Prudential Financial Inc. lowered its position in Kite Pharma, Inc. (NASDAQ:KITE) by 92.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,960 shares of the biopharmaceutical company’s stock after selling 50,980 shares during the period. Prudential Financial Inc.’s holdings in Kite Pharma were worth $311,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the company. Ameritas Investment Partners Inc. purchased a new stake in Kite Pharma during the first quarter valued at $287,000. Karp Capital Management Corp bought a new position in shares of Kite Pharma during the first quarter valued at about $363,000. Pacer Advisors Inc. bought a new position in shares of Kite Pharma during the first quarter valued at about $374,000. Great West Life Assurance Co. Can boosted its position in shares of Kite Pharma by 28.1% in the first quarter. Great West Life Assurance Co. Can now owns 5,013 shares of the biopharmaceutical company’s stock valued at $392,000 after buying an additional 1,100 shares during the period. Finally, Opus Point Partners Management LLC bought a new position in shares of Kite Pharma during the fourth quarter valued at about $241,000. 83.94% of the stock is owned by institutional investors.
Shares of Kite Pharma, Inc. (NASDAQ KITE) traded up 3.29% on Friday, hitting $130.18. The company’s stock had a trading volume of 1,058,415 shares. Kite Pharma, Inc. has a 52 week low of $39.82 and a 52 week high of $130.64. The company’s market cap is $7.44 billion. The stock’s 50 day moving average is $111.51 and its 200-day moving average is $84.63.
Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share for the quarter, topping the consensus estimate of ($1.97) by $0.03. Kite Pharma had a negative net margin of 1,117.44% and a negative return on equity of 59.56%. The firm had revenue of $10.10 million for the quarter, compared to analysts’ expectations of $9.59 million. During the same period in the previous year, the company posted ($0.91) EPS. The company’s quarterly revenue was up 110.4% compared to the same quarter last year. On average, equities research analysts anticipate that Kite Pharma, Inc. will post ($8.19) earnings per share for the current year.
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Several brokerages recently issued reports on KITE. Goldman Sachs Group, Inc. (The) boosted their price target on Kite Pharma from $85.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, May 9th. Jefferies Group LLC restated a “buy” rating and issued a $135.00 price target (up previously from $121.00) on shares of Kite Pharma in a research report on Wednesday, August 9th. Cowen and Company restated an “outperform” rating on shares of Kite Pharma in a research report on Tuesday, July 4th. BidaskClub upgraded Kite Pharma from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 9th. Finally, Raymond James Financial, Inc. reiterated a “mkt perform” rating on shares of Kite Pharma in a research report on Monday, May 8th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $88.93.
In other Kite Pharma news, COO Cynthia M. Butitta sold 5,000 shares of Kite Pharma stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $100.81, for a total transaction of $504,050.00. Following the completion of the sale, the chief operating officer now owns 114,845 shares of the company’s stock, valued at approximately $11,577,524.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jeffrey Wiezorek sold 10,000 shares of Kite Pharma stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $104.32, for a total transaction of $1,043,200.00. Following the sale, the senior vice president now directly owns 31,071 shares of the company’s stock, valued at approximately $3,241,326.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 266,299 shares of company stock worth $28,364,633. Corporate insiders own 14.00% of the company’s stock.
Kite Pharma Company Profile
Kite Pharma, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of cancer immunotherapy products to target and kill cancer cells. The Company offers engineered autologous cell therapy, which is an approach to the treatment of cancer. 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.
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