Kite Pharma Inc (KITE) Director Farah Champsi Sells 46783 Shares
- Author: Anthony Vega May 09, 2017,
May 09, 2017, 6:54
Kite Pharma, Inc.(NASDAQ:KITE)'s stock has performed at 82.38% year to date. 1,132,803 shares of the stock were exchanged. Profund Advisors LLC raised its position in shares of Kite Pharma by 0.8% in the first quarter. While the company has ample cash on hand, the market is concerned that the safety study death could lead the U.S. Food & Drug Administration to request an investigation - and a second death could halt the entire trial. Kite Pharma is now a Zacks Rank #3 (Hold).
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On 4/25/2017 Cynthia M Butitta, COO, sold 15,000 with an average share price of $81.85 per share and the total transaction amounting to $1,227,750.00. If you are reading this piece on another site, it was illegally copied and reposted in violation of global copyright & trademark legislation.
Currently, KITE stock has a Zacks Rank #3 (Hold), but that could definitely change following the company's earnings report which was just released. Following the completion of the transaction, the chief operating officer now directly owns 132,795 shares in the company, valued at $10,869,270.75. The disclosure for this sale can be found here. Howard Hughes Medical Institute increased its position in Kite Pharma by 7.8% in the third quarter. Seven Eight Capital LP bought a new position in Kite Pharma during the fourth quarter valued at $197,000. Russell Investments Group Ltd. now owns 30,606 shares of the biopharmaceutical company's stock worth $2,403,000 after buying an additional 12,909 shares during the period. BlackRock Fund Advisors now owns 1,751,216 shares of the biopharmaceutical company's stock worth $97,823,000 after buying an additional 94,421 shares during the last quarter. Corporate insiders own 20.60% of the company's stock. Finally, Rice Hall James & Associates LLC raised its position in shares of Kite Pharma by 1.0% in the first quarter. The correct version of this piece can be viewed at https://www.chaffeybreeze.com/2017/05/08/vetr-inc-downgrades-kite-pharma-inc-kite-to-hold-updated-updated.html. The Company is focused on the development and commercialization of cancer immunotherapy products to target and kill cancer cells. CAR-T is highly effective at eliminating cancer cells in patients no longer responsive to previous treatments but it's also risky. 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.
In a lengthy interview in January, Kite Pharma CEO Arie Belldegrun was adamant that his company's experimental cell therapy was different from one competitor, Juno Therapeutics, because unlike with Juno, no Kite patient had died from cerebral edema, or massive swelling in the brain.
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