Correction imminent in Kite Pharma Inc. (NASDAQ:KITE)?

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Shares of Kite Pharma, Inc. (NASDAQ:KITE) have moved 58.32% so far this year and they are now 58.99% from where they were around this time last year.

Over the last six months the stock has moved 77.43%, while it has moved 33.14% over the last quarter. Over the last week and the last one month, the stock has moved -14.52% and -7.94%%, respectively.

The Barchart Technical Opinion rating is a 24% Sell with a Weakening short term outlook on maintaining the current direction. Longer term, the trend strength is Weak.

Kite Pharma’s shares dropped 13.19 percent to close at $70.99 a share on Monday. The stock traded between $68.61 and $76.00 on volume of 8.05 million shares traded. The company reported a net loss of $90.4 million, or $1.74 per share, for the first quarter of 2017, which fell short of analysts’ expectations of a loss of $1.68 per share, according to analysts’ surveyed by Zacks Investment Research. Revenues totaled $9.8 million for the quarter, which also fell short of analysts’ expectations of $15.3 million, according to Zacks. Shares of Kite Pharma have gained approximately 58.32 percent year-to-date.

Studying the stock’s moving averages shows its 20-Day Simple Moving Average to be $-12.41% while 50-Day Simple Moving Average is $-9.62% and 200-Day Simple Moving Average is $20.56%.

The stock has declined to a low of $38.06% over the last 50 days and jumped to a high of $-19.86% over the same period. However, the stock’s price range over the last 12 months is a high of $-19.86% and a low of $78.28%.

Analysts tracking Kite Pharma, Inc. have an average recommendation of 2.10 on its stock. For clarity, recommendation of 1 implies STRONG BUY, 3 implies HOLD and 5 implies SELL.

The stock is currently trading at $70.99, but it should be trading at $86.54 by the end of the next 12 months according to analysts.

The stock’s average volume, which is the average of three months, is 1.72M, while its relative volume is 5.13.

Insiders own 1.40% of Kite Pharma, Inc., while institutional investors own 84.20% of the company.

Of the company’s 54.99M shares outstanding, 53.19M are free float. Of the floating shares, 17.10% have been sold short and that brings short ratio to 5.30.

Kite Pharma, Inc. reported EPS for the last fiscal year and the current year’s EPS is expected to increase -134.30% over the previous year’s EPS.

The company?s next earnings date is scheduled for May 08/b.

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