Gilder Gagnon Howe & Co. LLC Has $918,000 Stake in Kite Pharma, Inc. (NASDAQ:KITE)
Gilder Gagnon Howe & Co. LLC decreased its position in Kite Pharma, Inc. (NASDAQ:KITE) by 14.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 8,851 shares of the biopharmaceutical company’s stock after selling 1,465 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in Kite Pharma were worth $918,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. Capital Investment Advisory Services LLC bought a new stake in shares of Kite Pharma during the second quarter worth approximately $238,000. Sei Investments Co. boosted its stake in shares of Kite Pharma by 1,953.4% in the second quarter. Sei Investments Co. now owns 5,729 shares of the biopharmaceutical company’s stock worth $594,000 after buying an additional 5,450 shares during the period. Spark Investment Management LLC bought a new stake in shares of Kite Pharma during the second quarter worth approximately $5,525,000. Strs Ohio boosted its stake in shares of Kite Pharma by 45.6% in the second quarter. Strs Ohio now owns 8,300 shares of the biopharmaceutical company’s stock worth $860,000 after buying an additional 2,600 shares during the period. Finally, Shell Asset Management Co. bought a new stake in shares of Kite Pharma during the second quarter worth approximately $633,000. 84.96% of the stock is owned by institutional investors and hedge funds.
Shares of Kite Pharma, Inc. (NASDAQ:KITE) opened at 120.60 on Friday. The stock has a 50 day moving average price of $107.08 and a 200-day moving average price of $81.31. The company’s market capitalization is $6.83 billion. Kite Pharma, Inc. has a one year low of $39.82 and a one year high of $122.19.
Kite Pharma (NASDAQ:KITE) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.97) by $0.03. Kite Pharma had a negative return on equity of 59.56% and a negative net margin of 1,117.44%. The firm had revenue of $10.10 million during the quarter, compared to the consensus estimate of $9.59 million. During the same period last year, the business posted ($0.91) EPS. The business’s revenue was up 110.4% compared to the same quarter last year. On average, equities research analysts expect that Kite Pharma, Inc. will post ($8.35) EPS for the current year.
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A number of brokerages recently commented on KITE. Stifel Nicolaus reaffirmed a “hold” rating and set a $74.00 price objective on shares of Kite Pharma in a research note on Thursday. Jefferies Group LLC reaffirmed a “buy” rating and set a $135.00 price objective (up from $121.00) on shares of Kite Pharma in a research note on Wednesday. Canaccord Genuity set a $120.00 price objective on Kite Pharma and gave the stock a “buy” rating in a research note on Wednesday. Vetr cut Kite Pharma from a “buy” rating to a “hold” rating and set a $116.82 price objective for the company. in a research note on Monday. Finally, Maxim Group cut Kite Pharma from a “buy” rating to a “hold” rating and set a $88.00 price objective for the company. in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Kite Pharma currently has an average rating of “Hold” and a consensus price target of $88.93.
In other Kite Pharma news, EVP Helen Susan Kim sold 26,649 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $109.28, for a total transaction of $2,912,202.72. Following the completion of the sale, the executive vice president now directly owns 28,763 shares in the company, valued at approximately $3,143,220.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Cynthia M. Butitta sold 10,000 shares of the stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $88.55, for a total value of $885,500.00. Following the sale, the chief operating officer now owns 127,795 shares of the company’s stock, valued at $11,316,247.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 245,048 shares of company stock valued at $25,803,151. 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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