Kite Pharma, Inc. (KITE) Position Reduced by Candriam Luxembourg S.C.A.
Candriam Luxembourg S.C.A. reduced its position in shares of Kite Pharma, Inc. (NASDAQ:KITE) by 46.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,550 shares of the biopharmaceutical company’s stock after selling 49,000 shares during the period. Candriam Luxembourg S.C.A. owned 0.10% of Kite Pharma worth $5,966,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Kite Pharma by 106,272.1% in the first quarter. BlackRock Inc. now owns 3,621,971 shares of the biopharmaceutical company’s stock worth $284,287,000 after buying an additional 3,618,566 shares during the last quarter. Point72 Asset Management L.P. increased its stake in shares of Kite Pharma by 235.0% in the first quarter. Point72 Asset Management L.P. now owns 819,900 shares of the biopharmaceutical company’s stock worth $64,354,000 after buying an additional 575,178 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Kite Pharma by 16.1% in the first quarter. Vanguard Group Inc. now owns 3,661,547 shares of the biopharmaceutical company’s stock worth $287,395,000 after buying an additional 507,289 shares during the last quarter. Columbia Wanger Asset Management LLC purchased a new stake in shares of Kite Pharma during the first quarter worth approximately $35,452,000. Finally, Norges Bank purchased a new stake in shares of Kite Pharma during the fourth quarter worth approximately $16,848,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.
Shares of Kite Pharma, Inc. (NASDAQ KITE) opened at 112.58 on Friday. The stock’s 50 day moving average is $101.96 and its 200 day moving average is $78.58. Kite Pharma, Inc. has a 52 week low of $39.82 and a 52 week high of $114.69. The stock’s market capitalization is $6.37 billion.
Kite Pharma (NASDAQ:KITE) last released its earnings results on Monday, May 8th. The biopharmaceutical company reported ($1.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.68) by $0.06. Kite Pharma had a negative return on equity of 55.80% and a negative net margin of 1,166.54%. The company had revenue of $9.80 million during the quarter, compared to analysts’ expectations of $8.85 million. During the same quarter in the previous year, the company earned ($0.60) EPS. The firm’s quarterly revenue was up 92.2% compared to the same quarter last year. Analysts anticipate that Kite Pharma, Inc. will post ($8.45) EPS for the current fiscal year.
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A number of equities research analysts recently commented on KITE shares. Goldman Sachs Group, Inc. (The) raised their price objective on shares of Kite Pharma from $85.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, May 9th. Vetr downgraded shares of Kite Pharma from a “buy” rating to a “hold” rating and set a $83.76 price objective for the company. in a research report on Monday, April 17th. Canaccord Genuity set a $115.00 price target on shares of Kite Pharma and gave the company a “buy” rating in a research report on Monday, July 10th. Wedbush downgraded shares of Kite Pharma from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $60.00 to $54.00 in a research report on Tuesday, May 9th. Finally, Jefferies Group LLC set a $101.00 price target on shares of Kite Pharma and gave the company a “buy” rating in a research report on Friday, May 19th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $87.38.
In other Kite Pharma news, EVP Timothy L. Moore sold 6,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $110.06, for a total value of $660,360.00. Following the completion of the sale, the executive vice president now owns 55,400 shares in the company, valued at approximately $6,097,324. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Timothy L. Moore sold 12,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $107.69, for a total transaction of $1,292,280.00. Following the completion of the sale, the executive vice president now owns 61,400 shares of the company’s stock, valued at approximately $6,612,166. The disclosure for this sale can be found here. In the last quarter, insiders acquired 70,450 shares of company stock valued at $4,863,126 and sold 165,099 shares valued at $16,244,448. 14.00% of the stock is owned by corporate insiders.
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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