Kite Pharma, Inc. (KITE) Position Held by Franklin Resources Inc.

Franklin Resources Inc. held its position in Kite Pharma, Inc. (NASDAQ:KITE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 244,444 shares of the biopharmaceutical company’s stock at the close of the second quarter. Franklin Resources Inc. owned about 0.43% of Kite Pharma worth $25,342,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Sheaff Brock Investment Advisors LLC acquired a new position in Kite Pharma in the second quarter valued at about $238,000. Principal Financial Group Inc. grew its stake in Kite Pharma by 637.7% in the second quarter. Principal Financial Group Inc. now owns 53,730 shares of the biopharmaceutical company’s stock valued at $5,570,000 after acquiring an additional 46,447 shares during the period. Pacer Advisors Inc. grew its stake in Kite Pharma by 22.7% in the second quarter. Pacer Advisors Inc. now owns 5,851 shares of the biopharmaceutical company’s stock valued at $607,000 after acquiring an additional 1,083 shares during the period. Prudential Financial Inc. grew its stake in Kite Pharma by 26.3% in the second quarter. Prudential Financial Inc. now owns 5,000 shares of the biopharmaceutical company’s stock valued at $518,000 after acquiring an additional 1,040 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its stake in Kite Pharma by 9.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 24,127 shares of the biopharmaceutical company’s stock valued at $2,501,000 after acquiring an additional 2,164 shares during the period. 87.72% of the stock is owned by hedge funds and other institutional investors.

KITE has been the subject of a number of research analyst reports. Roth Capital reissued a “buy” rating and issued a $93.00 target price on shares of Kite Pharma in a research note on Tuesday, July 4th. Canaccord Genuity set a $115.00 target price on Kite Pharma and gave the company a “buy” rating in a research note on Tuesday, June 27th. Jefferies Group LLC reissued a “buy” rating and issued a $101.00 target price on shares of Kite Pharma in a research note on Monday, June 26th. FBR & Co reissued a “buy” rating on shares of Kite Pharma in a research note on Tuesday, May 30th. Finally, BTIG Research raised Kite Pharma from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Thursday, June 8th. Fifteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $91.10.

Shares of Kite Pharma, Inc. (NASDAQ KITE) opened at 179.50 on Wednesday. The company’s market cap is $10.26 billion. The company’s 50-day moving average price is $148.92 and its 200 day moving average price is $102.00. Kite Pharma, Inc. has a 12-month low of $39.82 and a 12-month high of $179.69.

Kite Pharma (NASDAQ:KITE) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.97) by $0.03. Kite Pharma had a negative net margin of 1,117.44% and a negative return on equity of 59.56%. The business had revenue of $10.10 million for the quarter, compared to analysts’ expectations of $9.59 million. During the same quarter last year, the firm earned ($0.91) EPS. The firm’s revenue for the quarter was up 110.4% compared to the same quarter last year. Equities analysts predict that Kite Pharma, Inc. will post ($8.23) earnings per share for the current year.

In related news, COO Cynthia M. Butitta sold 15,000 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $103.09, for a total value of $1,546,350.00. Following the transaction, the chief operating officer now owns 132,795 shares of the company’s stock, valued at approximately $13,689,836.55. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Cynthia M. Butitta sold 5,000 shares of the firm’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $100.81, for a total transaction of $504,050.00. Following the completion of the transaction, the chief operating officer now directly owns 114,845 shares in the company, valued at approximately $11,577,524.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 200,849 shares of company stock worth $22,586,128. 14.00% of the stock is owned by insiders.

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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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