Shikiar Asset Management Inc. Lowers Stake in Kite Pharma, Inc. (KITE)

Shikiar Asset Management Inc. reduced its position in shares of Kite Pharma, Inc. (NASDAQ:KITE) by 58.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 15,600 shares of the biopharmaceutical company’s stock after selling 22,000 shares during the quarter. Kite Pharma comprises approximately 1.2% of Shikiar Asset Management Inc.’s holdings, making the stock its 28th largest holding. Shikiar Asset Management Inc.’s holdings in Kite Pharma were worth $2,805,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Kite Pharma by 106,272.1% during the 1st quarter. BlackRock Inc. now owns 3,621,971 shares of the biopharmaceutical company’s stock valued at $284,287,000 after acquiring an additional 3,618,566 shares during the last quarter. Bank of Montreal Can lifted its position 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 worth $923,000 after buying an additional 1,293 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in 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 buying an additional 1,100 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Kite Pharma in the first quarter worth $282,000. Finally, Fred Alger Management Inc. lifted its position 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 worth $1,659,000 after buying an additional 9,000 shares during the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

A number of analysts recently issued reports on KITE shares. Vetr downgraded Kite Pharma from a “buy” rating to a “hold” rating and set a $116.82 price target for the company. in a research report on Monday, August 7th. Canaccord Genuity set a $115.00 price target on Kite Pharma and gave the stock a “buy” rating in a research report on Tuesday, June 27th. Jefferies Group LLC raised their price target on Kite Pharma from $101.00 to $121.00 and gave the stock a “buy” rating in a research report on Monday, July 10th. Cowen and Company restated an “outperform” rating on shares of Kite Pharma in a research report on Monday, June 26th. Finally, Maxim Group downgraded Kite Pharma from a “buy” rating to a “hold” rating and set a $88.00 price target for the company. in a research report on Thursday, July 13th. Thirteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $94.68.

WARNING: “Shikiar Asset Management Inc. Lowers Stake in Kite Pharma, Inc. (KITE)” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this news story on another website, it was stolen and republished in violation of US & international copyright & trademark laws. The correct version of this news story can be accessed at https://ledgergazette.com/2017/10/20/shikiar-asset-management-inc-lowers-stake-in-kite-pharma-inc-kite.html.

In other news, insider Shawn Tomasello sold 4,203 shares of the stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $179.66, for a total value of $755,110.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Jeffrey Wiezorek sold 5,283 shares of the stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $179.66, for a total value of $949,143.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 194,785 shares of company stock worth $25,776,870. Company insiders own 14.00% of the company’s stock.

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

Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.97) by $0.03. Kite Pharma had a negative return on equity of 59.56% and a negative net margin of 1,117.44%. The company had revenue of $10.10 million for the quarter, compared to analyst estimates of $9.59 million. During t

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Kite Pharma by 106,272.1% during the 1st quarter. BlackRock Inc. now owns 3,621,971 shares of the biopharmaceutical company’s stock valued at $284,287,000 after acquiring an additional 3,618,566 shares during the last quarter. Bank of Montreal Can lifted its position 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 worth $923,000 after buying an additional 1,293 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in 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 buying an additional 1,100 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Kite Pharma in the first quarter worth $282,000. Finally, Fred Alger Management Inc. lifted its position 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 worth $1,659,000 after buying an additional 9,000 shares during the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

A number of analysts recently issued reports on KITE shares. Vetr downgraded Kite Pharma from a “buy” rating to a “hold” rating and set a $116.82 price target for the company. in a research report on Monday, August 7th. Canaccord Genuity set a $115.00 price target on Kite Pharma and gave the stock a “buy” rating in a research report on Tuesday, June 27th. Jefferies Group LLC raised their price target on Kite Pharma from $101.00 to $121.00 and gave the stock a “buy” rating in a research report on Monday, July 10th. Cowen and Company restated an “outperform” rating on shares of Kite Pharma in a research report on Monday, June 26th. Finally, Maxim Group downgraded Kite Pharma from a “buy” rating to a “hold” rating and set a $88.00 price target for the company. in a research report on Thursday, July 13th. Thirteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $94.68.

WARNING: “Shikiar Asset Management Inc. Lowers Stake in Kite Pharma, Inc. (KITE)” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this news story on another website, it was stolen and republished in violation of US & international copyright & trademark laws. The correct version of this news story can be accessed at https://ledgergazette.com/2017/10/20/shikiar-asset-management-inc-lowers-stake-in-kite-pharma-inc-kite.html.

In other news, insider Shawn Tomasello sold 4,203 shares of the stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $179.66, for a total value of $755,110.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Jeffrey Wiezorek sold 5,283 shares of the stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $179.66, for a total value of $949,143.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 194,785 shares of company stock worth $25,776,870. Company insiders own 14.00% of the company’s stock.

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

Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.97) by $0.03. Kite Pharma had a negative return on equity of 59.56% and a negative net margin of 1,117.44%. The company had revenue of $10.10 million for the quarter, compared to analyst estimates of $9.59 million. During the same quarter last year, the company earned ($0.91) EPS. Kite Pharma’s revenue for the quarter was up 110.4% compared to the same quarter last year. On average, equities analysts forecast that Kite Pharma, Inc. will post ($8.24) earnings per share for the current year.

Kite Pharma Company 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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