Insider Selling: Kite Pharma, Inc. (KITE) EVP Sells 6,000 Shares of Stock
Kite Pharma, Inc. (NASDAQ:KITE) EVP Timothy L. Moore sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $110.06, for a total value of $660,360.00. Following the completion of the sale, the executive vice president now owns 55,400 shares in the company, valued at approximately $6,097,324. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of Kite Pharma, Inc. (NASDAQ KITE) traded up 1.85% on Friday, hitting $112.58. The company’s stock had a trading volume of 397,541 shares. Kite Pharma, Inc. has a 52 week low of $39.82 and a 52 week high of $114.69. The company’s market cap is $6.37 billion. The stock’s 50 day moving average is $101.96 and its 200-day moving average is $78.58.
Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($1.74) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.68) by $0.06. The business had revenue of $9.80 million during the quarter, compared to analyst estimates of $8.85 million. Kite Pharma had a negative return on equity of 55.80% and a negative net margin of 1,166.54%. The company’s quarterly revenue was up 92.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.60) EPS. On average, equities research analysts anticipate that Kite Pharma, Inc. will post ($8.45) earnings per share for the current year.
Institutional investors have recently bought and sold shares of the company. Winslow Evans & Crocker Inc. purchased a new position in Kite Pharma during the second quarter valued at $124,000. Baillie Gifford & Co. purchased a new position in Kite Pharma during the first quarter valued at $201,000. Comerica Bank purchased a new position in Kite Pharma during the second quarter valued at $201,000. Turner Investments LLC purchased a new position in Kite Pharma during the first quarter valued at $235,000. Finally, Capital Investment Advisory Services LLC purchased a new position in Kite Pharma during the second quarter valued at $238,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.
A number of equities research analysts recently weighed in on KITE shares. Canaccord Genuity restated a “buy” rating and issued a $90.00 price target on shares of Kite Pharma in a report on Tuesday, May 9th. Vetr upgraded Kite Pharma from a “hold” rating to a “buy” rating and set a $85.40 price target on the stock in a report on Monday, May 8th. Roth Capital restated a “buy” rating and issued a $93.00 price target on shares of Kite Pharma in a report on Thursday, April 6th. Jefferies Group LLC restated a “buy” rating on shares of Kite Pharma in a report on Thursday, April 20th. Finally, Goldman Sachs Group, Inc. (The) upped their price target on Kite Pharma from $85.00 to $89.00 and gave the stock a “buy” rating in a report on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $87.38.
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.
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