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Is Kite Pharma Inc (KITE) a Good Buy?

How do you pick the next stock to invest in? One way would be to spend hours of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of capital and have to conduct due diligence while choosing their next pick. They don’t always get it right, but, on average, their stock picks historically generated strong returns after adjusting for known risk factors. With this in mind, let’s take a look at the recent hedge fund activity surrounding Kite Pharma Inc (NASDAQ:KITE).

Hedge fund interest in Kite Pharma Inc (NASDAQ:KITE) shares was flat at the end of last quarter. This is usually a negative indicator. At the end of this article we will also compare KITE to other stocks including Puma Biotechnology Inc (NYSE:PBYI), United Natural Foods, Inc. (NASDAQ:UNFI), and Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) to get a better sense of its popularity.

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Keeping this in mind, let’s take a gander at the new action encompassing Kite Pharma Inc (NASDAQ:KITE).

What does the smart money think about Kite Pharma Inc (NASDAQ:KITE)?

Heading into Q4, a total of 22 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 0% from the second quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were upping their stakes considerably (or already accumulated large positions).

According to Insider Monkey’s hedge fund database, Viking Global, managed by Andreas Halvorsen, holds the number one position in Kite Pharma Inc (NASDAQ:KITE). Viking Global has a $137.7 million position in the stock, comprising 0.5% of its 13F portfolio. The second largest stake is held by Wildcat Capital Management, managed by Leonard A. Potter, which holds a $131.3 million position; the fund has 49% of its 13F portfolio invested in the stock. Some other hedge funds and institutional investors that are bullish encompass Christopher James’s Partner Fund Management, Oleg Nodelman’s EcoR1 Capital and Guy Shahar’s DSAM Partners.