Kite Pharma, Inc. (KITE) Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System grew its holdings in shares of Kite Pharma, Inc. (NASDAQ:KITE) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,000 shares of the biopharmaceutical company’s stock after purchasing an additional 1,800 shares during the quarter. California Public Employees Retirement System owned approximately 0.15% of Kite Pharma worth $8,812,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Kite Pharma by 9.2% during the 2nd quarter. Vanguard Group Inc. now owns 3,998,269 shares of the biopharmaceutical company’s stock valued at $414,501,000 after purchasing an additional 336,722 shares during the last quarter. Biondo Investment Advisors LLC purchased a new stake in shares of Kite Pharma during the 2nd quarter valued at $218,000. Northern Trust Corp increased its position in shares of Kite Pharma by 20.5% during the 2nd quarter. Northern Trust Corp now owns 591,139 shares of the biopharmaceutical company’s stock valued at $61,283,000 after purchasing an additional 100,477 shares during the last quarter. Nicholas Investment Partners LP increased its position in shares of Kite Pharma by 18.5% during the 2nd quarter. Nicholas Investment Partners LP now owns 27,100 shares of the biopharmaceutical company’s stock valued at $2,809,000 after purchasing an additional 4,229 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Kite Pharma by 26.0% during the 2nd quarter. New York State Common Retirement Fund now owns 57,818 shares of the biopharmaceutical company’s stock valued at $5,994,000 after purchasing an additional 11,913 shares during the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.

In related news, Chairman Arie Belldegrun sold 26,347 shares of the company’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $179.66, for a total transaction of $4,733,502.02. Following the completion of the sale, the chairman now owns 135,507 shares in the company, valued at $24,345,187.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Helen Susan Kim sold 79,949 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $119.56, for a total value of $9,558,702.44. Following the sale, the executive vice president now owns 98,613 shares of the company’s stock, valued at approximately $11,790,170.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 194,785 shares of company stock valued at $25,776,870. 14.00% of the stock is owned by company insiders.

Kite Pharma, Inc. (KITE) opened at 179.79 on Tuesday. The stock’s 50 day moving average price is $173.08 and its 200 day moving average price is $112.08. The company’s market cap is $10.28 billion. Kite Pharma, Inc. has a 1-year low of $39.82 and a 1-year high of $179.95.

Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, beating analysts’ consensus estimates of ($1.97) by $0.03. The company had revenue of $10.10 million during the quarter, compared to analysts’ expectations of $9.59 million. Kite Pharma had a negative return on equity of 59.56% and a negative net margin of 1,117.44%. Kite Pharma’s revenue for the quarter was up 110.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.91) earnings per share. On average, equities analysts anticipate that Kite Pharma, Inc. will post ($8.24) earnings per share for the current fiscal year.

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KITE has been the subject of several research analyst reports. Canaccord Genuity set a $115.00 target price on Kite Pharma and gave the company a “buy” rating in a research report on Tuesday, June 27th. Roth Capital reaffirmed a “buy” rating and set a $93.00 target price on shares of Kite Pharma in a research report on Tuesday, July 4th. Jefferies Group LLC raised their target price on Kite Pharma from $101.00 to $121.00 and gave the company a “buy” rating in a research report on Monday, July 10th. Cowen and Company reaffirmed an “outperform” rating on shares of Kite Pharma in a research report on Tuesday, July 4th. Finally, Vetr raised Kite Pharma from a “strong sell” rating to a “strong-buy” rating and set a $116.82 target price for the company in a research report on Monday, July 17th. Thirteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $94.68.

About Kite Pharma

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.

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

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