Price T Rowe Associates Inc. MD Sells 1,841,850 Shares of Fate Therapeutics, Inc. (NASDAQ:FATE)

Price T Rowe Associates Inc. MD cut its stake in shares of Fate Therapeutics, Inc. (NASDAQ:FATE – Get Rating) by 37.0% during the 3rd quarter, Holdings Channel reports. The fund owned 3,141,653 shares of the biopharmaceutical company’s stock after selling 1,841,850 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Fate Therapeutics were worth $70,405,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. ARK Investment Management LLC raised its holdings in Fate Therapeutics by 1.6% during the third quarter. ARK Investment Management LLC now owns 11,655,833 shares of the biopharmaceutical company’s stock worth $261,207,000 after buying an additional 182,178 shares during the last quarter. BlackRock Inc. raised its holdings in Fate Therapeutics by 6.8% during the third quarter. BlackRock Inc. now owns 7,917,421 shares of the biopharmaceutical company’s stock worth $177,428,000 after buying an additional 501,445 shares during the last quarter. State Street Corp raised its holdings in Fate Therapeutics by 51.8% during the second quarter. State Street Corp now owns 5,270,135 shares of the biopharmaceutical company’s stock worth $130,594,000 after buying an additional 1,797,703 shares during the last quarter. Capital World Investors raised its holdings in Fate Therapeutics by 39.9% during the first quarter. Capital World Investors now owns 4,559,673 shares of the biopharmaceutical company’s stock worth $176,779,000 after buying an additional 1,300,640 shares during the last quarter. Finally, Bellevue Group AG raised its holdings in Fate Therapeutics by 5.5% during the third quarter. Bellevue Group AG now owns 3,746,086 shares of the biopharmaceutical company’s stock worth $83,950,000 after buying an additional 196,000 shares during the last quarter.

Insider Activity

In other news, insider Bahram Valamehr sold 10,917 shares of the firm’s stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $5.24, for a total value of $57,205.08. Following the completion of the transaction, the insider now directly owns 168,917 shares in the company, valued at $885,125.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director John Mendlein acquired 36,631 shares of the business’s stock in a transaction dated Friday, January 13th. The stock was bought at an average cost of $5.43 per share, for a total transaction of $198,906.33. Following the completion of the transaction, the director now owns 282,770 shares of the company’s stock, valued at $1,535,441.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bahram Valamehr sold 10,917 shares of the firm’s stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $5.24, for a total transaction of $57,205.08. Following the completion of the transaction, the insider now owns 168,917 shares of the company’s stock, valued at $885,125.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,708 shares of company stock worth $396,710. 17.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

FATE has been the topic of several research reports. Bank of America downgraded shares of Fate Therapeutics from a “buy” rating to an “underperform” rating in a report on Friday, January 6th. Guggenheim downgraded shares of Fate Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday, January 3rd. Wedbush downgraded shares of Fate Therapeutics from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $42.00 to $7.00 in a report on Friday, January 6th. Morgan Stanley lowered their target price on shares of Fate Therapeutics from $35.00 to $8.00 and set an “equal weight” rating for the company in a report on Friday, January 6th. Finally, EF Hutton Acquisition Co. I reiterated a “buy” rating and issued a $10.00 target price on shares of Fate Therapeutics in a report on Wednesday, March 1st. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $24.69.

Fate Therapeutics Stock Up 10.5 %

Shares of NASDAQ:FATE opened at $5.39 on Tuesday. The firm has a market capitalization of $529.08 million, a PE ratio of -1.79 and a beta of 1.53. Fate Therapeutics, Inc. has a twelve month low of $4.02 and a twelve month high of $43.12. The company has a 50-day moving average price of $6.29 and a two-hundred day moving average price of $15.61.

Fate Therapeutics (NASDAQ:FATE – Get Rating) last issued its earnings results on Tuesday, February 28th. The biopharmaceutical company reported ($0.58) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.28. Fate Therapeutics had a negative net margin of 292.55% and a negative return on equity of 50.86%. The firm had revenue of $44.36 million during the quarter, compared to analyst estimates of $18.41 million. During the same quarter last year, the business earned ($0.72) earnings per share. The company’s quarterly revenue was up 159.9% on a year-over-year basis. Analysts anticipate that Fate Therapeutics, Inc. will post -2.14 earnings per share for the current fiscal year.

About Fate Therapeutics

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Fate Therapeutics, Inc engages in the development of programmed cellular immunotherapies for cancer and immune disorder. Its pipeline of products includes immuno-ocology candidates and immuno-regulation candidates. The company was founded by Philip Beachy, Sheng Ding, Rudolf Jaenisch, Randall T. Moon, Michael Rudnicki, David Scadden, Leonard Zon, Alexander Rives, Scott Wolchko, and John D.