Prudential Financial Inc. lowered its stake in Kite Pharma, Inc. (NASDAQ:KITE) by 92.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the company. Opus Point Partners Management LLC acquired a new position in shares of Kite Pharma during the fourth quarter valued at about $241,000. Ameritas Investment Partners Inc. purchased a new stake in Kite Pharma during the first quarter valued at approximately $287,000. Karp Capital Management Corp purchased a new stake in Kite Pharma during the first quarter valued at approximately $363,000. Pacer Advisors Inc. purchased a new stake in Kite Pharma during the first quarter valued at approximately $374,000. Finally, Great West Life Assurance Co. Can boosted its stake 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. Institutional investors own 83.94% of the company’s stock.
Kite Pharma, Inc. (NASDAQ:KITE) traded up 3.29% during trading on Friday, reaching $130.18. The company’s stock had a trading volume of 1,058,415 shares. Kite Pharma, Inc. has a 52-week low of $39.82 and a 52-week high of $130.64. The stock has a 50-day moving average price of $111.51 and a 200 day moving average price of $84.63. The company’s market cap is $7.44 billion.
Kite Pharma (NASDAQ:KITE) last issued its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 1,117.44% and a negative return on equity of 59.56%. Kite Pharma’s revenue for the quarter was up 110.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.91) earnings per share. On average, analysts expect that Kite Pharma, Inc. will post ($8.19) EPS for the current year.
A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus restated a “hold” rating and issued a $74.00 price target on shares of Kite Pharma in a research note on Thursday, August 10th. Jefferies Group LLC restated a “buy” rating and issued a $135.00 price target (up previously from $121.00) on shares of Kite Pharma in a research note on Wednesday, August 9th. Canaccord Genuity set a $120.00 price objective on Kite Pharma and gave the company a “buy” rating in a report on Wednesday, August 9th. Vetr lowered Kite Pharma from a “buy” rating to a “hold” rating and set a $116.82 price objective on the stock. in a report on Monday, August 7th. Finally, Maxim Group lowered Kite Pharma from a “buy” rating to a “hold” rating and set a $88.00 price objective on the stock. in a report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Kite Pharma has a consensus rating of “Hold” and an average target price of $88.93.
In other news, COO Cynthia M. Butitta sold 15,000 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $120.72, for a total transaction of $1,810,800.00. Following the transaction, the chief operating officer now directly owns 132,795 shares of the company’s stock, valued at $16,031,012.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Cynthia M. Butitta sold 10,000 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $88.55, for a total value of $885,500.00. Following the transaction, the chief operating officer now directly owns 127,795 shares in the company, valued at $11,316,247.25. The disclosure for this sale can be found here. Insiders sold 266,299 shares of company stock valued at $28,364,633 in the last three months. 14.00% of the stock is currently owned by insiders.
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.
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