LLBH Private Wealth Management LLC decreased its position in shares of Kite Pharma, Inc. (NASDAQ:KITE) by 4.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 225,140 shares of the biopharmaceutical company’s stock after selling 10,000 shares during the period. Kite Pharma comprises about 7.2% of LLBH Private Wealth Management LLC’s holdings, making the stock its 4th largest position. LLBH Private Wealth Management LLC’s holdings in Kite Pharma were worth $21,350,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Kite Pharma by 106,272.1% in the first quarter. BlackRock Inc. now owns 3,621,971 shares of the biopharmaceutical company’s stock worth $284,287,000 after buying an additional 3,618,566 shares during the last quarter. TD Asset Management Inc. increased its position in Kite Pharma by 148.7% in the first quarter. TD Asset Management Inc. now owns 61,550 shares of the biopharmaceutical company’s stock worth $4,831,000 after buying an additional 36,800 shares during the last quarter. Great West Life Assurance Co. Can increased its position in Kite Pharma by 28.1% in the first quarter. Great West Life Assurance Co. Can now owns 5,013 shares of the biopharmaceutical company’s stock worth $392,000 after buying an additional 1,100 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Kite Pharma during the first quarter worth about $282,000. Finally, Strs Ohio bought a new position in Kite Pharma during the first quarter worth about $447,000. Institutional investors own 83.94% of the company’s stock.

Shares of Kite Pharma, Inc. (NASDAQ:KITE) opened at 122.86 on Tuesday. The stock’s market cap is $7.03 billion. Kite Pharma, Inc. has a one year low of $39.82 and a one year high of $123.67. The stock has a 50 day moving average of $108.46 and a 200 day moving average of $82.86.

Kite Pharma (NASDAQ:KITE) last announced its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.97) by $0.03. Kite Pharma had a negative net margin of 1,117.44% and a negative return on equity of 59.56%. The firm had revenue of $10.10 million for the quarter, compared to analysts’ expectations of $9.59 million. During the same quarter in the previous year, the business posted ($0.91) EPS. The company’s quarterly revenue was up 110.4% on a year-over-year basis. On average, analysts forecast that Kite Pharma, Inc. will post ($8.18) EPS for the current year.

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A number of research analysts recently issued reports on KITE shares. FBR & Co reiterated an “outperform” rating and set a $91.00 target price (up previously from $90.00) on shares of Kite Pharma in a research report on Tuesday, May 9th. Canaccord Genuity set a $115.00 target price on shares of Kite Pharma and gave the company a “buy” rating in a research report on Tuesday, June 27th. Roth Capital reiterated 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 boosted their target price on shares of Kite Pharma from $101.00 to $121.00 and gave the company a “buy” rating in a research report on Monday, July 10th. Finally, Cowen and Company reiterated an “outperform” rating on shares of Kite Pharma in a research report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Kite Pharma has a consensus rating of “Hold” and an average target price of $88.93.

In other news, EVP Helen Susan Kim sold 6,251 shares of Kite Pharma stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $120.09, for a total value of $750,682.59. Following the completion of the transaction, the executive vice president now owns 22,259 shares of the company’s stock, valued at approximately $2,673,083.31. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Roy Doumani sold 15,000 shares of Kite Pharma stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $84.48, for a total value of $1,267,200.00. Following the completion of the transaction, the director now directly owns 155,017 shares of the company’s stock, valued at approximately $13,095,836.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 266,299 shares of company stock worth $28,364,633. 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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Institutional Ownership by Quarter for Kite Pharma (NASDAQ:KITE)

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