Cynthia M. Butitta Sells 15,000 Shares of Kite Pharma, Inc. (NASDAQ:KITE) Stock
Kite Pharma, Inc. (NASDAQ:KITE) COO Cynthia M. Butitta sold 15,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $120.72, for a total value of $1,810,800.00. Following the sale, the chief operating officer now owns 132,795 shares in the company, valued at approximately $16,031,012.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Kite Pharma, Inc. (NASDAQ KITE) traded up 2.35% on Monday, reaching $122.86. The company’s stock had a trading volume of 880,611 shares. The company’s market capitalization is $7.03 billion. Kite Pharma, Inc. has a 1-year low of $39.82 and a 1-year high of $123.67. The stock has a 50-day moving average price of $108.46 and a 200-day moving average price of $82.86.
Kite Pharma (NASDAQ:KITE) last announced its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share for the quarter, beating the consensus estimate of ($1.97) by $0.03. Kite Pharma had a negative return on equity of 59.56% and a negative net margin of 1,117.44%. The company had revenue of $10.10 million for the quarter, compared to the consensus estimate of $9.59 million. During the same period last year, the business posted ($0.91) EPS. The company’s revenue was up 110.4% on a year-over-year basis. On average, equities research analysts forecast that Kite Pharma, Inc. will post ($8.18) EPS for the current year.
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Several hedge funds have recently bought and sold shares of KITE. Winslow Evans & Crocker Inc. acquired a new stake in Kite Pharma during the second quarter worth $124,000. Baillie Gifford & Co. acquired a new stake in Kite Pharma during the first quarter worth $201,000. Comerica Bank acquired a new stake in Kite Pharma during the second quarter worth $201,000. Biondo Investment Advisors LLC acquired a new stake in Kite Pharma during the second quarter worth $218,000. Finally, Turner Investments LLC acquired a new stake in Kite Pharma during the first quarter worth $235,000. Hedge funds and other institutional investors own 83.94% of the company’s stock.
KITE has been the topic of a number of research analyst reports. Vetr lowered Kite Pharma from a “buy” rating to a “hold” rating and set a $83.76 price target on the stock. in a research note on Monday, April 17th. Jefferies Group LLC restated a “buy” rating on shares of Kite Pharma in a research note on Thursday, April 20th. Canaccord Genuity set a $90.00 price target on Kite Pharma and gave the stock a “buy” rating in a research note on Thursday, April 20th. UBS AG lowered Kite Pharma from an “outperform” rating to a “market perform” rating in a research note on Monday, May 8th. Finally, 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. One research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $88.93.
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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