Kite Pharma, Inc. (KITE) EVP Timothy L. Moore Sells 7,511 Shares
Kite Pharma, Inc. (NASDAQ:KITE) EVP Timothy L. Moore sold 7,511 shares of the firm’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $83.31, for a total value of $625,741.41. Following the transaction, the executive vice president now owns 41,889 shares of the company’s stock, valued at $3,489,772.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Kite Pharma, Inc. (KITE) traded up 0.01% during mid-day trading on Thursday, reaching $179.69. The company’s stock had a trading volume of 725,162 shares. The stock’s 50 day moving average price is $148.92 and its 200 day moving average price is $102.00. Kite Pharma, Inc. has a 1-year low of $39.82 and a 1-year high of $179.79. The stock’s market capitalization is $10.27 billion.
Kite Pharma (NASDAQ:KITE) last issued its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, topping analysts’ consensus estimates of ($1.97) by $0.03. Kite Pharma had a negative net margin of 1,117.44% and a negative return on equity of 59.56%. The firm had revenue of $10.10 million for the quarter, compared to analyst estimates of $9.59 million. During the same quarter in the previous year, the business posted ($0.91) EPS. The firm’s revenue was up 110.4% compared to the same quarter last year. Analysts expect that Kite Pharma, Inc. will post ($8.23) EPS for the current fiscal year.
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Several research analysts have recently commented on the company. Wedbush upgraded Kite Pharma from an “underperform” rating to a “neutral” rating in a research report on Tuesday, August 29th. Canaccord Genuity lowered Kite Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, August 29th. Guggenheim cut Kite Pharma from a “buy” rating to a “neutral” rating and set a $128.00 price objective on the stock. in a research note on Monday, August 28th. SunTrust Banks, Inc. cut Kite Pharma from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. Finally, BTIG Research cut Kite Pharma from a “buy” rating to a “neutral” rating in a research note on Monday, August 28th. Fourteen investment 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 company’s stock. The company has a consensus rating of “Hold” and an average target price of $92.64.
A number of hedge funds have recently modified their holdings of the business. Ameritas Investment Partners Inc. lifted its holdings in Kite Pharma by 17.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,292 shares of the biopharmaceutical company’s stock worth $445,000 after buying an additional 638 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Kite Pharma by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 86,578 shares of the biopharmaceutical company’s stock valued at $8,976,000 after purchasing an additional 709 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Kite Pharma by 22.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,773 shares of the biopharmaceutical company’s stock valued at $3,916,000 after purchasing an additional 7,028 shares in the last quarter. State Street Corp raised its stake in shares of Kite Pharma by 14.8% in the 2nd quarter. State Street Corp now owns 1,724,567 shares of the biopharmaceutical company’s stock valued at $178,785,000 after purchasing an additional 221,895 shares in the last quarter. Finally, Gotham Asset Management LLC acquired a new stake in shares of Kite Pharma in the 2nd quarter valued at about $552,000. Hedge funds and other institutional investors own 87.72% of the company’s stock.
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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