Sheaff Brock Investment Advisors LLC Buys New Position in Kite Pharma, Inc. (KITE)

Sheaff Brock Investment Advisors LLC purchased a new position in Kite Pharma, Inc. (NASDAQ:KITE) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,300 shares of the biopharmaceutical company’s stock, valued at approximately $238,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of KITE. Strs Ohio acquired a new position in shares of Kite Pharma in the first quarter worth $447,000. Russell Investments Group Ltd. increased its stake in shares of Kite Pharma by 72.9% in the first quarter. Russell Investments Group Ltd. now owns 30,606 shares of the biopharmaceutical company’s stock worth $2,403,000 after acquiring an additional 12,909 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of 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 acquiring an additional 1,100 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Kite Pharma by 81.1% in the first quarter. Advisors Asset Management Inc. now owns 18,399 shares of the biopharmaceutical company’s stock worth $1,444,000 after acquiring an additional 8,242 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Kite Pharma by 24.2% in the first quarter. Bank of New York Mellon Corp now owns 254,995 shares of the biopharmaceutical company’s stock worth $20,014,000 after acquiring an additional 49,752 shares during the last quarter. 87.86% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Kite Pharma, Inc. (NASDAQ KITE) opened at 178.56 on Wednesday. Kite Pharma, Inc. has a 12-month low of $39.82 and a 12-month high of $179.69. The firm’s 50-day moving average is $137.20 and its 200-day moving average is $97.17. The company’s market capitalization is $10.21 billion.

Kite Pharma (NASDAQ:KITE) last released its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share for the quarter, topping the consensus estimate of ($1.97) by $0.03. The company had revenue of $10.10 million for the quarter, compared to analyst estimates of $9.59 million. Kite Pharma had a negative net margin of 1,117.44% and a negative return on equity of 59.56%. Kite Pharma’s revenue for the quarter was up 110.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.91) EPS. On average, equities research analysts anticipate that Kite Pharma, Inc. will post ($8.23) EPS for the current fiscal year.

A number of research firms have recently weighed in on KITE. Canaccord Genuity set a $115.00 price target on shares of Kite Pharma and gave the stock a “buy” rating in a research note on Monday, July 10th. HC Wainwright reaffirmed a “buy” rating and issued a $85.00 price target on shares of Kite Pharma in a research note on Friday, May 19th. ValuEngine raised shares of Kite Pharma from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $101.00 price target on shares of Kite Pharma in a research note on Monday, June 26th. Finally, SunTrust Banks, Inc. downgraded shares of Kite Pharma from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. Fifteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Kite Pharma currently has an average rating of “Hold” and an average price target of $91.10.

In other news, SVP Jeffrey Wiezorek sold 10,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $104.32, for a total transaction of $1,043,200.00. Following the transaction, the senior vice president now directly owns 31,071 shares in the company, valued at approximately $3,241,326.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Cynthia M. Butitta sold 5,000 shares of the business’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $100.81, for a total transaction of $504,050.00. Following the transaction, the chief operating officer now owns 114,845 shares in the company, valued at $11,577,524.45. The disclosure for this sale can be found here. Insiders have sold a total of 221,299 shares of company stock worth $24,422,333 over the last 90 days. 14.00% of the stock is owned by company 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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Institutional Ownership by Quarter for Kite Pharma (NASDAQ:KITE)

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