Kite Pharma Breaks Down & Could Close the Gap (KITE)

Andrew Cummings
May 10, 2017

Yesterday, drug maker Kite Pharma Inc (NASDAQ:KITE) disclosed the death of a patient who was treated with KTE-C19, the company's CAR-T blood cancer drug, sending shares tumbling almost 13%. Qs Investors Ltd Limited Liability Company accumulated 1,880 shares or 0% of the stock. Out of 2 Wall Street analysts rating Regis Corporation, 0 give it "Buy", 1 "Sell" rating, while 1 recommend "Hold". Zacks Investment Research lowered shares of Kite Pharma from a buy rating to a hold rating in a report on Tuesday, January 17th. The business had revenue of $9.80 million during the quarter, compared to analyst estimates of $8.85 million. Based on 17 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $85.58, reflecting a -15.8% downside.

Kite Pharma, Inc.'s (KITE) witnessed a loss of -13.19% in recent trading period with closing price of $ 70.99. (NASDAQ:KITE) stock may see increased volatility following the report. Shikiar Asset Mgmt Inc owns 46,600 shares or 0.92% of their USA portfolio. The company also plans to move ZUMA-3, ZUMA-4 into phase II studies later this year. Wedbush's price target is based on 8x multiples of estimated combined U.S. and EU5 sales of CD19-directed CARs in 3rd line and 2nd line r/r DLBCL and r/r MCL in 2021 discounted back annually by 15%, and 8x multiple of combined United States and EU5 sales in pediatric and adult r/r ALL and r/r CLL in 2023, discounted back by 15%. Piermont Capital Incorporated accumulated 32,543 shares or 0.8% of the stock. State Board of Administration of Florida Retirement System raised its position in Kite Pharma by 0.9% in the fourth quarter.

A number of institutional investors have recently bought and sold shares of the stock. The correct version of this piece can be accessed at Cowen and Company restated an outperform rating on shares of Kite Pharma in a report on Thursday, April 6th.

Health care stocks were ending mostly lower today, with the NYSE Health Care Index dropping nearly 0.8% while shares of health care companies in the S&P 500 were down about 0.5% as a group. Analyst's mean target price for KITE is $86.54 while analysts mean recommendation is 2.10.

Price to Earning P/E ratio and Forward P/E stand at 0 and 0 respectively. DOUMANI ROY had sold 18,800 shares worth $1.40M on Wednesday, March 1. The company's 50-day moving average is $79.78 and its 200-day moving average is $59.84. During the same quarter past year, the company earned ($0.54) EPS.

COPYRIGHT VIOLATION NOTICE: This news story was first posted by Community Financial News and is owned by of Community Financial News. Mufg Americas Hldg Corporation reported 0% in Kite Pharma Inc (NASDAQ:KITE). California State Teachers Retirement System now owns 82,969 shares of the biopharmaceutical company's stock worth $4,635,000 after buying an additional 700 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Kite Pharma by 7.7% in the third quarter.

Before today, Kite Pharma was the clear leader with axicabtagene ciloleucel, formerly KTE-C19 (or axi-cel). 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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