RS Investment Management Co. LLC lowered its stake in Kite Pharma Inc. (NASDAQ:KITE) by 7.9% during the second quarter, Holdings Channel reports. The fund owned 453,501 shares of the biopharmaceutical company’s stock after selling 38,937 shares during the period. RS Investment Management Co. LLC’s holdings in Kite Pharma were worth $22,675,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of KITE. Bank of Montreal Can purchased a new position in Kite Pharma during the second quarter valued at $320,000. Shikiar Asset Management Inc. boosted its position in Kite Pharma by 8.2% in the second quarter. Shikiar Asset Management Inc. now owns 39,500 shares of the biopharmaceutical company’s stock valued at $1,975,000 after buying an additional 3,000 shares during the last quarter. Creative Planning boosted its position in Kite Pharma by 11.2% in the second quarter. Creative Planning now owns 20,215 shares of the biopharmaceutical company’s stock valued at $1,011,000 after buying an additional 2,030 shares during the last quarter. First Republic Investment Management Inc. boosted its position in Kite Pharma by 101.1% in the first quarter. First Republic Investment Management Inc. now owns 739,867 shares of the biopharmaceutical company’s stock valued at $33,967,000 after buying an additional 372,034 shares during the last quarter. Finally, Iguana Healthcare Management LLC purchased a new position in Kite Pharma during the first quarter valued at $2,224,000. Hedge funds and other institutional investors own 75.28% of the company’s stock.
Shares of Kite Pharma Inc. (NASDAQ:KITE) traded down 0.66% during mid-day trading on Friday, hitting $54.57. The stock had a trading volume of 1,048,751 shares. The firm has a 50 day moving average price of $58.34 and a 200-day moving average price of $51.48. Kite Pharma Inc. has a 12 month low of $38.41 and a 12 month high of $89.84. The stock’s market cap is $2.71 billion.
Kite Pharma (NASDAQ:KITE) last released its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.30. Kite Pharma had a negative return on equity of 32.91% and a negative net margin of 873.86%. The company had revenue of $4.80 million for the quarter, compared to analyst estimates of $4.86 million. During the same period in the previous year, the company posted ($0.26) EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities research analysts forecast that Kite Pharma Inc. will post ($5.82) EPS for the current year.
Several research firms have weighed in on KITE. Stifel Nicolaus reiterated a “buy” rating and set a $74.00 price objective on shares of Kite Pharma in a research report on Thursday. Jefferies Group restated a “buy” rating and issued a $72.00 price target on shares of Kite Pharma in a research report on Monday, September 19th. Vetr cut Kite Pharma from a “strong-buy” rating to a “buy” rating and set a $63.91 price target on the stock. in a research report on Tuesday, September 13th. BTIG Research began coverage on Kite Pharma in a research report on Tuesday, August 30th. They issued a “neutral” rating on the stock. Finally, Mizuho set a $80.00 price target on Kite Pharma and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $73.93.
In other Kite Pharma news, SVP Jeffrey Wiezorek sold 1,500 shares of the company’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $50.00, for a total value of $75,000.00. Following the transaction, the senior vice president now directly owns 16,367 shares in the company, valued at approximately $818,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Helen Susan Kim sold 35,900 shares of the company’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $60.27, for a total value of $2,163,693.00. Following the completion of the transaction, the executive vice president now owns 42,500 shares in the company, valued at $2,561,475. The disclosure for this sale can be found here. 20.60% of the stock is owned by company insiders.
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 eradicate cancer cells. The Company offers engineered autologous cell therapy (eACT), which is an approach to the treatment of cancer. It is conducting over four pivotal studies of its lead product candidate, KTE-C19, a CAR-based therapy.
Want to see what other hedge funds are holding KITE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kite Pharma Inc. (NASDAQ:KITE).
Receive News & Ratings for Kite Pharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kite Pharma Inc. and related companies with MarketBeat.com's FREE daily email newsletter.