Kite Pharma Inc. (KITE) Stock Price Down 4.7%
Shares of Kite Pharma Inc. (NASDAQ:KITE) traded down 4.7% during trading on Friday . The stock traded as low as $57.92 and last traded at $58.11, with a volume of 180,266 shares changing hands. The stock had previously closed at $60.98.
Several analysts have recently commented on the stock. Zacks Investment Research raised shares of Kite Pharma from a “sell” rating to a “hold” rating in a research report on Thursday, May 12th. Mizuho reaffirmed a “buy” rating and set a $80.00 price target on shares of Kite Pharma in a research report on Friday, July 15th. Vetr lowered shares of Kite Pharma from a “buy” rating to a “hold” rating and set a $53.26 price target on the stock. in a research report on Tuesday, July 26th. Cowen and Company reaffirmed a “buy” rating on shares of Kite Pharma in a research report on Monday, June 20th. Finally, Barclays PLC set a $60.00 target price on shares of Kite Pharma and gave the company a “hold” rating in a report on Tuesday, August 9th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $73.93.
The stock’s market capitalization is $2.81 billion. The company has a 50-day moving average price of $58.19 and a 200 day moving average price of $50.98.
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Kite Pharma (NASDAQ:KITE) last announced its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.21) by $0.30. The business had revenue of $4.80 million for the quarter, compared to the consensus estimate of $4.86 million. Kite Pharma had a negative net margin of 873.86% and a negative return on equity of 32.91%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. Analysts expect that Kite Pharma Inc. will post ($5.83) EPS for the current year.
In other Kite Pharma news, COO Cynthia M. Butitta sold 10,000 shares of the stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $50.94, for a total transaction of $509,400.00. Following the transaction, the chief operating officer now owns 105,401 shares of the company’s stock, valued at $5,369,126.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Cynthia M. Butitta sold 20,000 shares of the stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $50.71, for a total transaction of $1,014,200.00. Following the transaction, the chief operating officer now directly owns 105,401 shares in the company, valued at approximately $5,344,884.71. The disclosure for this sale can be found here. Corporate insiders own 20.60% 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 eradicate cancer cells. The Company offers engineered autologous cell therapy (eACT), which is an approach to the treatment of cancer. It is conducting over four pivotal studies of its lead product candidate, KTE-C19, a CAR-based therapy.
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