Somewhat Favorable News Coverage Somewhat Unlikely to Affect Kite Pharma (KITE) Stock Price
Media stories about Kite Pharma (NASDAQ:KITE) have been trending somewhat positive this week, Accern Sentiment reports. Accern identifies negative and positive press coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Kite Pharma earned a news impact score of 0.19 on Accern’s scale. Accern also gave news articles about the biopharmaceutical company an impact score of 45.8936384010267 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
Kite Pharma (KITE) traded up $0.20 on Wednesday, reaching $179.99. 100 shares of the company’s stock traded hands, compared to its average volume of 1,652,408. Kite Pharma has a 12 month low of $39.82 and a 12 month high of $179.99.
Several research analysts recently issued reports on the stock. Canaccord Genuity set a $120.00 price target on shares of Kite Pharma and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Stifel Nicolaus reaffirmed a “hold” rating and set a $74.00 price objective on shares of Kite Pharma in a research note on Thursday, August 10th. Jefferies Group LLC reaffirmed a “buy” rating and set a $135.00 price objective (up from $121.00) on shares of Kite Pharma in a research note on Wednesday, August 9th. Vetr cut shares of Kite Pharma from a “buy” rating to a “hold” rating and set a $116.82 price objective on the stock. in a research note on Monday, August 7th. Finally, SunTrust Banks, Inc. cut shares of Kite Pharma from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. Thirteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $94.68.
In related news, CFO Paul L. Jenkinson sold 948 shares of the firm’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $179.66, for a total value of $170,317.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn Tomasello sold 4,203 shares of the firm’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $179.66, for a total transaction of $755,110.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,936 shares of company stock worth $8,791,842. 14.00% of the stock is currently owned by company insiders.
About Kite Pharma
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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