Prudential PLC bought a new stake in Kite Pharma, Inc. (NASDAQ:KITE) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 27,711 shares of the biopharmaceutical company’s stock, valued at approximately $2,873,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. boosted its position in Kite Pharma by 106,272.1% in the first quarter. BlackRock Inc. now owns 3,621,971 shares of the biopharmaceutical company’s stock valued at $284,287,000 after buying an additional 3,618,566 shares during the last quarter. Bank of Montreal Can boosted its position in Kite Pharma by 17.0% in the second quarter. Bank of Montreal Can now owns 8,898 shares of the biopharmaceutical company’s stock valued at $923,000 after buying an additional 1,293 shares during the last quarter. 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 valued at $392,000 after buying an additional 1,100 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Kite Pharma in the first quarter valued at approximately $282,000. Finally, Fred Alger Management Inc. boosted its position in Kite Pharma by 128.6% in the second quarter. Fred Alger Management Inc. now owns 16,000 shares of the biopharmaceutical company’s stock valued at $1,659,000 after buying an additional 9,000 shares during the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

TRADEMARK VIOLATION WARNING: This report was posted by Daily Political and is the sole property of of Daily Political. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of United States and international copyright & trademark law. The legal version of this report can be viewed at https://www.dailypolitical.com/2017/10/10/prudential-plc-invests-2-87-million-in-kite-pharma-inc-kite-stock.html.

In other Kite Pharma news, EVP Timothy L. Moore sold 12,000 shares of the company’s stock in a transaction dated 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 directly owns 61,400 shares in the company, valued at $6,612,166. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Arie Belldegrun sold 26,347 shares of the company’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $179.66, for a total value of $4,733,502.02. Following the sale, the chairman now owns 135,507 shares of the company’s stock, valued at $24,345,187.62. The disclosure for this sale can be found here. Insiders have sold 194,785 shares of company stock valued at $25,776,870 over the last 90 days. 14.00% of the stock is currently owned by insiders.

Kite Pharma, Inc. (KITE) opened at 179.79 on Tuesday. Kite Pharma, Inc. has a one year low of $39.82 and a one year high of $179.95. The stock’s market capitalization is $10.28 billion. The company’s 50-day moving average price is $173.08 and its 200-day moving average price is $112.08.

Kite Pharma (NASDAQ:KITE) last announced its quarterly earnings results 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 analyst estimates 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 was up 110.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.91) earnings per share. Equities research analysts predict that Kite Pharma, Inc. will post ($8.24) EPS for the current year.

A number of brokerages recently commented on KITE. Canaccord Genuity lowered Kite Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, August 29th. Wedbush upgraded Kite Pharma from an “underperform” rating to a “neutral” rating in a research report on Tuesday, August 29th. SunTrust Banks, Inc. lowered Kite Pharma from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. Guggenheim lowered Kite Pharma from a “buy” rating to a “neutral” rating and set a $128.00 price objective on the stock. in a research report on Monday, August 28th. Finally, BTIG Research lowered Kite Pharma from a “buy” rating to a “neutral” rating in a research report on Monday, August 28th. Thirteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $94.68.

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.

Want to see what other hedge funds are holding KITE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kite Pharma, Inc. (NASDAQ:KITE).

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.