Prudential Financial Inc. decreased its position in shares of Kite Pharma, Inc. (NASDAQ:KITE) by 92.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,960 shares of the biopharmaceutical company’s stock after selling 50,980 shares during the period. Prudential Financial Inc.’s holdings in Kite Pharma were worth $311,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new stake in Kite Pharma during the fourth quarter valued at approximately $801,000. Norges Bank bought a new stake in Kite Pharma during the fourth quarter valued at approximately $16,848,000. UBS Asset Management Americas Inc. raised its stake in Kite Pharma by 2.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 404,137 shares of the biopharmaceutical company’s stock valued at $18,122,000 after buying an additional 11,291 shares during the period. Hudson Bay Capital Management LP raised its stake in Kite Pharma by 61.8% in the fourth quarter. Hudson Bay Capital Management LP now owns 122,626 shares of the biopharmaceutical company’s stock valued at $5,499,000 after buying an additional 46,840 shares during the period. Finally, Teachers Advisors LLC raised its stake in shares of Kite Pharma by 2.2% in the fourth quarter. Teachers Advisors LLC now owns 116,735 shares of the biopharmaceutical company’s stock worth $5,234,000 after buying an additional 2,537 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.
Shares of Kite Pharma, Inc. (KITE) opened at 110.53 on Friday. The firm has a 50-day moving average of $101.96 and a 200 day moving average of $78.58. Kite Pharma, Inc. has a 52 week low of $39.82 and a 52 week high of $114.69. The company’s market cap is $6.25 billion.
Kite Pharma (NASDAQ:KITE) last posted its earnings results on Monday, May 8th. The biopharmaceutical company reported ($1.74) EPS for the quarter, missing analysts’ consensus estimates of ($1.68) by $0.06. Kite Pharma had a negative return on equity of 55.80% and a negative net margin of 1,166.54%. The firm had revenue of $9.80 million for the quarter, compared to analyst estimates of $8.85 million. During the same period in the previous year, the firm posted ($0.60) earnings per share. The company’s revenue for the quarter was up 92.2% on a year-over-year basis. Equities analysts expect that Kite Pharma, Inc. will post ($8.45) EPS for the current fiscal year.
ILLEGAL ACTIVITY WARNING: “Kite Pharma, Inc. (KITE) Shares Sold by Prudential Financial Inc.” was reported by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this story on another website, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this story can be viewed at https://stocknewstimes.com/2017/08/04/kite-pharma-inc-kite-shares-sold-by-prudential-financial-inc-updated.html.
A number of equities research analysts have issued reports on the company. UBS AG lowered Kite Pharma from an “outperform” rating to a “market perform” rating in a research note on Monday, May 8th. Cowen and Company reiterated a “neutral” rating and issued a $74.00 price target on shares of Kite Pharma in a research note on Tuesday, May 9th. Canaccord Genuity set a $90.00 price target on Kite Pharma and gave the stock a “buy” rating in a research note on Tuesday, June 6th. Vetr upgraded Kite Pharma from a “strong sell” rating to a “strong-buy” rating and set a $116.82 price target for the company in a research note on Monday, July 17th. Finally, BTIG Research reissued a “neutral” rating on shares of Kite Pharma in a report on Friday, May 19th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Kite Pharma presently has an average rating of “Buy” and an average price target of $87.38.
In related news, EVP Timothy L. Moore sold 12,000 shares of Kite Pharma stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $107.69, for a total value of $1,292,280.00. Following the completion of the sale, the executive vice president now owns 61,400 shares in the company, valued at $6,612,166. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Helen Susan Kim sold 26,649 shares of Kite Pharma stock in a transaction on Monday, July 31st. The stock was sold at an average price of $109.28, for a total transaction of $2,912,202.72. Following the completion of the sale, the executive vice president now owns 28,763 shares of the company’s stock, valued at approximately $3,143,220.64. The disclosure for this sale can be found here. Over the last three months, insiders have bought 70,450 shares of company stock worth $4,863,126 and have sold 159,099 shares worth $15,584,088. Insiders own 14.00% of the company’s stock.
Kite Pharma Company 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.
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.
