First Trust Advisors LP Has $49.45 Million Position in Kite Pharma, Inc. (NASDAQ:KITE)
First Trust Advisors LP cut its stake in shares of Kite Pharma, Inc. (NASDAQ:KITE) by 21.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 476,952 shares of the biopharmaceutical company’s stock after selling 133,620 shares during the period. First Trust Advisors LP’s holdings in Kite Pharma were worth $49,446,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the stock. Hussman Strategic Advisors Inc. bought a new position in shares of Kite Pharma during the first quarter valued at $2,747,000. Great West Life Assurance Co. Can boosted its position in 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 worth $392,000 after buying an additional 1,100 shares during the last quarter. Geneva Advisors LLC acquired a new position in Kite Pharma during the first quarter worth approximately $1,347,000. Essex Investment Management Co. LLC boosted its position in Kite Pharma by 8.0% in the first quarter. Essex Investment Management Co. LLC now owns 71,160 shares of the biopharmaceutical company’s stock worth $5,585,000 after buying an additional 5,273 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Kite Pharma by 72.9% in the first quarter. 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 last quarter. Institutional investors own 84.96% of the company’s stock.
Shares of Kite Pharma, Inc. (NASDAQ:KITE) opened at 120.04 on Friday. The firm’s market capitalization is $6.86 billion. Kite Pharma, Inc. has a 52-week low of $39.82 and a 52-week high of $122.19. The stock has a 50 day moving average of $107.82 and a 200-day moving average of $81.83.
Kite Pharma (NASDAQ:KITE) last released its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.97) by $0.03. The company had revenue of $10.10 million during the quarter, compared to the consensus estimate of $9.59 million. Kite Pharma had a negative net margin of 1,117.44% and a negative return on equity of 59.56%. Kite Pharma’s revenue for the quarter was up 110.4% on a year-over-year basis. During the same period last year, the firm earned ($0.91) EPS. Equities analysts expect that Kite Pharma, Inc. will post ($8.35) earnings per share for the current fiscal year.
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A number of equities analysts recently commented on KITE shares. Maxim Group set a $88.00 price target on Kite Pharma and gave the stock a “buy” rating in a report on Tuesday, May 9th. Goldman Sachs Group, Inc. (The) lifted their price target on Kite Pharma from $85.00 to $89.00 and gave the stock a “buy” rating in a report on Tuesday, May 9th. Canaccord Genuity reiterated a “buy” rating and set a $90.00 price target on shares of Kite Pharma in a report on Tuesday, May 9th. Jefferies Group LLC reiterated a “buy” rating on shares of Kite Pharma in a report on Thursday, April 20th. Finally, Vetr upgraded Kite Pharma from a “hold” rating to a “buy” rating and set a $85.40 price target for the company in a report on Monday, May 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $88.93.
In other Kite Pharma news, SVP Jeffrey Wiezorek sold 10,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $104.32, for a total value of $1,043,200.00. Following the sale, the senior vice president now directly owns 31,071 shares in the company, valued at approximately $3,241,326.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roy Doumani sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $84.48, for a total transaction of $1,267,200.00. Following the completion of the sale, the director now owns 155,017 shares in the company, valued at $13,095,836.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 245,048 shares of company stock valued at $25,803,151. 14.00% of the stock is owned by insiders.
About Kite Pharma
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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