Kite Pharma, Inc. (NASDAQ:KITE) Downgraded by Vetr Inc.
Kite Pharma, Inc. (NASDAQ:KITE) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Monday. They presently have a $116.82 target price on the biopharmaceutical company’s stock. Vetr‘s price target indicates a potential upside of 3.40% from the stock’s current price.
Several other research firms also recently commented on KITE. Canaccord Genuity set a $115.00 target price on shares of Kite Pharma and gave the stock a “buy” rating in a report on Monday, July 10th. Jefferies Group LLC boosted their target price on shares of Kite Pharma from $101.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, July 10th. Maxim Group downgraded shares of Kite Pharma from a “buy” rating to a “hold” rating and set a $88.00 target price on the stock. in a report on Thursday, July 13th. Roth Capital reissued a “buy” rating and issued a $93.00 target price on shares of Kite Pharma in a report on Tuesday, July 4th. Finally, Cowen and Company reissued an “outperform” rating on shares of Kite Pharma in a report on Tuesday, July 4th. One investment 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 has a consensus rating of “Buy” and an average price target of $87.38.
Kite Pharma (NASDAQ KITE) traded up 3.51% during mid-day trading on Monday, hitting $112.98. 1,012,409 shares of the stock traded hands. Kite Pharma has a 12 month low of $39.82 and a 12 month high of $113.07. The company’s market cap is $6.39 billion. The company’s 50 day moving average is $97.22 and its 200 day moving average is $75.98.
Kite Pharma (NASDAQ:KITE) last released its earnings results 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 analysts’ expectations of $8.85 million. During the same period last year, the firm posted ($0.60) EPS. Kite Pharma’s quarterly revenue was up 92.2% compared to the same quarter last year. On average, analysts expect that Kite Pharma will post ($8.27) earnings per share for the current fiscal year.
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In other Kite Pharma news, COO Cynthia M. Butitta sold 15,000 shares of the stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $103.09, for a total transaction of $1,546,350.00. Following the transaction, the chief operating officer now directly owns 132,795 shares in the company, valued at approximately $13,689,836.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jeffrey Wiezorek sold 10,000 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $104.32, for a total transaction of $1,043,200.00. Following the transaction, the senior vice president now owns 31,071 shares in the company, valued at $3,241,326.72. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 70,450 shares of company stock worth $4,863,126 and sold 345,314 shares worth $29,952,828. Corporate insiders own 14.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of KITE. BlackRock Fund Advisors boosted its position in shares of Kite Pharma by 14.6% in the first quarter. BlackRock Fund Advisors now owns 1,508,215 shares of the biopharmaceutical company’s stock valued at $69,242,000 after buying an additional 192,512 shares during the last quarter. TD Asset Management Inc. boosted its position in shares of Kite Pharma by 148.7% in the first quarter. TD Asset Management Inc. now owns 61,550 shares of the biopharmaceutical company’s stock valued at $4,831,000 after buying an additional 36,800 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Kite Pharma during the third quarter valued at about $25,579,000. Alps Advisors Inc. acquired a new position in shares of Kite Pharma during the fourth quarter valued at about $3,881,000. Finally, First Republic Investment Management Inc. boosted its position in shares of Kite Pharma by 101.1% in the first quarter. First Republic Investment Management Inc. now owns 739,867 shares of the biopharmaceutical company’s stock valued at $33,967,000 after buying an additional 372,034 shares during the last quarter. Institutional investors own 85.24% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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