Rtw Investments Lowers stake in Kite Pharma Inc (KITE)

Kite Pharma Inc (KITE) : Rtw Investments reduced its stake in Kite Pharma Inc by 16.45% during the most recent quarter end. The investment management company now holds a total of 343,503 shares of Kite Pharma Inc which is valued at $14.6 Million after selling 67,640 shares in Kite Pharma Inc , the firm said in a disclosure report filed with the SEC on May 11, 2016.Kite Pharma Inc makes up approximately 5.88% of Rtw Investments’s portfolio.

Other Hedge Funds, Including , Gsa Capital Partners Llp sold out all of its stake in KITE during the most recent quarter. The investment firm sold 10,900 shares of KITE which is valued $464,776.Manufacturers Life Insurance Company The boosted its stake in KITE in the latest quarter, The investment management firm added 1,185 additional shares and now holds a total of 20,419 shares of Kite Pharma Inc which is valued at $870,666.Blackrock Group Ltd boosted its stake in KITE in the latest quarter, The investment management firm added 10,303 additional shares and now holds a total of 29,816 shares of Kite Pharma Inc which is valued at $1.3 Million.California Public Employees Retirement System boosted its stake in KITE in the latest quarter, The investment management firm added 19,000 additional shares and now holds a total of 51,300 shares of Kite Pharma Inc which is valued at $2.3 Million. Glenmede Trust Co Na sold out all of its stake in KITE during the most recent quarter. The investment firm sold 55 shares of KITE which is valued $2,545.

Kite Pharma Inc opened for trading at $43.08 and hit $45.25 on the upside on Monday, eventually ending the session at $45.04, with a gain of 5.63% or 2.4 points. The heightened volatility saw the trading volume jump to 7,49,204 shares. Company has a market cap of $2,213 M.

On the company’s financial health, Kite Pharma Inc reported $-0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on May 9, 2016. Analyst had a consensus of $-0.73. The company had revenue of $5.10 million for the quarter, compared to analysts expectations of $4.61 million. The company’s revenue was up 77.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.36 EPS.

Many Wall Street Analysts have commented on Kite Pharma Inc. Shares were Reiterated by Mizuho on May 10, 2016 to “Buy” and Lowered the Price Target to $ 80 from a previous price target of $90 .Citigroup Initiated Kite Pharma Inc on Feb 25, 2016 to “Buy”, Price Target of the shares are set at $67.

Kite Pharma Inc. is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of cancer immunotherapy products to eradicate cancer cells. The Company does this using its engineered autologous cell therapy (eACT) which is an approach to the treatment of cancer. eACT involves the genetic engineering of T cells to express either chimeric antigen receptors (CARs) or T cell receptors (TCRs). It is conducting a Phase II clinical trial of a TCR-based therapy and multiple Phase I-IIa clinical trials of CAR- and TCR-based therapies. The Company’s lead product candidate KTE-C19 is a CAR-based therapy for the treatment of refractory diffuse large B cell lymphoma (DLBCL) primary mediastinal B cell lymphoma (PMBCL) and transformed follicular lymphoma (TFL). It is developing a pipeline of eACT-based product candidates for the treatment of advanced solid and hematological malignancies: CD19CAR KTE-C19CAR and EGFRvlll CAR among others.

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