Mutual of America Capital Management LLC Cuts Stock Holdings in Fate Therapeutics, Inc. (NASDAQ:FATE)

Mutual of America Capital Management LLC decreased its holdings in shares of Fate Therapeutics, Inc. (NASDAQ:FATEGet Rating) by 4.2% in the 1st quarter, Holdings Channel reports. The firm owned 61,508 shares of the biopharmaceutical company’s stock after selling 2,673 shares during the period. Mutual of America Capital Management LLC’s holdings in Fate Therapeutics were worth $2,385,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Compagnie Lombard Odier SCmA purchased a new stake in Fate Therapeutics in the first quarter worth approximately $70,000. KRS Capital Management LLC purchased a new stake in Fate Therapeutics in the fourth quarter worth approximately $125,000. Virtus ETF Advisers LLC boosted its stake in Fate Therapeutics by 39.0% in the fourth quarter. Virtus ETF Advisers LLC now owns 3,274 shares of the biopharmaceutical company’s stock worth $192,000 after buying an additional 918 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Fate Therapeutics by 27.2% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,230 shares of the biopharmaceutical company’s stock worth $315,000 after buying an additional 1,119 shares in the last quarter. Finally, Envestnet Asset Management Inc. purchased a new stake in Fate Therapeutics in the fourth quarter worth approximately $426,000.

Insiders Place Their Bets

In other Fate Therapeutics news, insider Mark Plavsic sold 3,719 shares of the stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $24.61, for a total value of $91,524.59. Following the completion of the transaction, the insider now owns 127,123 shares in the company, valued at $3,128,497.03. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Fate Therapeutics news, insider Mark Plavsic sold 3,719 shares of the stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $24.61, for a total value of $91,524.59. Following the completion of the transaction, the insider now owns 127,123 shares in the company, valued at $3,128,497.03. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO J Scott Wolchko sold 30,000 shares of the stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $32.88, for a total value of $986,400.00. Following the completion of the transaction, the chief executive officer now owns 431,546 shares of the company’s stock, valued at approximately $14,189,232.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,082 shares of company stock worth $1,646,106. 18.58% of the stock is owned by corporate insiders.

Analyst Ratings Changes

FATE has been the subject of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Fate Therapeutics in a research note on Friday, April 1st. Robert W. Baird initiated coverage on Fate Therapeutics in a research note on Thursday, June 2nd. They issued a “neutral” rating and a $28.00 target price for the company. Truist Financial cut their target price on Fate Therapeutics from $125.00 to $75.00 in a research note on Wednesday, April 13th. Piper Sandler dropped their price objective on Fate Therapeutics from $113.00 to $71.00 and set an “overweight” rating for the company in a research note on Monday, May 23rd. Finally, Needham & Company LLC started coverage on Fate Therapeutics in a research note on Thursday. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $74.09.

Fate Therapeutics Stock Down 3.1 %

Shares of Fate Therapeutics stock opened at $32.15 on Friday. The company has a market cap of $3.11 billion, a PE ratio of -12.81 and a beta of 1.59. The business has a 50 day moving average of $25.61 and a 200 day moving average of $32.08. Fate Therapeutics, Inc. has a 52 week low of $17.10 and a 52 week high of $97.43.

Fate Therapeutics (NASDAQ:FATEGet Rating) last announced its earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.68) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.10. The company had revenue of $18.40 million during the quarter, compared to the consensus estimate of $9.01 million. Fate Therapeutics had a negative return on equity of 34.89% and a negative net margin of 368.76%. The firm’s revenue for the quarter was up 65.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.48) earnings per share. On average, research analysts anticipate that Fate Therapeutics, Inc. will post -3.37 earnings per share for the current year.

Fate Therapeutics Profile

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Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its NK- and T-cell immuno-oncology programs under development include FT516 for the treatment of acute myeloid leukemia (AML) B-cell lymphoma, and advanced solid tumor; FT596 to treat B-cell lymphoma and chronic lymphocytic leukemia; FT538 to treat AML and multiple myeloma; FT576 to treat multiple myeloma; FT819 to treat hematologic malignancies and solid tumors; FT536 to treat solid tumors; and FT500 for the treatment of advanced solid tumors.

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Institutional Ownership by Quarter for Fate Therapeutics (NASDAQ:FATE)

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