Bank of New York Mellon Corp Has $41.68 Million Stake in Kite Pharma, Inc. (KITE)

Bank of New York Mellon Corp trimmed its holdings in shares of Kite Pharma, Inc. (NASDAQ:KITE) by 8.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 231,794 shares of the biopharmaceutical company’s stock after selling 22,530 shares during the period. Bank of New York Mellon Corp owned approximately 0.41% of Kite Pharma worth $41,679,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in KITE. Comerica Bank bought a new position in shares of Kite Pharma during the 2nd quarter worth about $201,000. Biondo Investment Advisors LLC acquired a new stake in shares of Kite Pharma during the 2nd quarter worth about $218,000. Sheaff Brock Investment Advisors LLC acquired a new stake in shares of Kite Pharma during the 2nd quarter worth about $238,000. Pillar Pacific Capital Management LLC acquired a new stake in shares of Kite Pharma during the 3rd quarter worth about $310,000. Finally, World Asset Management Inc acquired a new stake in shares of Kite Pharma during the 3rd quarter worth about $334,000. 87.72% of the stock is owned by institutional investors.

Shares of Kite Pharma, Inc. (KITE) opened at $179.99 on Thursday. Kite Pharma, Inc. has a 1 year low of $39.82 and a 1 year high of $179.99.

A number of equities research analysts recently issued reports on KITE shares. Canaccord Genuity cut shares of Kite Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, August 29th. Stifel Nicolaus reiterated a “hold” rating and set a $74.00 target price on shares of Kite Pharma in a research report on Thursday, August 10th. Guggenheim cut shares of Kite Pharma from a “buy” rating to a “neutral” rating and set a $128.00 target price for the company. in a research report on Monday, August 28th. Jefferies Group reiterated a “buy” rating and set a $135.00 target price (up previously from $121.00) on shares of Kite Pharma in a research report on Wednesday, August 9th. Finally, BTIG Research cut shares of Kite Pharma from a “buy” rating to a “neutral” rating in a research report on Monday, August 28th. Thirteen 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. The company currently has an average rating of “Hold” and an average target price of $94.68.

In other Kite Pharma news, Chairman Arie Belldegrun sold 26,347 shares of the firm’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $179.66, for a total value of $4,733,502.02. Following the completion of the sale, the chairman now owns 135,507 shares in the company, valued at approximately $24,345,187.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Paul L. Jenkinson sold 948 shares of the firm’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $179.66, for a total transaction of $170,317.68. The disclosure for this sale can be found here. Insiders sold a total of 48,936 shares of company stock valued at $8,791,842 in the last 90 days. Corporate insiders own 14.00% of the company’s stock.

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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.

Institutional Ownership by Quarter for Kite Pharma (NASDAQ:KITE)

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