Shares of Kite Pharma Inc (NASDAQ:KITE) are up over 6% this morning in pre-market trading after it was announced that FBR Capital analyst Ed White has issued an upgrade for the stock. With many milestones within reach for the company this year, White upgraded the company to an “Outperform” rating, which included a price target of $75.
This price target represents over a 35% increase over what the stock closed at on Friday. It should be interesting to see if other analysts upgrade Kite Pharma Inc (NASDAQ:KITE) as well., The company is currently developing chimeric antigen receptor and T cell receptor engineered T cells, with important studies taking place later this year. Just this past Wednesday the company signed a research and license agreement for T Cell receptors targeting HPV-associated cancers with Leiden University Medical Center.
The stock increased 1.29% or $0.71 during the last trading session, hitting $55.63. About 2,800 shares traded hands. KITE has declined 1.71% since June 12, 2015 and is downtrending. It has outperformed the S&P500 by 7.15%.
From a total of 4 analysts covering Kite Pharma (NASDAQ:KITE) stock, 3 rate it a “Buy”, 0 a “Sell”, and 1 a “Hold”. This means that 75% of the ratings are positive. The highest target price is $100 while the lowest target price is $64.0. The mean of all analyst targets is $88.45 which is 59.00% above today’s ($55.63) stock price. Kite Pharma was the topic of 13 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. Standpoint Research upgraded shares on December 15 to a “Buy” rating. Standpoint Research initiated shares with a”Buy” rating and a $100 target share price in their report from an August 18. Goldman Sachs initiated KITE stock in a recent report from November 18 with a “Buy” rating. Canaccord Genuity maintained the rating on August 14. Canaccord Genuity has a “Buy” rating and a $90 price target on shares. Finally, Mizuho maintained the stock with a “Outperform” rating in a report they issued on an August 17.
The institutional sentiment decreased to 1.04 in Q2 2015. It’s down 0.85, from 1.89 in 2015Q2. The ratio dropped, as 26 funds sold all their Kite Pharma Inc shares they owned while 49 reduced their positions. 19 funds bought stakes while 59 increased their total positions. Institutions now own 33.00 million shares which is 10.67% more than the previous share count of 29.82 million in 2015Q2.
Wildcat Capital Management Llc holds 49.02% of its total portfolio in Kite Pharma Inc, equating to 2.36 million shares. Ecor1 Capital Llc owns 281,400 shares representing 7.13% of their total US portfolio. Moreover, Rtw Investments Llc has 6.49% of their total portfolio invested in the company, equating to 369,850 shares. The California-based Silver Rock Financial Llc has a total of 4.79% of their portfolio invested in the stock. Dsam Partners Llp, a United Kingdom-based fund reported 265,640 shares owned.
Since March 31, 2015, the stock had 0 insider purchases, and 17 insider sales for a total of $8.75 million in net activity. Roberts Margo R sold 6,145 shares worth $384,509. Wiezorek Jeffrey sold 9,000 shares worth $563,319. Sproule Rizwana F sold 9,567 shares worth $598,731. Better Marc sold 9,000 shares worth $493,326. The insider Chang David D sold 7,700 shares worth $424,347.
Kite Pharma, Inc., is a clinical-stage biopharmaceutical company. The company has a market cap of $2.68 billion. The Firm is focused on the development and commercialization of cancer immunotherapy products to eradicate cancer cells. It currently has negative earnings. The Firm does this using its engineered autologous cell therapy , 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).