Insider Selling: Kite Pharma, Inc. (KITE) Director Sells $1,836,205.50 in Stock

Kite Pharma, Inc. (NASDAQ:KITE) Director Farah Champsi sold 20,450 shares of the company’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $89.79, for a total transaction of $1,836,205.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Farah Champsi also recently made the following trade(s):

  • On Friday, April 28th, Farah Champsi sold 19,168 shares of Kite Pharma stock. The stock was sold at an average price of $82.75, for a total transaction of $1,586,152.00.
  • On Tuesday, April 25th, Farah Champsi sold 46,783 shares of Kite Pharma stock. The stock was sold at an average price of $82.80, for a total transaction of $3,873,632.40.
  • On Monday, April 24th, Farah Champsi sold 25,818 shares of Kite Pharma stock. The stock was sold at an average price of $82.34, for a total transaction of $2,125,854.12.
  • On Wednesday, April 26th, Farah Champsi sold 123,913 shares of Kite Pharma stock. The stock was sold at an average price of $82.67, for a total transaction of $10,243,887.71.
  • On Monday, April 17th, Farah Champsi sold 115,376 shares of Kite Pharma stock. The stock was sold at an average price of $82.42, for a total transaction of $9,509,289.92.

Kite Pharma, Inc. (KITE) opened at 91.21 on Wednesday. Kite Pharma, Inc. has a 52-week low of $39.82 and a 52-week high of $95.44. The firm’s market capitalization is $5.16 billion. The firm’s 50-day moving average is $78.48 and its 200-day moving average is $66.86.

Kite Pharma (NASDAQ:KITE) last released its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($1.74) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.68) by $0.06. The firm had revenue of $9.80 million for the quarter, compared to the consensus estimate 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 business’s revenue for the quarter was up 92.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.60) earnings per share. On average, equities analysts expect that Kite Pharma, Inc. will post ($8.05) earnings per share for the current year.

Insider Buying and Selling by Quarter for Kite Pharma (NASDAQ:KITE)

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Several research firms have recently weighed in on KITE. Wedbush reaffirmed an “underperform” rating and issued a $54.00 target price on shares of Kite Pharma in a report on Friday, June 16th. Stifel Nicolaus lowered shares of Kite Pharma from a “buy” rating to a “hold” rating and set a $74.00 target price on the stock. in a report on Friday, March 3rd. BTIG Research reaffirmed a “hold” rating on shares of Kite Pharma in a report on Thursday, March 30th. Canaccord Genuity set a $90.00 price objective on shares of Kite Pharma and gave the stock a “buy” rating in a report on Tuesday, June 6th. Finally, Cowen and Company reissued a “neutral” rating and set a $74.00 price objective on shares of Kite Pharma in a report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $83.13.

Several hedge funds have recently added to or reduced their stakes in KITE. Seven Eight Capital LP purchased a new stake in Kite Pharma during the fourth quarter valued at $197,000. Baillie Gifford & Co. purchased a new stake in Kite Pharma during the first quarter valued at $201,000. Turner Investments LLC purchased a new stake in Kite Pharma during the first quarter valued at $235,000. Opus Point Partners Management LLC purchased a new stake in Kite Pharma during the fourth quarter valued at $241,000. Finally, Pacad Investment Ltd. purchased a new stake in Kite Pharma during the fourth quarter valued at $269,000. Institutional investors own 85.33% of the company’s stock.

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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