Tocqueville Asset Management L.P. Sells 10,525 Shares of Kite Pharma Inc (KITE)
Tocqueville Asset Management L.P. cut its holdings in Kite Pharma Inc (NASDAQ:KITE) by 40.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,780 shares of the biopharmaceutical company’s stock after selling 10,525 shares during the period. Tocqueville Asset Management L.P.’s holdings in Kite Pharma were worth $2,837,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Winslow Evans & Crocker Inc. acquired a new stake in shares of Kite Pharma in the second quarter valued at approximately $124,000. Comerica Bank acquired a new stake in shares of Kite Pharma in the second quarter valued at approximately $201,000. Bender Robert & Associates acquired a new stake in shares of Kite Pharma in the third quarter valued at approximately $366,000. Biondo Investment Advisors LLC acquired a new stake in shares of Kite Pharma in the second quarter valued at approximately $218,000. Finally, Capital Investment Advisory Services LLC acquired a new stake in shares of Kite Pharma in the second quarter valued at approximately $238,000. Institutional investors own 87.72% of the company’s stock.
Shares of Kite Pharma Inc (NASDAQ:KITE) opened at $179.79 on Tuesday. Kite Pharma Inc has a 52-week low of $39.82 and a 52-week high of $179.95.
Kite Pharma (NASDAQ:KITE) last announced its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.97) by $0.03. The company had revenue of $10.10 million during the quarter, compared to analysts’ expectations of $9.59 million. Kite Pharma had a negative net margin of 1,092.54% and a negative return on equity of 59.15%. Kite Pharma’s quarterly revenue was up 110.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.91) earnings per share.
A number of equities analysts recently weighed in on KITE shares. Canaccord Genuity set a $115.00 target price on shares of Kite Pharma and gave the stock a “buy” rating in a report on Monday, July 10th. Jefferies Group LLC boosted their target price on shares of Kite Pharma from $101.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, July 10th. Maxim Group downgraded shares of Kite Pharma from a “buy” rating to a “hold” rating and set a $88.00 target price on the stock. in a report on Thursday, July 13th. Vetr upgraded shares of Kite Pharma from a “strong sell” rating to a “strong-buy” rating and set a $116.82 target price on the stock in a report on Monday, July 17th. Finally, Stifel Nicolaus restated a “hold” rating and set a $74.00 target price on shares of Kite Pharma in a report on Thursday, August 10th. Thirteen 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 has a consensus rating of “Hold” and a consensus target price of $94.68.
In other news, COO Cynthia M. Butitta sold 15,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $120.72, for a total value of $1,810,800.00. Following the completion of the sale, the chief operating officer now owns 132,795 shares of the company’s stock, valued at $16,031,012.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shawn Tomasello sold 4,203 shares of the business’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $179.66, for a total transaction of $755,110.98. The disclosure for this sale can be found here. In the last three months, insiders sold 70,187 shares of company stock valued at $11,353,324. 14.00% of the stock is currently owned by company 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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