Economy

Kite Pharma, Inc. (NASDAQ:KITE) Sees Significantly Higher Trading Volume

With short interest at 5,439,059 and short average daily volume at 3,797,464, the short-interest ratio is 1.0 and the short interest percentage is 0.10% as of August 31.

08/29/2017 - Kite Pharma, Inc. was downgraded to "neutral" by analysts at BTIG Research. The stock was sold at an average price of $120.09, for a total transaction of $750,682.59. The Firm serves the medical and biotechnology, military and aerospace, and industrial and commercial markets. The company rocked its 52-Week High of $179.84 and touched its 52-Week Low of $39.82. Wedbush downgraded Kite Pharma Inc (NASDAQ:KITE) on Tuesday, May 9 to "Underperform" rating. After $-1.94 actual earnings per share reported by Kite Pharma Inc for the previous quarter, Wall Street now forecasts 9.79% negative EPS growth. During the same period in the prior year, the company earned ($0.54) earnings per share. The median estimate represents a 0.38% increase from the last price.

The market experts are predicting a 40.89% rally, based on the high target price ($47) for Conagra Brands, Inc. shares that is likely to be hit in the 52 weeks.

In other Kite Pharma news, COO Cynthia M. Butitta sold 15,000 shares of the business's stock in a transaction on Thursday, August 10th. Nuveen Asset Management Ltd Limited Liability Company invested in 0.01% or 9,352 shares. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. DOUMANI ROY also sold $1.27 million worth of Kite Pharma Inc (NASDAQ:KITE) on Wednesday, June 7. Point72 Asset Management, L.p. controls 400,000 shares with a value of $41,468,000. The disclosure for this sale can be found here. Insiders have sold 184,500 shares of company stock worth $13,154,166 in the last 90 days.

A number of hedge funds have recently modified their holdings of the stock. Finally, Columbia Wanger Asset Management LLC acquired a new position in Kite Pharma in the first quarter worth $35,452,000. Insider ownership during the latest quarter decreased by a net of 170849 shares, indicating that KITE's key executives are feeling more bearish about the stock than they did three months ago. Rock Springs Capital Management Lp now holds 67,500 shares with a value of $6,998,000. Ameritas Investment Partners Inc. now owns 4,292 shares of the biopharmaceutical company's stock valued at $445,000 after acquiring an additional 638 shares in the last quarter. BlackRock Advisors LLC boosted its position in shares of Kite Pharma by 5.0% in the third quarter. After this trade, the EVP has an ownership of 22,259 company stock worth at $2,673,083.31. More interesting news about Kite Pharma Inc (NASDAQ:KITE) were released by: Bloomberg.com and their article: "Kite Pharma Defies Skeptics and Rewards Bulls With a Big Buyout" published on August 28, 2017 as well as Fool.com's news article titled: "Gilead Sciences CEO and oncology chief take on direct questions about why ..." with publication date: September 11, 2017. Can now owns 5,013 shares of the biopharmaceutical company's stock worth $392,000 after buying an additional 1,100 shares in the last quarter.

A number of equities analysts have commented on the stock. FBR & Co set a $78.00 target price on Kite Pharma and gave the stock a buy rating in a research report on Sunday, January 8th.

On August 29, 2017 the stock rating was set at "Hold" in a report from Canaccord Genuity which is down from the previous "Buy" rating. Interest Grp Inc holds 1.37M shares or 0.24% of its portfolio. (NASDAQ:KITE) have investors on high alert. If you are reading this news story on another publication, it was copied illegally and republished in violation of worldwide copyright law. Northern Trust Corporation has invested 0.02% of its portfolio in Kite Pharma Inc (NASDAQ:KITE). The Company is focused on the development and commercialization of cancer immunotherapy products to target and kill cancer cells. The Firm offers engineered autologous cell therapy, which is an approach to the treatment of cancer.



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