Kite Pharma Inc. (KITE) Trading Down 1.1%
Kite Pharma Inc. (NASDAQ:KITE)’s share price was down 1.1% during trading on Monday . The company traded as low as $57.46 and last traded at $57.99, with a volume of 152,445 shares traded. The stock had previously closed at $58.64.
A number of equities analysts have recently commented on KITE shares. FBR & Co reaffirmed a “buy” rating on shares of Kite Pharma in a report on Monday, May 2nd. Jefferies Group reaffirmed a “buy” rating on shares of Kite Pharma in a report on Monday, May 9th. Mizuho reaffirmed a “buy” rating and issued a $80.00 price target (down from $90.00) on shares of Kite Pharma in a report on Tuesday, May 10th. Canaccord Genuity reaffirmed a “buy” rating on shares of Kite Pharma in a report on Tuesday, May 10th. Finally, Maxim Group reaffirmed a “buy” rating and issued a $87.00 price target on shares of Kite Pharma in a report on Tuesday, May 10th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Kite Pharma has an average rating of “Buy” and an average price target of $73.53.
The firm’s 50 day moving average price is $55.24 and its 200-day moving average price is $50.09. The stock’s market cap is $2.88 billion.
Kite Pharma (NASDAQ:KITE) last announced its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.91) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.30. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. The company had revenue of $4.80 million for the quarter, compared to analysts’ expectations of $4.86 million. Kite Pharma’s quarterly revenue was up 9.1% on a year-over-year basis. Analysts forecast that Kite Pharma Inc. will post ($5.83) EPS for the current fiscal year.
In other news, SVP Jeffrey Wiezorek sold 3,000 shares of the business’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $50.65, for a total transaction of $151,950.00. Following the completion of the sale, the senior vice president now owns 16,367 shares of the company’s stock, valued at approximately $828,988.55. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Helen Susan Kim sold 35,900 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $60.27, for a total transaction of $2,163,693.00. Following the sale, the executive vice president now directly owns 42,500 shares of the company’s stock, valued at approximately $2,561,475. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in Kite Pharma stock. Dimensional Fund Advisors LP acquired a new position in shares of Kite Pharma Inc. (NASDAQ:KITE) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 33,891 shares of the biopharmaceutical company’s stock, valued at approximately $2,088,000. Dimensional Fund Advisors LP owned 0.08% of Kite Pharma at the end of the most recent reporting 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 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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