Pharma in a research note on Tuesday, July 4th. Jefferies Group LLC lifted their target price on shares of Kite Pharma from $101.00 to $121.00 and gave the company a “buy” rating in a research note on Monday, July 10th. Finally, Cowen and Company restated an “outperform” rating on shares of Kite Pharma in a research note on Tuesday, July 4th. Fifteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $91.10.
In related news, COO Cynthia M. Butitta sold 5,000 shares of Kite Pharma stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $100.81, for a total transaction of $504,050.00. Following the transaction, the chief operating officer now owns 114,845 shares in the company, valued at approximately $11,577,524.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Timothy L. Moore sold 12,000 shares of Kite Pharma stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $107.69, for a total transaction of $1,292,280.00. Following the transaction, the executive vice president now owns 61,400 shares in the company, valued at approximately $6,612,166. The disclosure for this sale can be found here. In the last three months, insiders have sold 266,299 shares of company stock valued at $28,364,633. Insiders own 14.00% of the company’s stock.
A number of large investors have recently modified their holdings of KITE. Capital Research Global Investors boosted its stake in shares of Kite Pharma by 1.9% in the second quarter. Capital Research Global Investors now owns 6,936,691 shares of the biopharmaceutical company’s stock worth $719,127,000 after buying an additional 132,400 shares during the last quarter. Vanguard Group Inc. boosted its stake in Kite Pharma by 9.2% in the second quarter. Vanguard Group Inc. now owns 3,998,269 shares of the biopharmaceutical company’s stock valued at $414,501,000 after buying an additional 336,722 shares in the last quarter. BlackRock Inc. boosted its stake in Kite Pharma by 10.3% in the second quarter. BlackRock Inc. now owns 3,995,272 shares of the biopharmaceutical company’s stock valued at $414,190,000 after buying an additional 373,301 shares in the last quarter. Capital World Investors boosted its stake in Kite Pharma by 6.3% in the second quarter. Capital World Investors now owns 2,570,400 shares of the biopharmaceutical company’s stock valued at $266,473,000 after buying an additional 153,400 shares in the last quarter. Finally, Wildcat Capital Management LLC boosted its stake in Kite Pharma by 2.2% in the second quarter. Wildcat Capital Management LLC now owns 2,410,034 shares of the biopharmaceutical company’s stock valued at $249,848,000 after buying an additional 51,950 shares in the last quarter. 89.14% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Kite Pharma (KITE) opened at 177.90 on Thursday. The stock’s market capitalization is $10.17 billion. Kite Pharma has a 12 month low of $39.82 and a 12 month high of $178.33. The stock’s 50 day moving average is $115.89 and its 200 day moving average is $87.67.
Kite Pharma (NASDAQ:KITE) last issued its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.97) by $0.03. The firm had revenue of $10.10 million for the quarter, compared to analysts’ expectations of $9.59 million. Kite Pharma had a negative net margin of 1,092.54% and a negative return on equity of 59.15%. The firm’s revenue was up 110.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.91) EPS. Analysts anticipate that Kite Pharma will post ($8.19) earnings per share for the current fiscal year.
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Kite Pharma Company Profile
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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