Boothbay Fund Management LLC Buys New Holdings in Kite Pharma, Inc. (KITE)
Boothbay Fund Management LLC bought a new position in Kite Pharma, Inc. (NASDAQ:KITE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 23,517 shares of the biopharmaceutical company’s stock, valued at approximately $4,229,000. Kite Pharma makes up approximately 0.7% of Boothbay Fund Management LLC’s portfolio, making the stock its 25th biggest holding.
A number of other institutional investors also recently added to or reduced their stakes in the business. Cowen Inc. bought a new stake in Kite Pharma in the third quarter worth $755,310,000. Allianz Asset Management GmbH lifted its holdings in shares of Kite Pharma by 267.7% during the third quarter. Allianz Asset Management GmbH now owns 214,270 shares of the biopharmaceutical company’s stock valued at $38,528,000 after purchasing an additional 156,001 shares in the last quarter. Evercore Wealth Management LLC bought a new position in shares of Kite Pharma during the third quarter valued at $153,000. OxFORD Asset Management LLP bought a new position in shares of Kite Pharma during the third quarter valued at $80,375,000. Finally, Vivaldi Asset Management LLC bought a new position in shares of Kite Pharma during the third quarter valued at $30,694,000. 87.72% of the stock is currently owned by institutional investors and hedge funds.
KITE has been the topic of a number of research analyst reports. Canaccord Genuity set a $120.00 price target on Kite Pharma and gave the company a “buy” rating in a report on Wednesday, August 9th. Jefferies Group reaffirmed a “buy” rating and set a $135.00 price target (up from $121.00) on shares of Kite Pharma in a report on Wednesday, August 9th. Stifel Nicolaus reaffirmed a “hold” rating and set a $74.00 price target on shares of Kite Pharma in a report on Thursday, August 10th. BTIG Research downgraded Kite Pharma from a “buy” rating to a “neutral” rating in a report on Monday, August 28th. Finally, SunTrust Banks downgraded Kite Pharma from a “buy” rating to a “hold” rating in a report on Monday, August 28th. Thirteen 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 stock. The company has an average rating of “Hold” and a consensus target price of $94.68.
Shares of Kite Pharma, Inc. (NASDAQ:KITE) opened at $179.99 on Thursday. Kite Pharma, Inc. has a 1 year low of $39.82 and a 1 year high of $179.99.
In related news, Chairman Arie Belldegrun sold 26,347 shares of the company’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $179.66, for a total transaction of $4,733,502.02. Following the completion of the sale, the chairman now owns 135,507 shares in the company, valued at $24,345,187.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Paul L. Jenkinson sold 948 shares of the company’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $179.66, for a total value of $170,317.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,936 shares of company stock valued at $8,791,842. 14.00% of the stock is 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.
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).
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.