Allspring Global Investments Holdings LLC Has $5.57 Million Holdings in Fate Therapeutics, Inc. (NASDAQ:FATE)

Allspring Global Investments Holdings LLC raised its position in shares of Fate Therapeutics, Inc. (NASDAQ:FATEGet Rating) by 13.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 248,619 shares of the biopharmaceutical company’s stock after purchasing an additional 30,317 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.26% of Fate Therapeutics worth $5,571,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. National Bank of Canada FI bought a new position in shares of Fate Therapeutics during the 2nd quarter worth approximately $25,000. Kessler Investment Group LLC bought a new position in shares of Fate Therapeutics during the 3rd quarter worth approximately $82,000. Point72 Hong Kong Ltd bought a new position in shares of Fate Therapeutics during the 1st quarter worth approximately $180,000. Virtus ETF Advisers LLC boosted its holdings in shares of Fate Therapeutics by 80.1% during the 2nd quarter. Virtus ETF Advisers LLC now owns 5,566 shares of the biopharmaceutical company’s stock worth $138,000 after buying an additional 2,475 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in shares of Fate Therapeutics by 48.4% during the 1st quarter. Baird Financial Group Inc. now owns 5,801 shares of the biopharmaceutical company’s stock worth $225,000 after buying an additional 1,892 shares in the last quarter.

Insider Activity

In other news, CEO J Scott Wolchko sold 45,907 shares of the firm’s stock in a transaction on Tuesday, January 10th. The stock was sold at an average price of $5.24, for a total transaction of $240,552.68. Following the completion of the sale, the chief executive officer now directly owns 385,639 shares of the company’s stock, valued at approximately $2,020,748.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO J Scott Wolchko sold 45,907 shares of Fate Therapeutics stock in a transaction dated Tuesday, January 10th. The stock was sold at an average price of $5.24, for a total value of $240,552.68. Following the completion of the sale, the chief executive officer now owns 385,639 shares of the company’s stock, valued at approximately $2,020,748.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bahram Valamehr sold 10,917 shares of Fate Therapeutics stock in a transaction dated Tuesday, January 10th. The stock was sold at an average price of $5.24, for a total value of $57,205.08. Following the completion of the sale, the insider now directly owns 168,917 shares of the company’s stock, valued at approximately $885,125.08. The disclosure for this sale can be found here. Insiders sold a total of 75,708 shares of company stock valued at $396,710 in the last ninety days. 17.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

FATE has been the topic of a number of research analyst reports. Truist Financial restated a “hold” rating and set a $7.00 price target (down from $46.00) on shares of Fate Therapeutics in a report on Friday, January 6th. Cantor Fitzgerald cut Fate Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, January 9th. Cowen cut Fate Therapeutics from an “outperform” rating to a “market perform” rating in a report on Friday, January 6th. Guggenheim cut Fate Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday, January 3rd. Finally, Oppenheimer cut Fate Therapeutics from an “outperform” rating to a “market perform” rating in a report on Thursday, December 22nd. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $36.50.

Fate Therapeutics Price Performance

Shares of Fate Therapeutics stock opened at $5.40 on Tuesday. Fate Therapeutics, Inc. has a 1 year low of $4.02 and a 1 year high of $44.00. The firm has a market cap of $524.72 million, a PE ratio of -1.77 and a beta of 1.74. The stock has a fifty day moving average price of $15.00 and a 200-day moving average price of $22.50.

Fate Therapeutics (NASDAQ:FATEGet Rating) last announced its earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($0.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.93) by $0.07. Fate Therapeutics had a negative return on equity of 48.78% and a negative net margin of 425.99%. The firm had revenue of $14.98 million during the quarter, compared to analyst estimates of $15.34 million. As a group, equities analysts anticipate that Fate Therapeutics, Inc. will post -3.22 EPS for the current fiscal year.

Fate Therapeutics Company 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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