Gabelli Funds LLC bought a new position in Kite Pharma Inc (NASDAQ:KITE) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 622,232 shares of the biopharmaceutical company’s stock, valued at approximately $111,884,000. Kite Pharma makes up 0.6% of Gabelli Funds LLC’s holdings, making the stock its 22nd largest position. Gabelli Funds LLC owned 1.09% of Kite Pharma at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of KITE. Winslow Evans & Crocker Inc. purchased a new stake in shares of Kite Pharma in the second quarter worth about $124,000. Comerica Bank purchased a new stake in shares of Kite Pharma in the second quarter worth about $201,000. Biondo Investment Advisors LLC purchased a new stake in shares of Kite Pharma in the second quarter worth about $218,000. Capital Investment Advisory Services LLC purchased a new stake in shares of Kite Pharma in the second quarter worth about $238,000. Finally, Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Kite Pharma in the second quarter worth about $238,000. Institutional investors own 87.72% of the company’s stock.
A number of equities research analysts recently commented on KITE shares. Jefferies Group LLC reiterated a “buy” rating and issued a $135.00 target price (up from $121.00) on shares of Kite Pharma in a research report on Wednesday, August 9th. Canaccord Genuity set a $120.00 price objective on Kite Pharma and gave the company a “buy” rating in a research report on Wednesday, August 9th. Stifel Nicolaus restated a “hold” rating and set a $74.00 price objective on shares of Kite Pharma in a research report on Thursday, August 10th. Maxim Group downgraded Kite Pharma from a “buy” rating to a “hold” rating and set a $88.00 price objective on the stock. in a research report on Thursday, July 13th. Finally, Vetr downgraded Kite Pharma from a “buy” rating to a “hold” rating and set a $116.82 price objective on the stock. in a research report on Monday, August 7th. Thirteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $94.68.
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Shares of Kite Pharma Inc (NASDAQ:KITE) remained flat at $$179.79 during midday trading on Monday. Kite Pharma Inc has a fifty-two week low of $39.82 and a fifty-two week high of $179.95.
Kite Pharma (NASDAQ:KITE) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.97) by $0.03. Kite Pharma had a negative return on equity of 59.15% and a negative net margin of 1,092.54%. The company had revenue of $10.10 million for the quarter, compared to analysts’ expectations of $9.59 million. During the same quarter in the prior year, the firm earned ($0.91) earnings per share. Kite Pharma’s revenue was up 110.4% compared to the same quarter last year.
In related news, CFO Paul L. Jenkinson sold 948 shares of the 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 $170,317.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Helen Susan Kim sold 79,949 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $119.56, for a total value of $9,558,702.44. Following the completion of the transaction, the executive vice president now directly owns 98,613 shares in the company, valued at approximately $11,790,170.28. The disclosure for this sale can be found here. In the last three months, insiders sold 150,136 shares of company stock worth $20,912,027. 14.00% of the stock is owned by insiders.
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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