Menora Mivtachim Holdings Ltd. buys $52,694,795 stake in Kite Pharma Inc (KITE)

Kite Pharma Inc (KITE) : Menora Mivtachim Holdings Ltd. scooped up 324,000 additional shares in Kite Pharma Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 1,008,899 shares of Kite Pharma Inc which is valued at $52,694,795.Kite Pharma Inc makes up approximately 2.81% of Menora Mivtachim Holdings Ltd.’s portfolio.

Other Hedge Funds, Including , Partner Fund Management boosted its stake in KITE in the latest quarter, The investment management firm added 189,321 additional shares and now holds a total of 501,086 shares of Kite Pharma Inc which is valued at $26,171,722. Kite Pharma Inc makes up approx 0.89% of Partner Fund Management’s portfolio.Sg Americas Securities reduced its stake in KITE by selling 56,957 shares or 67.21% in the most recent quarter. The Hedge Fund company now holds 27,789 shares of KITE which is valued at $1,269,679. Kite Pharma Inc makes up approx 0.02% of Sg Americas Securities’s portfolio.Dekabank Deutsche Girozentrale reduced its stake in KITE by selling 53,000 shares or 37.08% in the most recent quarter. The Hedge Fund company now holds 89,950 shares of KITE which is valued at $4,109,816. Kite Pharma Inc makes up approx 0.05% of Dekabank Deutsche Girozentrale’s portfolio.Cg Asset Management boosted its stake in KITE in the latest quarter, The investment management firm added 8,200 additional shares and now holds a total of 15,095 shares of Kite Pharma Inc which is valued at $636,405. Kite Pharma Inc makes up approx 0.25% of Cg Asset Management’s portfolio.Spot Trading L.l.c reduced its stake in KITE by selling 1,900 shares or 89.08% in the most recent quarter. The Hedge Fund company now holds 233 shares of KITE which is valued at $10,362.

Kite Pharma Inc opened for trading at $50.6 and hit $52.14 on the upside on Monday, eventually ending the session at $51.8, with a gain of 2.45% or 1.24 points. The heightened volatility saw the trading volume jump to 8,04,164 shares. Company has a market cap of $2,584 M.

On the company’s financial health, Kite Pharma Inc reported $-1.10 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Nov 9, 2016. Analyst had a consensus of $-1.08. The company had revenue of $7.30 million for the quarter, compared to analysts expectations of $4.90 million. The company’s revenue was up 43.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.38 EPS.

Many Wall Street Analysts have commented on Kite Pharma Inc. H.C. Wainwright Initiated Kite Pharma Inc on Nov 21, 2016 to “Buy”, Price Target of the shares are set at $78.

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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