Artal Group S.a. Lowers stake in Kite Pharma Inc (KITE)

Kite Pharma Inc (KITE) : Artal Group S.a. reduced its stake in Kite Pharma Inc by 32.99% during the most recent quarter end. The investment management company now holds a total of 325,000 shares of Kite Pharma Inc which is valued at $19,552,000 after selling 160,000 shares in Kite Pharma Inc , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Kite Pharma Inc makes up approximately 0.41% of Artal Group S.a.’s portfolio.

Other Hedge Funds, Including , Picton Mahoney Asset Management added KITE to its portfolio by purchasing 2,700 company shares during the most recent quarter which is valued at $162,432. Kite Pharma Inc makes up approx 0.01% of Picton Mahoney Asset Management’s portfolio. Global X Management Co added KITE to its portfolio by purchasing 90 company shares during the most recent quarter which is valued at $5,283.Candriam Luxembourg S.c.a. boosted its stake in KITE in the latest quarter, The investment management firm added 41,050 additional shares and now holds a total of 179,550 shares of Kite Pharma Inc which is valued at $9,736,997. Kite Pharma Inc makes up approx 0.25% of Candriam Luxembourg S.c.a.’s portfolio.

Kite Pharma Inc closed down -0.9 points or -1.47% at $60.33 with 3,89,458 shares getting traded on Tuesday. Post opening the session at $61.65, the shares hit an intraday low of $60.26 and an intraday high of $61.86 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Kite Pharma Inc reported $-0.91 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Aug 8, 2016. Analyst had a consensus of $-0.84. The company had revenue of $4.80 million for the quarter, compared to analysts expectations of $4.78 million. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.26 EPS.

Many Wall Street Analysts have commented on Kite Pharma Inc. Shares were Reiterated by Maxim Group on Aug 9, 2016 to “Buy” and Lowered the Price Target to $ 77 from a previous price target of $87 .Company shares were Reiterated by Stifel on Jul 13, 2016 to “Buy”, Firm has raised the Price Target to $ 74 from a previous price target of $63 .Raymond James Initiated Kite Pharma Inc on Jun 2, 2016 to “Outperform”, Price Target of the shares are set at $61.

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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