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Kite Pharma Discloses CAR-T Patient Death, Rattling Investors

Kite Pharma Discloses CAR-T Patient Death, Rattling Investors

Loss Wider Than Expected: KITE reported first-quarter 2017 loss of 1.74 cents per share, wider than our consensus estimate of a loss of $1.68 cents per share. During the same period in the prior year, the firm earned ($0.60) earnings per share. The stock was sold at an average price of $75.01, for a total value of $1,350,180.00.

Kite Pharmaceuticals (KITE) is getting pulled down, falling 13%, after reporting a patient death in a clinical study for its lead drug candidate.

As the earnings date approaches, we can see that insider ownership is now 1.40% shares, and institutional ownership is at 84.20% for Kite Pharma, Inc. Kite Pharma has recorded a 50-day average of $79.78 and a two hundred day average of $59.84. 6 firms rating the stock a strong buy, 7 firms rating the stock a buy, 0 brokerages rating the stock a hold, 0 brokerages rating the stock a underperform, and finally 0 brokers rating the stock a sell with a average stock price target of $74.18. They set a "neutral" rating and a $46.00 price objective on the stock. Maxim Group reissued a buy rating and issued a $77.00 target price on shares of Kite Pharma in a research note on Tuesday, January 17th. Tocqueville Asset Management L.P. now owns 36,050 shares of the biopharmaceutical company's stock worth $2,014,000 after buying an additional 1,800 shares in the last quarter. The stock now has an average rating of Buy and a consensus price target of $80.55. Rhumbline Advisers now owns 41,939 shares of the biopharmaceutical company's stock valued at $2,343,000 after buying an additional 2,991 shares during the period. Rice Hall James & Associates LLC now owns 45,842 shares of the biopharmaceutical company's stock valued at $3,598,000 after buying an additional 440 shares during the last quarter. Finally, Rothschild Investment Corp IL acquired a new position in Kite Pharma during the first quarter worth $522,000. BlackRock Inc. now owns 4,112 shares of the biopharmaceutical company's stock worth $229,000 after buying an additional 90 shares in the last quarter.

CAR-T is a new form of cancer immunotherapy in which a patient's own T cells are removed and then engineered to identify and kill malignant blood cancer cells. Company insiders own 20.60% of the company's stock.

Bears sign OT Bradley Sowell to 1-year contract
With the slow-footed Mike Glennon now under center for the Bears, Massie could end up being a major liability at right tackle. Back in 2013, Sowell started 12 games for them at left tackle and was PFF's lowest graded tackle in the league that year.


The Kite death has reinforced the uncertainty around CAR-T therapies, which use live, genetically modified T cells, the attack soldiers of the immune system, to boost patients' defenses against cancer. Kite uses eACT to genetically modify T cells to express either CARs or TCRs. The Company is conducting a registrational Phase II clinical trial (ZUMA-1) of KTE-C19 in patients with relapsed or refractory aggressive diffuse large B cell lymphoma (DLBCL), primary mediastinal B cell lymphoma (PMBCL), or transformed follicular lymphoma (TFL).

To view Vetr's full report, visit Vetr's official website. On average, analysts anticipate that Kite Pharma will post ($8.14) EPS for the current year.

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