TD Asset Management Inc. boosted its position in Kite Pharma, Inc. (NASDAQ:KITE) by 148.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,550 shares of the biopharmaceutical company’s stock after buying an additional 36,800 shares during the period. TD Asset Management Inc. owned 0.12% of Kite Pharma worth $4,831,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in KITE. BlackRock Inc. raised its stake in shares of Kite Pharma by 2.2% in the third quarter. BlackRock Inc. now owns 4,112 shares of the biopharmaceutical company’s stock worth $229,000 after buying an additional 90 shares during the last quarter. Profund Advisors LLC raised its stake in shares of Kite Pharma by 0.8% in the first quarter. Profund Advisors LLC now owns 21,361 shares of the biopharmaceutical company’s stock worth $1,677,000 after buying an additional 161 shares during the last quarter. Boyer & Corporon Wealth Management LLC raised its stake in shares of Kite Pharma by 1.8% in the third quarter. Boyer & Corporon Wealth Management LLC now owns 10,203 shares of the biopharmaceutical company’s stock worth $570,000 after buying an additional 178 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Kite Pharma by 0.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 21,963 shares of the biopharmaceutical company’s stock worth $985,000 after buying an additional 200 shares during the last quarter. Finally, Rice Hall James & Associates LLC raised its stake in shares of Kite Pharma by 1.0% in the first quarter. Rice Hall James & Associates LLC now owns 45,842 shares of the biopharmaceutical company’s stock worth $3,598,000 after buying an additional 440 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Kite Pharma (NASDAQ:KITE)

Shares of Kite Pharma, Inc. (KITE) traded up 0.14% during mid-day trading on Friday, reaching $87.85. 1,237,834 shares of the company traded hands. The firm’s market capitalization is $4.97 billion. Kite Pharma, Inc. has a 52 week low of $39.82 and a 52 week high of $91.76. The firm has a 50-day moving average price of $78.04 and a 200 day moving average price of $66.04.

Kite Pharma (NASDAQ:KITE) last released its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($1.74) EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 company had revenue of $9.80 million for the quarter, compared to analysts’ expectations of $8.85 million. During the same quarter last year, the company earned ($0.60) EPS. Kite Pharma’s revenue for the quarter was up 92.2% compared to the same quarter last year. On average, analysts anticipate that Kite Pharma, Inc. will post ($8.05) earnings per share for the current year.

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A number of brokerages have recently weighed in on KITE. Vetr lowered shares of Kite Pharma from a “buy” rating to a “hold” rating and set a $83.76 target price on the stock. in a research note on Monday, April 17th. Wedbush reissued an “underperform” rating and set a $54.00 price target on shares of Kite Pharma in a research report on Friday. Canaccord Genuity reissued a “buy” rating and set a $90.00 price target on shares of Kite Pharma in a research report on Tuesday, May 9th. HC Wainwright reissued a “buy” rating and set a $85.00 price target on shares of Kite Pharma in a research report on Friday, May 19th. Finally, ValuEngine raised shares of Kite Pharma from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $83.13.

In other Kite Pharma news, COO Cynthia M. Butitta sold 10,000 shares of the stock in a transaction on Monday, March 27th. The stock was sold at an average price of $77.67, for a total value of $776,700.00. Following the completion of the transaction, the chief operating officer now owns 127,795 shares in the company, valued at $9,925,837.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven B. Ruchefsky sold 20,000 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $89.48, for a total value of $1,789,600.00. Following the completion of the transaction, the director now owns 205,426 shares of the company’s stock, valued at approximately $18,381,518.48. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 70,450 shares of company stock valued at $4,863,126 and have sold 448,908 shares valued at $37,369,692. 20.60% of the stock is owned by corporate 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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