Schroder Investment Management Group lowered its stake in shares of Kite Pharma, Inc. (NASDAQ:KITE) by 65.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,444 shares of the biopharmaceutical company’s stock after selling 16,011 shares during the period. Schroder Investment Management Group’s holdings in Kite Pharma were worth $472,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in KITE. Picton Mahoney Asset Management bought a new stake in shares of Kite Pharma during the second quarter valued at approximately $135,000. Strs Ohio increased its stake in Kite Pharma by 33.3% in the third quarter. Strs Ohio now owns 3,200 shares of the biopharmaceutical company’s stock valued at $178,000 after buying an additional 800 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Kite Pharma by 115.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,301 shares of the biopharmaceutical company’s stock valued at $184,000 after buying an additional 1,768 shares in the last quarter. BlackRock Inc. increased its stake in Kite Pharma by 91.9% in the second quarter. BlackRock Inc. now owns 4,022 shares of the biopharmaceutical company’s stock valued at $201,000 after buying an additional 1,926 shares in the last quarter. Finally, Amalgamated Bank acquired a new stake in Kite Pharma during the second quarter valued at about $243,000. Institutional investors and hedge funds own 76.70% of the company’s stock.
Shares of Kite Pharma, Inc. (NASDAQ:KITE) traded up 0.25% on Wednesday, reaching $47.58. The company’s stock had a trading volume of 773,998 shares. The stock’s market capitalization is $2.37 billion. Kite Pharma, Inc. has a 52 week low of $38.41 and a 52 week high of $64.30. The stock has a 50-day moving average of $48.77 and a 200 day moving average of $52.17.
Kite Pharma (NASDAQ:KITE) last announced its earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($1.49) earnings per share for the quarter, beating the consensus estimate of ($1.63) by $0.14. Kite Pharma had a negative return on equity of 39.26% and a negative net margin of 994.89%. The firm earned $7.34 million during the quarter, compared to the consensus estimate of $4.94 million. During the same quarter in the prior year, the company earned ($0.38) EPS. The firm’s revenue for the quarter was up 43.1% compared to the same quarter last year. On average, analysts expect that Kite Pharma, Inc. will post ($5.54) EPS for the current year.
KITE has been the topic of several analyst reports. Jefferies Group restated a “buy” rating and set a $72.00 price objective on shares of Kite Pharma in a report on Tuesday, September 27th. Roth Capital initiated coverage on Kite Pharma in a report on Wednesday, January 4th. They set a “buy” rating and a $68.00 price objective on the stock. BTIG Research restated a “hold” rating on shares of Kite Pharma in a report on Sunday, November 13th. Stifel Nicolaus set a $74.00 price objective on Kite Pharma and gave the stock a “buy” rating in a report on Thursday, October 6th. Finally, Zacks Investment Research upgraded Kite Pharma from a “sell” rating to a “hold” rating in a report on Friday, November 11th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Kite Pharma presently has a consensus rating of “Buy” and an average price target of $71.53.
In other Kite Pharma news, SVP Jeffrey Wiezorek sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $50.00, for a total value of $75,000.00. Following the completion of the transaction, the senior vice president now owns 22,195 shares of the company’s stock, valued at approximately $1,109,750. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Cynthia M. Butitta sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, January 6th. The shares were sold at an average price of $50.13, for a total value of $501,300.00. Following the completion of the transaction, the chief operating officer now directly owns 127,795 shares of the company’s stock, valued at approximately $6,406,363.35. The disclosure for this sale can be found here. 20.60% of the stock is owned by company 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 eradicate cancer cells. The Company offers engineered autologous cell therapy (eACT), which is an approach to the treatment of cancer. It is conducting over four pivotal studies of its lead product candidate, KTE-C19, a CAR-based therapy.
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