Wildcat Capital Management LLC Increases Position in Kite Pharma, Inc. (KITE)
Wildcat Capital Management LLC lifted its stake in shares of Kite Pharma, Inc. (NASDAQ:KITE) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,410,034 shares of the biopharmaceutical company’s stock after purchasing an additional 51,950 shares during the quarter. Kite Pharma accounts for about 66.4% of Wildcat Capital Management LLC’s portfolio, making the stock its largest position. Wildcat Capital Management LLC owned about 4.21% of Kite Pharma worth $249,848,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the stock. Cornerstone Capital Management Holdings LLC. boosted its position in Kite Pharma by 7.4% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 19,103 shares of the biopharmaceutical company’s stock worth $1,979,000 after buying an additional 1,310 shares during the period. Prudential PLC acquired a new stake in Kite Pharma during the 2nd quarter worth approximately $2,873,000. Fred Alger Management Inc. boosted its position in Kite Pharma by 128.6% during the 2nd quarter. Fred Alger Management Inc. now owns 16,000 shares of the biopharmaceutical company’s stock worth $1,659,000 after buying an additional 9,000 shares during the period. Capital Research Global Investors boosted its position in Kite Pharma by 1.9% during the 2nd quarter. Capital Research Global Investors now owns 6,936,691 shares of the biopharmaceutical company’s stock worth $719,127,000 after buying an additional 132,400 shares during the period. Finally, Capital World Investors boosted its position in Kite Pharma by 6.3% during the 2nd quarter. Capital World Investors now owns 2,570,400 shares of the biopharmaceutical company’s stock worth $266,473,000 after buying an additional 153,400 shares during the period. 87.72% of the stock is currently owned by institutional investors.
KITE has been the topic of several recent research reports. Vetr downgraded shares of Kite Pharma from a “buy” rating to a “hold” rating and set a $116.82 target price on the stock. in a research report on Monday, August 7th. Cowen and Company reiterated a “buy” rating on shares of Kite Pharma in a research report on Wednesday, June 7th. Canaccord Genuity set a $115.00 target price on shares of Kite Pharma and gave the stock a “buy” rating in a research report on Tuesday, June 27th. Wedbush reiterated an “underperform” rating and set a $54.00 target price on shares of Kite Pharma in a research report on Friday, June 16th. Finally, Jefferies Group LLC lifted their target price on shares of Kite Pharma from $101.00 to $121.00 and gave the stock a “buy” rating in a research report on Monday, July 10th. Thirteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $94.68.
In other news, SVP Jeffrey Wiezorek sold 5,283 shares of Kite Pharma stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $179.66, for a total transaction of $949,143.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Helen Susan Kim sold 79,949 shares of Kite Pharma stock in a transaction dated 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 transaction, the executive vice president now directly owns 98,613 shares in the company, valued at $11,790,170.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 209,785 shares of company stock worth $27,323,220. Insiders own 14.00% of the company’s stock.
Shares of Kite Pharma, Inc. (KITE) remained flat at $179.79 on Thursday. The company had a trading volume of 100 shares. The company’s 50-day moving average is $168.65 and its 200 day moving average is $109.64. Kite Pharma, Inc. has a 12 month low of $39.82 and a 12 month high of $179.95. The stock’s market capitalization is $10.28 billion.
Kite Pharma (NASDAQ:KITE) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.97) by $0.03. The business had revenue of $10.10 million during the quarter, compared to the consensus estimate of $9.59 million. Kite Pharma had a negative return on equity of 59.56% and a negative net margin of 1,117.44%. The business’s quarterly revenue was up 110.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.91) EPS. Equities research analysts forecast that Kite Pharma, Inc. will post ($8.24) earnings per share for the current year.
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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