Cynthia M. Butitta Sells 15,000 Shares of Kite Pharma, Inc. (NASDAQ:KITE) Stock
Kite Pharma, Inc. (NASDAQ:KITE) COO Cynthia M. Butitta sold 15,000 shares of the company’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $103.09, for a total value of $1,546,350.00. Following the sale, the chief operating officer now owns 132,795 shares of the company’s stock, valued at $13,689,836.55. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of Kite Pharma, Inc. (NASDAQ:KITE) traded up 2.54% during trading on Tuesday, hitting $103.70. The stock had a trading volume of 854,605 shares. The firm has a 50-day moving average price of $82.64 and a 200 day moving average price of $69.15. Kite Pharma, Inc. has a 52 week low of $39.82 and a 52 week high of $106.80. The company’s market capitalization is $5.86 billion.
Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported ($1.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $9.80 million during the quarter, compared to analysts’ expectations of $8.85 million. During the same quarter in the previous year, the company posted ($0.60) earnings per share. Kite Pharma’s revenue for the quarter was up 92.2% compared to the same quarter last year. Equities analysts anticipate that Kite Pharma, Inc. will post ($8.05) earnings per share for the current year.
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Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Kite Pharma by 16.1% in the first quarter. Vanguard Group Inc. now owns 3,661,547 shares of the biopharmaceutical company’s stock worth $287,395,000 after buying an additional 507,289 shares during the period. BlackRock Inc. raised its stake in Kite Pharma by 106,272.1% in the first quarter. BlackRock Inc. now owns 3,621,971 shares of the biopharmaceutical company’s stock worth $284,287,000 after buying an additional 3,618,566 shares during the period. Menora Mivtachim Holdings LTD. raised its stake in Kite Pharma by 13.9% in the first quarter. Menora Mivtachim Holdings LTD. now owns 1,433,899 shares of the biopharmaceutical company’s stock worth $112,547,000 after buying an additional 175,000 shares during the period. Point72 Asset Management L.P. raised its stake in Kite Pharma by 235.0% in the first quarter. Point72 Asset Management L.P. now owns 819,900 shares of the biopharmaceutical company’s stock worth $64,354,000 after buying an additional 575,178 shares during the period. Finally, First Trust Advisors LP raised its stake in Kite Pharma by 0.5% in the first quarter. First Trust Advisors LP now owns 610,572 shares of the biopharmaceutical company’s stock worth $47,924,000 after buying an additional 3,300 shares during the period. Hedge funds and other institutional investors own 85.33% of the company’s stock.
KITE has been the subject of several recent analyst reports. Roth Capital set a $93.00 price objective on Kite Pharma and gave the stock a “buy” rating in a research report on Monday, March 20th. Vetr upgraded Kite Pharma from a “hold” rating to a “buy” rating and set a $78.37 price objective for the company in a research report on Monday, March 27th. Goldman Sachs Group, Inc. (The) upped their price objective on Kite Pharma from $85.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, May 9th. Wedbush downgraded Kite Pharma from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $60.00 to $54.00 in a research report on Tuesday, May 9th. Finally, Jefferies Group LLC set a $101.00 price objective on Kite Pharma and gave the stock a “buy” rating in a research report on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Kite Pharma presently has an average rating of “Buy” and a consensus target price of $85.63.
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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