Victory Capital Management Inc. Has $43.50 Million Position in Kite Pharma, Inc. (KITE)
Victory Capital Management Inc. decreased its position in shares of Kite Pharma, Inc. (NASDAQ:KITE) by 12.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 419,562 shares of the biopharmaceutical company’s stock after selling 58,760 shares during the period. Victory Capital Management Inc. owned approximately 0.74% of Kite Pharma worth $43,496,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Kite Pharma by 106,272.1% in the first quarter. BlackRock Inc. now owns 3,621,971 shares of the biopharmaceutical company’s stock worth $284,287,000 after buying an additional 3,618,566 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in Kite Pharma by 235.0% in the first quarter. Point72 Asset Management L.P. now owns 819,900 shares of the biopharmaceutical company’s stock worth $64,354,000 after buying an additional 575,178 shares during the last quarter. Vanguard Group Inc. boosted its stake in Kite Pharma by 16.1% in the first quarter. Vanguard Group Inc. now owns 3,661,547 shares of the biopharmaceutical company’s stock worth $287,395,000 after buying an additional 507,289 shares during the last quarter. Columbia Wanger Asset Management LLC purchased a new stake in Kite Pharma during the first quarter worth approximately $35,452,000. Finally, Menora Mivtachim Holdings LTD. boosted its stake in Kite Pharma by 13.9% in the first quarter. Menora Mivtachim Holdings LTD. now owns 1,433,899 shares of the biopharmaceutical company’s stock worth $112,547,000 after buying an additional 175,000 shares during the last quarter. 89.14% of the stock is owned by institutional investors.
Kite Pharma, Inc. (NASDAQ KITE) opened at 177.95 on Wednesday. Kite Pharma, Inc. has a 12-month low of $39.82 and a 12-month high of $178.40. The stock’s market capitalization is $10.18 billion. The firm’s 50-day moving average is $115.89 and its 200 day moving average is $87.67. Kite Pharma also was the target of some unusual options trading activity on Monday. Stock investors acquired 23,676 put options on the company. This represents an increase of 1,264% compared to the average volume of 1,736 put options.
Kite Pharma (NASDAQ:KITE) last issued its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.97) by $0.03. The business had revenue of $10.10 million for the quarter, compared to analysts’ expectations of $9.59 million. Kite Pharma had a negative net margin of 1,117.44% and a negative return on equity of 59.56%. The company’s revenue was up 110.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.91) earnings per share. Equities analysts expect that Kite Pharma, Inc. will post ($7.96) EPS for the current year.
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A number of brokerages have issued reports on KITE. Goldman Sachs Group, Inc. (The) upped their price target on shares of Kite Pharma from $85.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. Canaccord Genuity set a $115.00 price target on shares of Kite Pharma and gave the company a “buy” rating in a research note on Monday, July 10th. Wedbush lowered shares of Kite Pharma from a “neutral” rating to an “underperform” rating and cut their price target for the company from $60.00 to $54.00 in a research note on Tuesday, May 9th. Jefferies Group LLC set a $101.00 price target on shares of Kite Pharma and gave the company a “buy” rating in a research note on Friday, May 19th. Finally, Vetr upgraded shares of Kite Pharma from a “strong sell” rating to a “strong-buy” rating and set a $116.82 price target on the stock in a research note on Monday, July 17th. Fifteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $91.10.
In related news, EVP Helen Susan Kim sold 6,251 shares of Kite Pharma stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $120.09, for a total transaction of $750,682.59. Following the transaction, the executive vice president now directly owns 22,259 shares of the company’s stock, valued at $2,673,083.31. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Cynthia M. Butitta sold 15,000 shares of Kite Pharma stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $120.72, for a total value of $1,810,800.00. Following the transaction, the chief operating officer now directly owns 132,795 shares in the company, valued at $16,031,012.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 266,299 shares of company stock worth $28,364,633. 14.00% 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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