Menora Mivtachim Holdings LTD. increased its stake in Kite Pharma Inc (NASDAQ:KITE) by 13.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,433,899 shares of the biopharmaceutical company’s stock after buying an additional 175,000 shares during the period. Kite Pharma makes up approximately 5.7% of Menora Mivtachim Holdings LTD.’s investment portfolio, making the stock its 2nd largest position. Menora Mivtachim Holdings LTD. owned about 2.86% of Kite Pharma worth $112,547,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Tocqueville Asset Management L.P. raised its position in shares of Kite Pharma by 5.3% in the third quarter. Tocqueville Asset Management L.P. now owns 36,050 shares of the biopharmaceutical company’s stock valued at $2,014,000 after buying an additional 1,800 shares in the last quarter. Sei Investments Co. raised its position in shares of Kite Pharma by 30.0% in the third quarter. Sei Investments Co. now owns 5,995 shares of the biopharmaceutical company’s stock valued at $334,000 after buying an additional 1,385 shares in the last quarter. BlackRock Advisors LLC raised its position in shares of Kite Pharma by 5.0% in the third quarter. BlackRock Advisors LLC now owns 48,634 shares of the biopharmaceutical company’s stock valued at $2,717,000 after buying an additional 2,311 shares in the last quarter. BlackRock Investment Management LLC raised its position in shares of Kite Pharma by 0.7% in the third quarter. BlackRock Investment Management LLC now owns 147,320 shares of the biopharmaceutical company’s stock valued at $8,229,000 after buying an additional 1,094 shares in the last quarter. Finally, BlackRock Inc. raised its position 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 valued at $229,000 after buying an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 80.73% of the company’s stock.
Shares of Kite Pharma Inc (NASDAQ:KITE) traded down 2.46% during midday trading on Friday, hitting $70.71. 871,055 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $78.25 and its 200-day moving average is $61.83. The stock’s market cap is $4.00 billion. Kite Pharma Inc has a 1-year low of $39.82 and a 1-year high of $88.58.
Kite Pharma (NASDAQ:KITE) last posted its earnings results on Monday, May 8th. The biopharmaceutical company reported ($1.74) EPS for the quarter, missing analysts’ consensus estimates of ($1.68) by $0.06. Kite Pharma had a negative return on equity of 39.26% and a negative net margin of 994.89%. The firm had revenue of $9.80 million for the quarter, compared to analyst estimates of $8.85 million. During the same period in the previous year, the firm posted ($0.60) earnings per share. The company’s revenue for the quarter was up 92.2% on a year-over-year basis. Analysts predict that Kite Pharma Inc will post ($8.16) earnings per share for the current fiscal year.
Several equities analysts have recently commented on KITE shares. Jefferies Group LLC restated a “buy” rating and issued a $72.00 price objective on shares of Kite Pharma in a report on Tuesday, January 24th. Wedbush started coverage on shares of Kite Pharma in a report on Wednesday, February 1st. They issued a “neutral” rating and a $46.00 price objective on the stock. Zacks Investment Research lowered shares of Kite Pharma from a “hold” rating to a “sell” rating in a report on Wednesday, February 8th. Wells Fargo & Co started coverage on shares of Kite Pharma in a report on Wednesday, February 22nd. They issued a “market perform” rating on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $85.00 price objective (up from $78.00) on shares of Kite Pharma in a report on Wednesday, February 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $80.97.
In other news, CFO Paul L. Jenkinson bought 3,450 shares of Kite Pharma stock in a transaction dated Wednesday, May 10th. The shares were acquired at an average cost of $72.59 per share, with a total value of $250,435.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Farah Champsi sold 46,783 shares of the business’s stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $82.80, for a total transaction of $3,873,632.40. Following the transaction, the director now directly owns 79,152 shares in the company, valued at $6,553,785.60. The disclosure for this sale can be found here. Over the last three months, insiders have bought 70,450 shares of company stock worth $4,863,126 and have sold 540,558 shares worth $42,856,932. Insiders own 20.60% 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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