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 https://www.chaffeybreeze.com/2017/05/09/kite-pharma-inc-kite-director-farah-champsi-sells-115376-shares-of-stock-updated-updated.html. 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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