Kite Pharma, Inc. (KITE) COO Sells $504,050.00 in Stock
Kite Pharma, Inc. (NASDAQ:KITE) COO Cynthia M. Butitta sold 5,000 shares of the stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $100.81, for a total transaction of $504,050.00. Following the completion of the transaction, the chief operating officer now directly owns 114,845 shares of the company’s stock, valued at approximately $11,577,524.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of Kite Pharma, Inc. (NASDAQ:KITE) traded up 2.74% during trading on Tuesday, hitting $103.18. 751,914 shares of the stock were exchanged. Kite Pharma, Inc. has a one year low of $39.82 and a one year high of $103.65. The stock’s 50 day moving average price is $78.48 and its 200-day moving average price is $66.86. The company’s market cap is $5.83 billion.
Kite Pharma (NASDAQ:KITE) last issued its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported ($1.74) EPS for the quarter, missing the consensus estimate of ($1.68) by $0.06. Kite Pharma had a negative return on equity of 55.80% and a negative net margin of 1,166.54%. The company had revenue of $9.80 million during the quarter, compared to analyst estimates of $8.85 million. During the same quarter in the prior year, the company posted ($0.60) earnings per share. The business’s revenue was up 92.2% compared to the same quarter last year. On average, analysts predict that Kite Pharma, Inc. will post ($8.05) EPS for the current year.
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Institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in shares of Kite Pharma during the fourth quarter valued at approximately $801,000. State Board of Administration of Florida Retirement System raised its position in shares of Kite Pharma by 0.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 21,963 shares of the biopharmaceutical company’s stock valued at $985,000 after buying an additional 200 shares in the last quarter. State Street Corp raised its position in shares of Kite Pharma by 24.2% in the fourth quarter. State Street Corp now owns 1,967,213 shares of the biopharmaceutical company’s stock valued at $88,217,000 after buying an additional 383,693 shares in the last quarter. Pacad Investment Ltd. bought a new position in shares of Kite Pharma during the fourth quarter valued at approximately $269,000. Finally, Seven Eight Capital LP bought a new position in shares of Kite Pharma during the fourth quarter valued at approximately $197,000. Hedge funds and other institutional investors own 85.33% of the company’s stock.
KITE has been the subject of a number of analyst reports. Roth Capital set a $93.00 price target on shares of Kite Pharma and gave the company a “buy” rating in a report on Monday, March 20th. Vetr raised shares of Kite Pharma from a “hold” rating to a “buy” rating and set a $78.37 price target for the company in a report on Monday, March 27th. Goldman Sachs Group, Inc. (The) increased their price target on shares of Kite Pharma from $85.00 to $89.00 and gave the company a “buy” rating in a report on Tuesday, May 9th. Wedbush downgraded shares of Kite Pharma from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $60.00 to $54.00 in a report 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 report on Friday, May 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $83.13.
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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