Kite Pharma Inc. (NASDAQ:KITE)’s share price dropped 7.1% on Friday . The company traded as low as $46.80 and last traded at $48.40, with a volume of 2,993,531 shares traded. The stock had previously closed at $52.10.

KITE has been the topic of a number of recent analyst reports. Maxim Group reissued a “buy” rating on shares of Kite Pharma in a research report on Thursday, June 2nd. FBR & Co reaffirmed a “buy” rating on shares of Kite Pharma in a research report on Monday, May 2nd. Zacks Investment Research raised Kite Pharma from a “sell” rating to a “hold” rating in a research report on Thursday, March 31st. Canaccord Genuity reaffirmed a “buy” rating and issued a $75.00 target price on shares of Kite Pharma in a research report on Friday, March 18th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Kite Pharma in a research report on Monday, June 6th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $74.20.

The firm’s market capitalization is $2.38 billion. The firm has a 50 day moving average of $51.16 and a 200-day moving average of $49.57.

Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings results on Monday, May 9th. The biopharmaceutical company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($1.08) by $0.48. During the same period last year, the firm posted ($0.36) EPS. The company earned $5.10 million during the quarter, compared to the consensus estimate of $4.61 million. The company’s revenue for the quarter was up 77.1% compared to the same quarter last year. On average, equities analysts anticipate that Kite Pharma Inc. will post ($5.60) EPS for the current fiscal year.

In related news, Director Roy Doumani sold 10,000 shares of Kite Pharma stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $57.91, for a total value of $579,100.00. Following the sale, the director now owns 136,017 shares of the company’s stock, valued at approximately $7,876,744.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jeffrey Wiezorek sold 1,500 shares of Kite Pharma stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $50.00, for a total transaction of $75,000.00. Following the completion of the sale, the senior vice president now directly owns 16,367 shares in the company, valued at approximately $818,350. The disclosure for this sale can be found here.

Several large investors recently bought and sold shares of KITE. California State Teachers Retirement System boosted its stake in Kite Pharma by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 53,471 shares of the biopharmaceutical company’s stock worth $3,295,000 after buying an additional 900 shares during the period. Swiss National Bank boosted its stake in Kite Pharma by 28.1% in the fourth quarter. Swiss National Bank now owns 47,850 shares of the biopharmaceutical company’s stock worth $2,949,000 after buying an additional 10,500 shares during the period. Rhumbline Advisers boosted its stake in Kite Pharma by 10.2% in the fourth quarter. Rhumbline Advisers now owns 28,768 shares of the biopharmaceutical company’s stock worth $1,773,000 after buying an additional 2,660 shares during the period. California Public Employees Retirement System boosted its stake in Kite Pharma by 58.8% in the fourth quarter. California Public Employees Retirement System now owns 51,300 shares of the biopharmaceutical company’s stock worth $3,161,000 after buying an additional 19,000 shares during the period. Finally, Profund Advisors LLC boosted its stake in Kite Pharma by 10.0% in the fourth quarter. Profund Advisors LLC now owns 30,435 shares of the biopharmaceutical company’s stock worth $1,875,000 after buying an additional 2,760 shares during the period.

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 does this using its engineered autologous cell therapy (eACT), which is an approach to the treatment of cancer.

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