Kite Pharma, Inc. (NASDAQ:KITE) COO Sells $1,546,350.00 in Stock
Kite Pharma, Inc. (NASDAQ:KITE) COO Cynthia M. Butitta sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $103.09, for a total transaction of $1,546,350.00. Following the sale, the chief operating officer now owns 132,795 shares in the company, valued at $13,689,836.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Kite Pharma, Inc. (NASDAQ KITE) traded up 1.85% during midday trading on Friday, hitting $112.58. The company had a trading volume of 397,541 shares. The company’s market cap is $6.37 billion. The stock’s 50-day moving average price is $101.96 and its 200-day moving average price is $78.58. Kite Pharma, Inc. has a 12 month low of $39.82 and a 12 month high of $114.69.
Kite Pharma (NASDAQ:KITE) last released its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported ($1.74) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.68) by $0.06. Kite Pharma had a negative net margin of 1,166.54% and a negative return on equity of 55.80%. The company had revenue of $9.80 million for the quarter, compared to analyst estimates of $8.85 million. During the same quarter in the prior year, the firm earned ($0.60) EPS. The company’s revenue for the quarter was up 92.2% compared to the same quarter last year. On average, equities research analysts forecast that Kite Pharma, Inc. will post ($8.45) EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Winslow Evans & Crocker Inc. acquired a new position in shares of Kite Pharma during the second quarter worth about $124,000. Baillie Gifford & Co. acquired a new position in shares of Kite Pharma during the first quarter worth about $201,000. Comerica Bank acquired a new position in shares of Kite Pharma during the second quarter worth about $201,000. Turner Investments LLC acquired a new position in shares of Kite Pharma during the first quarter worth about $235,000. Finally, Capital Investment Advisory Services LLC acquired a new position in shares of Kite Pharma during the second quarter worth about $238,000. Institutional investors and hedge funds own 85.27% of the company’s stock.
Several equities analysts have commented on KITE shares. Goldman Sachs Group Inc increased their price target on shares of Kite Pharma from $85.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. Vetr lowered shares of Kite Pharma from a “buy” rating to a “hold” rating and set a $83.76 price target on the stock. in a research note on Monday, April 17th. Canaccord Genuity set a $115.00 price target on shares of Kite Pharma and gave the company a “buy” rating in a research note on Monday, July 10th. Wedbush lowered shares of Kite Pharma from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $60.00 to $54.00 in a research note on Tuesday, May 9th. Finally, Jefferies Group LLC set a $101.00 price target on shares of Kite Pharma and gave the company a “buy” rating in a research note on Friday, May 19th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $87.38.
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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