Shikiar Asset Management Inc. Sells 1,000 Shares of Kite Pharma, Inc. (KITE)
Shikiar Asset Management Inc. reduced its position in Kite Pharma, Inc. (NASDAQ:KITE) by 2.6% during the second quarter, Holdings Channel reports. The fund owned 37,600 shares of the biopharmaceutical company’s stock after selling 1,000 shares during the period. Kite Pharma makes up about 1.7% of Shikiar Asset Management Inc.’s portfolio, making the stock its 23rd largest position. Shikiar Asset Management Inc.’s holdings in Kite Pharma were worth $3,898,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in KITE. Advisors Asset Management Inc. increased its stake in Kite Pharma by 81.1% in the first quarter. Advisors Asset Management Inc. now owns 18,399 shares of the biopharmaceutical company’s stock worth $1,444,000 after buying an additional 8,242 shares during the last quarter. First Trust Advisors LP increased its stake in Kite Pharma by 0.5% in the first quarter. First Trust Advisors LP now owns 610,572 shares of the biopharmaceutical company’s stock worth $47,924,000 after buying an additional 3,300 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in Kite Pharma during the first quarter worth $2,747,000. Great West Life Assurance Co. Can increased 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 worth $392,000 after buying an additional 1,100 shares during the last quarter. Finally, Geneva Advisors LLC purchased a new stake in Kite Pharma during the first quarter worth $1,347,000. Institutional investors own 83.94% of the company’s stock.
Shares of Kite Pharma, Inc. (KITE) opened at 126.80 on Wednesday. The stock has a 50 day moving average price of $109.21 and a 200 day moving average price of $83.42. The company’s market capitalization is $7.25 billion. Kite Pharma, Inc. has a 1-year low of $39.82 and a 1-year high of $130.10.
Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.97) by $0.03. The business had revenue of $10.10 million during the quarter, compared to analyst estimates of $9.59 million. Kite Pharma had a negative return on equity of 59.56% and a negative net margin of 1,117.44%. The business’s revenue was up 110.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.91) earnings per share. On average, equities analysts anticipate that Kite Pharma, Inc. will post ($8.18) EPS for the current fiscal year.
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A number of research firms recently weighed in on KITE. Jefferies Group LLC restated a “buy” rating and issued a $135.00 target price (up previously from $121.00) on shares of Kite Pharma in a research report on Wednesday, August 9th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $74.00 price target on shares of Kite Pharma in a research note on Thursday, August 10th. Canaccord Genuity set a $120.00 price target on Kite Pharma and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Vetr cut Kite Pharma from a “buy” rating to a “hold” rating and set a $116.82 price target on the stock. in a research note on Monday, July 24th. Finally, Maxim Group cut Kite Pharma from a “buy” rating to a “hold” rating and set a $88.00 price target on the stock. in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has issued 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, EVP Timothy L. Moore sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $110.06, for a total value of $660,360.00. Following the completion of the sale, the executive vice president now directly owns 55,400 shares in the company, valued at $6,097,324. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy L. Moore sold 12,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $6,612,166. The disclosure for this sale can be found here. Insiders sold 266,299 shares of company stock valued at $28,364,633 over the last 90 days. Company 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.
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