Investors Sell Kite Pharma, Inc. (KITE) on Strength (KITE)
Investors sold shares of Kite Pharma, Inc. (NASDAQ:KITE) on strength during trading hours on Thursday. $135.43 million flowed into the stock on the tick-up and $174.28 million flowed out of the stock on the tick-down, for a money net flow of $38.85 million out of the stock. Of all companies tracked, Kite Pharma had the 0th highest net out-flow for the day. Kite Pharma traded up $0.09 for the day and closed at $177.99
Several equities analysts have commented on KITE shares. Vetr upgraded shares of Kite Pharma from a “hold” rating to a “buy” rating and set a $85.40 price target for the company in a research note on Monday, May 8th. UBS AG downgraded shares of Kite Pharma from an “outperform” rating to a “market perform” rating in a research note on Monday, May 8th. Raymond James Financial, Inc. restated a “mkt perform” rating on shares of Kite Pharma in a research note on Monday, May 8th. They noted that the move was a valuation call. FBR & Co restated an “outperform” rating and issued a $91.00 price target (up previously from $90.00) on shares of Kite Pharma in a research note on Tuesday, May 9th. Finally, Canaccord Genuity restated a “buy” rating and issued a $90.00 price target on shares of Kite Pharma in a research note on Tuesday, May 9th. Fifteen analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $91.10.
The stock’s 50-day moving average is $126.21 and its 200-day moving average is $92.13. The company’s market capitalization is $10.18 billion.
Kite Pharma (NASDAQ:KITE) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.97) by $0.03. The company had revenue of $10.10 million during the quarter, compared to analyst estimates of $9.59 million. Kite Pharma had a negative net margin of 1,117.44% and a negative return on equity of 59.56%. The firm’s revenue for the quarter was up 110.4% compared to the same quarter last year. During the same period last year, the business earned ($0.91) EPS. Analysts forecast that Kite Pharma, Inc. will post ($8.19) EPS for the current fiscal year.
In other Kite Pharma news, COO Cynthia M. Butitta sold 10,000 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $88.55, for a total transaction of $885,500.00. Following the completion of the transaction, the chief operating officer now directly owns 127,795 shares of the company’s stock, valued at approximately $11,316,247.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Cynthia M. Butitta sold 5,000 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $100.81, for a total transaction of $504,050.00. Following the transaction, the chief operating officer now directly owns 114,845 shares of the company’s stock, valued at $11,577,524.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 266,299 shares of company stock valued at $28,364,633. 14.00% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of KITE. Winslow Evans & Crocker Inc. acquired a new position in Kite Pharma during the second quarter valued at approximately $124,000. Comerica Bank acquired a new position in Kite Pharma during the second quarter valued at approximately $201,000. Biondo Investment Advisors LLC acquired a new position in Kite Pharma during the second quarter valued at approximately $218,000. Capital Investment Advisory Services LLC acquired a new position in Kite Pharma during the second quarter valued at approximately $238,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in Kite Pharma during the second quarter valued at approximately $238,000. 89.14% of the stock is owned by institutional investors and hedge funds.
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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 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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