Markets

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.

Ocwen Financial Corporation (NYSE:OCN) Touching Most Active List
If we look at stock performance in last active day trading, we see that stock has moved climbs 10.26% to end the day at $1.29. Compass Point restated a neutral rating on shares of Ocwen Financial Corp in a report on Thursday, January 12th.


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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