Fortaleza Asset Management Inc. Has $222,000 Holdings in Kite Pharma Inc (KITE)

Fortaleza Asset Management Inc. lessened its stake in Kite Pharma Inc (NASDAQ:KITE) by 40.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,235 shares of the biopharmaceutical company’s stock after selling 835 shares during the period. Fortaleza Asset Management Inc.’s holdings in Kite Pharma were worth $222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its stake 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 valued at $284,287,000 after purchasing an additional 3,618,566 shares during the last quarter. Bank of Montreal Can grew 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 purchasing an additional 1,293 shares during the last quarter. Fred Alger Management Inc. grew 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 purchasing an additional 9,000 shares during the last quarter. Prudential PLC purchased a new position in Kite Pharma in the second quarter valued at about $2,873,000. Finally, Vanguard Group Inc. grew 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 purchasing an additional 336,722 shares during the last quarter. Institutional investors own 87.72% of the company’s stock.

Shares of Kite Pharma Inc (NASDAQ KITE) remained flat at $179.79 during midday trading on Tuesday. The stock had a trading volume of 100 shares. The firm’s market capitalization is $10.28 billion. The company has a 50-day moving average of $179.28 and a 200-day moving average of $117.40. Kite Pharma Inc has a 12-month low of $39.82 and a 12-month high of $179.95.

Kite Pharma (NASDAQ:KITE) last released its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, beating analysts’ consensus estimates of ($1.97) by $0.03. The business had revenue of $10.10 million for the quarter, compared to the consensus estimate of $9.59 million. Kite Pharma had a negative return on equity of 59.15% and a negative net margin of 1,092.54%. The business’s revenue for the quarter was up 110.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.91) EPS. On average, equities analysts predict that Kite Pharma Inc will post ($8.24) earnings per share for the current fiscal year.

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In related news, Chairman Arie Belldegrun sold 26,347 shares of the firm’s stock in a transaction that occurred 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 transaction, the chairman now owns 135,507 shares in the company, valued at approximately $24,345,187.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Cynthia M. Butitta sold 4,228 shares of the firm’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $179.66, for a total value of $759,602.48. Following the transaction, the chief operating officer now owns 125,795 shares in the company, valued at approximately $22,600,329.70. The disclosure for this sale can be found here. Insiders have sold a total of 156,136 shares of company stock worth $21,572,387 in the last 90 days. 14.00% of the stock is currently owned by company insiders.

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

Kite Pharma 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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