Fate Therapeutics, Inc. (NASDAQ:FATE) Shares Sold by Citigroup Inc.

Citigroup Inc. reduced its stake in shares of Fate Therapeutics, Inc. (NASDAQ:FATE – Get Rating) by 14.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,693 shares of the biopharmaceutical company’s stock after selling 33,203 shares during the quarter. Citigroup Inc.’s holdings in Fate Therapeutics were worth $1,975,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FATE. Envestnet Asset Management Inc. raised its stake in Fate Therapeutics by 20.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 8,734 shares of the biopharmaceutical company’s stock worth $339,000 after acquiring an additional 1,457 shares in the last quarter. Raymond James & Associates raised its stake in Fate Therapeutics by 42.6% during the 1st quarter. Raymond James & Associates now owns 29,436 shares of the biopharmaceutical company’s stock worth $1,141,000 after acquiring an additional 8,790 shares in the last quarter. HighTower Advisors LLC grew its position in Fate Therapeutics by 5.9% during the 1st quarter. HighTower Advisors LLC now owns 18,361 shares of the biopharmaceutical company’s stock worth $714,000 after purchasing an additional 1,016 shares during the last quarter. Private Advisor Group LLC grew its position in Fate Therapeutics by 25.7% during the 1st quarter. Private Advisor Group LLC now owns 9,481 shares of the biopharmaceutical company’s stock worth $367,000 after purchasing an additional 1,938 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Fate Therapeutics by 17.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,737 shares of the biopharmaceutical company’s stock worth $260,000 after purchasing an additional 986 shares during the last quarter.

Fate Therapeutics Price Performance

FATE stock opened at $5.04 on Friday. The company’s 50 day simple moving average is $5.63 and its 200-day simple moving average is $9.08. The firm has a market capitalization of $495.84 million, a PE ratio of -2.08 and a beta of 1.49. Fate Therapeutics, Inc. has a 12 month low of $4.02 and a 12 month high of $37.13.

Fate Therapeutics (NASDAQ:FATE – Get Rating) last released its quarterly earnings results on Wednesday, May 3rd. The biopharmaceutical company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.36. The business had revenue of $58.98 million for the quarter, compared to analyst estimates of $33.53 million. Fate Therapeutics had a negative net margin of 171.64% and a negative return on equity of 45.62%. The company’s quarterly revenue was up 220.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.68) earnings per share. As a group, sell-side analysts anticipate that Fate Therapeutics, Inc. will post -1.92 earnings per share for the current year.

Analysts Set New Price Targets

FATE has been the topic of several research reports. Piper Sandler lowered their price objective on shares of Fate Therapeutics from $12.00 to $7.00 in a research report on Wednesday, March 1st. Cantor Fitzgerald lowered their price objective on shares of Fate Therapeutics from $8.00 to $5.00 in a research report on Thursday, May 4th. Wells Fargo & Company reissued an “equal weight” rating and set a $6.00 price objective on shares of Fate Therapeutics in a research report on Monday, March 27th. EF Hutton Acquisition Co. I reissued a “buy” rating and set a $10.00 price objective on shares of Fate Therapeutics in a research report on Wednesday, March 1st. Finally, Stifel Nicolaus lowered their target price on shares of Fate Therapeutics from $5.30 to $5.00 in a report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.24.

Insider Activity

In other Fate Therapeutics news, Director Redmile Group, Llc purchased 20,000 shares of the stock in a transaction dated Thursday, April 20th. The shares were acquired at an average cost of $5.99 per share, for a total transaction of $119,800.00. Following the completion of the transaction, the director now directly owns 12,879,119 shares of the company’s stock, valued at $77,145,922.81. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 5.04% of the company’s stock.

Fate Therapeutics Profile

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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.