Kite Pharma Inc (NASDAQ:KITE) issued its quarterly earnings data on Monday. The biopharmaceutical company reported ($1.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.68) by $0.06. Kite Pharma had a negative return on equity of 39.26% and a negative net margin of 994.89%. The firm had revenue of $9.80 million during the quarter, compared to analysts’ expectations of $8.85 million. During the same period in the previous year, the firm earned ($0.60) EPS. The firm’s quarterly revenue was up 92.2% on a year-over-year basis.
Kite Pharma (NASDAQ:KITE) traded down 2.46% during trading on Friday, hitting $70.71. 871,055 shares of the company traded hands. The company’s 50-day moving average is $78.25 and its 200 day moving average is $61.83. Kite Pharma has a 52-week low of $39.82 and a 52-week high of $88.58. The firm’s market cap is $4.00 billion.
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In other news, COO Cynthia M. Butitta sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $54.42, for a total value of $544,200.00. Following the completion of the sale, the chief operating officer now directly owns 127,795 shares in the company, valued at approximately $6,954,603.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roy Doumani sold 18,800 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $74.46, for a total value of $1,399,848.00. Following the completion of the sale, the director now owns 121,017 shares of the company’s stock, valued at $9,010,925.82. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 70,450 shares of company stock worth $4,863,126 and sold 540,558 shares worth $42,856,932. Corporate insiders own 20.60% of the company’s stock.
Large investors have recently modified their holdings of the stock. Seven Eight Capital LP purchased a new stake in shares of Kite Pharma during the fourth quarter worth $197,000. Baillie Gifford & Co. purchased a new stake in shares of Kite Pharma during the first quarter worth $201,000. BlackRock Inc. increased its stake in shares of Kite Pharma by 2.2% in the third quarter. BlackRock Inc. now owns 4,112 shares of the biopharmaceutical company’s stock worth $229,000 after buying an additional 90 shares during the period. Turner Investments LLC purchased a new stake in shares of Kite Pharma during the first quarter worth $235,000. Finally, Opus Point Partners Management LLC purchased a new stake in shares of Kite Pharma during the fourth quarter worth $241,000. Institutional investors and hedge funds own 80.73% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Cowen and Company reaffirmed a “neutral” rating and issued a $74.00 price objective on shares of Kite Pharma in a research report on Tuesday, May 9th. Raymond James Financial, Inc. downgraded shares of Kite Pharma from an “outperform” rating to a “mkt perform” rating in a research report on Monday, May 15th. Jefferies Group LLC set a $101.00 target price on shares of Kite Pharma and gave the stock a “buy” rating in a research note on Friday. BTIG Research reiterated a “neutral” rating on shares of Kite Pharma in a research note on Friday. Finally, Stifel Nicolaus cut shares of Kite Pharma from a “buy” rating to a “hold” rating and set a $74.00 target price for the company. in a research note on Friday, March 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. Kite Pharma currently has an average rating of “Hold” and a consensus target price of $80.97.
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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