Neuberger Berman Group LLC Has $364,000 Holdings in Kite Pharma, Inc. (KITE)
Neuberger Berman Group LLC maintained its stake in Kite Pharma, Inc. (NASDAQ:KITE) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,511 shares of the biopharmaceutical company’s stock at the end of the 2nd quarter. Neuberger Berman Group LLC’s holdings in Kite Pharma were worth $364,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in KITE. Strs Ohio acquired a new stake in shares of Kite Pharma during the first quarter worth $447,000. Russell Investments Group Ltd. grew its stake in shares of Kite Pharma by 72.9% during the first quarter. Russell Investments Group Ltd. now owns 30,606 shares of the biopharmaceutical company’s stock worth $2,403,000 after purchasing an additional 12,909 shares during the period. Great West Life Assurance Co. Can grew its stake in shares of Kite Pharma by 28.1% during the first quarter. Great West Life Assurance Co. Can now owns 5,013 shares of the biopharmaceutical company’s stock worth $392,000 after purchasing an additional 1,100 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Kite Pharma by 24.2% during the first quarter. Bank of New York Mellon Corp now owns 254,995 shares of the biopharmaceutical company’s stock worth $20,014,000 after purchasing an additional 49,752 shares during the period. Finally, Swiss National Bank grew its stake in shares of Kite Pharma by 17.9% during the first quarter. Swiss National Bank now owns 76,950 shares of the biopharmaceutical company’s stock worth $6,040,000 after purchasing an additional 11,700 shares during the period. 87.72% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Jeffrey Wiezorek sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $104.32, for a total value of $1,043,200.00. Following the completion of the sale, the senior vice president now directly owns 31,071 shares in the company, valued at approximately $3,241,326.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Owen N. Witte sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 98,750 shares of the company’s stock, valued at $9,904,625. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,849 shares of company stock valued at $22,082,078. 14.00% of the stock is currently owned by company insiders.
Kite Pharma, Inc. (NASDAQ:KITE) opened at 179.30 on Friday. Kite Pharma, Inc. has a 52-week low of $39.82 and a 52-week high of $179.69. The firm’s market capitalization is $10.25 billion. The stock’s 50 day moving average price is $148.92 and its 200 day moving average price is $102.00.
Kite Pharma (NASDAQ:KITE) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, beating 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 return on equity of 59.56% and a negative net margin of 1,117.44%. The firm’s revenue for the quarter was up 110.4% compared to the same quarter last year. During the same period last year, the business posted ($0.91) EPS. On average, analysts predict that Kite Pharma, Inc. will post ($8.23) EPS for the current fiscal year.
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KITE has been the subject of a number of analyst reports. Canaccord Genuity set a $115.00 price objective on Kite Pharma and gave the stock a “buy” rating in a research note on Tuesday, June 27th. Roth Capital reaffirmed a “buy” rating and set a $93.00 price objective on shares of Kite Pharma in a research note on Tuesday, July 4th. Jefferies Group LLC lifted their price objective on Kite Pharma from $101.00 to $121.00 and gave the stock a “buy” rating in a research note on Monday, July 10th. Cowen and Company reaffirmed an “outperform” rating on shares of Kite Pharma in a research note on Tuesday, July 4th. Finally, Vetr raised Kite Pharma from a “strong sell” rating to a “strong-buy” rating and set a $116.82 price objective for the company in a research note on Monday, July 17th. Fifteen investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Kite Pharma currently has an average rating of “Hold” and a consensus target price of $91.10.
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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