Principal Financial Group Inc. cut its stake in shares of Kite Pharma, Inc. (NASDAQ:KITE) by 2.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,183 shares of the biopharmaceutical company’s stock after selling 1,547 shares during the period. Principal Financial Group Inc. owned about 0.09% of Kite Pharma worth $9,383,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of Montreal Can lifted its stake in Kite Pharma by 17.0% in the second quarter. Bank of Montreal Can now owns 8,898 shares of the biopharmaceutical company’s stock valued at $923,000 after acquiring an additional 1,293 shares during the last quarter. Fred Alger Management Inc. lifted its stake in Kite Pharma by 128.6% in the second quarter. Fred Alger Management Inc. now owns 16,000 shares of the biopharmaceutical company’s stock valued at $1,659,000 after acquiring an additional 9,000 shares during the last quarter. Prudential PLC acquired a new stake in Kite Pharma in the second quarter valued at approximately $2,873,000. Vanguard Group Inc. lifted its stake in Kite Pharma by 9.2% in the second quarter. Vanguard Group Inc. now owns 3,998,269 shares of the biopharmaceutical company’s stock valued at $414,501,000 after acquiring an additional 336,722 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in Kite Pharma by 26.3% in the second quarter. Prudential Financial Inc. now owns 5,000 shares of the biopharmaceutical company’s stock valued at $518,000 after acquiring an additional 1,040 shares during the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

In other news, CFO Paul L. Jenkinson sold 948 shares of the business’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $179.66, for a total value of $170,317.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Arie Belldegrun sold 26,347 shares of the business’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 of the company’s stock, valued at $24,345,187.62. The disclosure for this sale can be found here. Insiders sold 48,936 shares of company stock valued at $8,791,842 over the last 90 days. 14.00% of the stock is owned by corporate insiders.

A number of research firms have issued reports on KITE. Wedbush upgraded shares of Kite Pharma from an “underperform” rating to a “neutral” rating in a research note on Tuesday, August 29th. Canaccord Genuity cut shares of Kite Pharma from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. Guggenheim cut shares of Kite Pharma from a “buy” rating to a “neutral” rating and set a $128.00 target price for the company. in a research note on Monday, August 28th. SunTrust Banks cut shares of Kite Pharma from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. Finally, BTIG Research cut shares of Kite Pharma from a “buy” rating to a “neutral” rating in a research note on Monday, August 28th. Thirteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $94.68.

Shares of Kite Pharma, Inc. (NASDAQ:KITE) opened at $179.99 on Tuesday. Kite Pharma, Inc. has a one year low of $39.82 and a one year high of $179.99.

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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.

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

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