Kite Pharma Takes Off

Kite Pharma Inc KITE shares are trading higher by $3.67 (7 percent) at $54.54 in Thursday's session. The double dose of an initiation of coverage at Raymond James coupled with collaboration with Cell Design Labs to develop molecular switches for CAR T-Cell immunotherapies has the issue sharply higher.

After a higher open, it retreated but found support just under Wednesday's close ($50.87), reaching $50.73 and resuming its move higher. So far, it has reached $54.95, which marks the highest level for the issue since it put in a pair of highs just over $56 in early March.