ARK Investment Management LLC lifted its position in shares of Kite Pharma, Inc. (NASDAQ:KITE) by 28.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,645 shares of the biopharmaceutical company’s stock after acquiring an additional 25,281 shares during the period. Kite Pharma comprises approximately 2.3% of ARK Investment Management LLC’s holdings, making the stock its 13th largest holding. ARK Investment Management LLC owned about 0.20% of Kite Pharma worth $11,678,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Kite Pharma by 9.2% during the 2nd quarter. Vanguard Group Inc. now owns 3,998,269 shares of the biopharmaceutical company’s stock valued at $414,501,000 after acquiring an additional 336,722 shares in the last quarter. BlackRock Inc. raised its position in shares of Kite Pharma by 10.3% during the 2nd quarter. BlackRock Inc. now owns 3,995,272 shares of the biopharmaceutical company’s stock valued at $414,190,000 after acquiring an additional 373,301 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Kite Pharma by 235.0% during the 1st quarter. Point72 Asset Management L.P. now owns 819,900 shares of the biopharmaceutical company’s stock valued at $64,354,000 after acquiring an additional 575,178 shares in the last quarter. Northern Trust Corp raised its position in shares of Kite Pharma by 20.5% during the 2nd quarter. Northern Trust Corp now owns 591,139 shares of the biopharmaceutical company’s stock valued at $61,283,000 after acquiring an additional 100,477 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Kite Pharma by 9.5% during the 1st quarter. Victory Capital Management Inc. now owns 478,322 shares of the biopharmaceutical company’s stock valued at $37,543,000 after acquiring an additional 41,548 shares in the last quarter. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Kite Pharma, Inc. (NASDAQ:KITE) traded down 0.06% on Friday, hitting $179.28. The stock had a trading volume of 662,072 shares. The firm’s 50-day moving average price is $148.92 and its 200-day moving average price is $102.00. Kite Pharma, Inc. has a 1-year low of $39.82 and a 1-year high of $179.69. The firm’s market cap is $10.25 billion.

Kite Pharma (NASDAQ:KITE) last issued its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.97) by $0.03. Kite Pharma had a negative return on equity of 59.56% and a negative net margin of 1,117.44%. The firm had revenue of $10.10 million during the quarter, compared to the consensus estimate of $9.59 million. During the same quarter in the previous year, the company posted ($0.91) EPS. The business’s revenue for the quarter was up 110.4% compared to the same quarter last year. On average, equities research analysts predict that Kite Pharma, Inc. will post ($8.23) earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “ARK Investment Management LLC Boosts Position in Kite Pharma, Inc. (KITE)” was originally posted by Daily Political and is the sole property of of Daily Political. If you are accessing this story on another publication, it was illegally copied and republished in violation of U.S. & international trademark and copyright legislation. The correct version of this story can be viewed at https://www.dailypolitical.com/2017/09/22/ark-investment-management-llc-boosts-position-in-kite-pharma-inc-kite.html.

KITE has been the topic of several research reports. FBR & Co reissued a “buy” rating on shares of Kite Pharma in a research report on Tuesday, May 30th. ValuEngine raised Kite Pharma from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Canaccord Genuity set a $90.00 price target on Kite Pharma and gave the company a “buy” rating in a research report on Tuesday, June 6th. Cowen and Company reissued a “buy” rating on shares of Kite Pharma in a research report on Wednesday, June 7th. Finally, BTIG Research raised Kite Pharma from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Thursday, June 8th. Fifteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $91.10.

In other Kite Pharma news, COO Cynthia M. Butitta sold 15,000 shares of Kite Pharma stock in a transaction on Monday, July 10th. The stock was sold at an average price of $103.09, for a total value of $1,546,350.00. Following the completion of the transaction, the chief operating officer now owns 132,795 shares in the company, valued at approximately $13,689,836.55. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Owen N. Witte sold 25,000 shares of Kite Pharma stock in a transaction on Monday, June 26th. The shares were sold at an average price of $100.30, for a total value of $2,507,500.00. Following the completion of the transaction, the director now owns 98,750 shares of the company’s stock, valued at approximately $9,904,625. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,849 shares of company stock valued at $22,082,078. Corporate insiders own 14.00% of the company’s stock.

Kite Pharma 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.

Institutional Ownership by Quarter for Kite Pharma (NASDAQ:KITE)

Receive News & Ratings for Kite Pharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kite Pharma Inc. and related companies with MarketBeat.com's FREE daily email newsletter.