Profund Advisors LLC grew its position in shares of Fate Therapeutics, Inc. (NASDAQ:FATE – Free Report) by 2,178.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 254,989 shares of the biopharmaceutical company’s stock after purchasing an additional 243,798 shares during the quarter. Profund Advisors LLC owned approximately 0.26% of Fate Therapeutics worth $1,453,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in FATE. Natixis acquired a new stake in Fate Therapeutics during the 4th quarter worth approximately $29,000. CI Investments Inc. lifted its holdings in shares of Fate Therapeutics by 413.7% during the fourth quarter. CI Investments Inc. now owns 3,082 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 2,482 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Fate Therapeutics by 1,735.0% during the first quarter. Nisa Investment Advisors LLC now owns 5,505 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 5,205 shares during the period. ETF Managers Group LLC bought a new stake in shares of Fate Therapeutics in the first quarter worth $36,000. Finally, Coppell Advisory Solutions Corp. acquired a new stake in Fate Therapeutics in the fourth quarter valued at $42,000.
Analyst Ratings Changes
Several research analysts have commented on the company. Barclays cut their target price on Fate Therapeutics from $12.00 to $6.00 and set an “overweight” rating on the stock in a report on Thursday, August 10th. Stifel Nicolaus lowered their price target on shares of Fate Therapeutics from $5.30 to $5.00 in a report on Thursday, May 4th. Morgan Stanley reduced their price objective on shares of Fate Therapeutics from $8.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 10th. Cantor Fitzgerald lowered their target price on shares of Fate Therapeutics from $8.00 to $5.00 in a research note on Thursday, May 4th. Finally, StockNews.com started coverage on shares of Fate Therapeutics in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Fate Therapeutics has a consensus rating of “Hold” and a consensus price target of $12.96.
Insider Transactions at Fate Therapeutics
In related news, CFO Edward J. Dulac III sold 5,182 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $4.83, for a total value of $25,029.06. Following the transaction, the chief financial officer now owns 124,288 shares of the company’s stock, valued at approximately $600,311.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 17,846 shares of company stock valued at $78,660 over the last three months. Corporate insiders own 5.04% of the company’s stock.
Fate Therapeutics Stock Down 2.6 %
NASDAQ FATE opened at $2.64 on Thursday. Fate Therapeutics, Inc. has a 52 week low of $2.49 and a 52 week high of $29.42. The business has a 50 day moving average price of $4.04 and a 200-day moving average price of $5.08. The company has a market cap of $260.20 million, a price-to-earnings ratio of -1.22 and a beta of 1.47.
Fate Therapeutics (NASDAQ:FATE – Get Free Report) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.54) EPS for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.04. Fate Therapeutics had a negative net margin of 177.41% and a negative return on equity of 44.14%. The business had revenue of $0.93 million during the quarter, compared to analyst estimates of $5.41 million. During the same quarter in the previous year, the business posted ($0.79) EPS. Fate Therapeutics’s quarterly revenue was down 95.0% on a year-over-year basis. On average, equities research analysts anticipate that Fate Therapeutics, Inc. will post -1.91 earnings per share for the current year.
Fate Therapeutics Profile
Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its chimeric antigen receptor (CAR)-targeted NK and T-cell product candidates include FT576 to treat multiple myeloma and FT522, to treat lymphoma and autoimmune disorders; and CAR T-cell programs include FT819 to treat hematologic malignancies and solid tumors, and FT825 to treat solid tumors.
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