Chicago Equity Partners LLC bought a new stake in Kite Pharma Inc (NASDAQ:KITE) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 7,570 shares of the biopharmaceutical company’s stock, valued at approximately $1,361,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System lifted its stake in shares of Kite Pharma by 12.4% in the third quarter. State Board of Administration of Florida Retirement System now owns 27,107 shares of the biopharmaceutical company’s stock valued at $4,874,000 after buying an additional 2,980 shares during the period. Dupont Capital Management Corp raised its position in Kite Pharma by 95.0% in the third quarter. Dupont Capital Management Corp now owns 14,600 shares of the biopharmaceutical company’s stock worth $2,625,000 after purchasing an additional 7,113 shares in the last quarter. Pillar Pacific Capital Management LLC acquired a new position in Kite Pharma in the third quarter worth about $310,000. ARP Americas LLC acquired a new position in Kite Pharma in the third quarter worth about $16,657,000. Finally, Canada Pension Plan Investment Board acquired a new position in Kite Pharma in the third quarter worth about $11,688,000. Institutional investors and hedge funds own 87.72% of the company’s stock.
In related news, Chairman Arie Belldegrun sold 26,347 shares of Kite Pharma stock in a transaction dated Monday, September 25th. The shares were 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 approximately $24,345,187.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Cynthia M. Butitta sold 4,228 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 $759,602.48. Following the sale, the chief operating officer now directly owns 125,795 shares of the company’s stock, valued at approximately $22,600,329.70. The disclosure for this sale can be found here. Insiders have sold a total of 48,936 shares of company stock valued at $8,791,842 in the last ninety days. 14.00% of the stock is currently owned by insiders.
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Several research firms recently issued reports on KITE. SunTrust Banks, Inc. lowered shares of Kite Pharma from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. Wedbush raised shares of Kite Pharma from an “underperform” rating to a “neutral” rating in a report on Tuesday, August 29th. BTIG Research lowered shares of Kite Pharma from a “buy” rating to a “neutral” rating in a report on Monday, August 28th. Jefferies Group LLC reaffirmed a “buy” rating and set a $135.00 price objective (up previously from $121.00) on shares of Kite Pharma in a report on Wednesday, August 9th. Finally, Canaccord Genuity set a $120.00 price objective on shares of Kite Pharma and gave the stock a “buy” rating in a report on Wednesday, August 9th. Thirteen investment 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 company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $94.68.
Shares of Kite Pharma Inc (KITE) opened at $179.99 on Wednesday. Kite Pharma Inc has a twelve month low of $39.82 and a twelve month high of $179.99.
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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