The Los Angeles Business Journal’s index of the largest local public companies fell for the week. The weighted LABJ index fell 3 percent to close at 213, with losers outpacing gainers 111 to 44. Five companies closed the week unchanged.
Among stocks trading above a dollar, Santa Monica’s Kite Pharma Inc., a cancer drug developer, was one of the week’s leading gainers. Shares rose 26 percent to close at $54.79 on Friday after several analysts raised their price targets on the stock and the company announced the pricing of its follow-on public offering.
Sherman Oaks apparel licensing firm Cherokee Inc. also had a good week. Shares rose 14 percent to close at $20.15 after the company posted better-than-expected earnings.
West Hollywood marijuana dispensing company Medbox Inc. was among the week’s losing stocks. Shares fell 33 percent to close the week at $5.32.
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