California Public Employees Retirement System Trims Position in Fate Therapeutics, Inc. (NASDAQ:FATE)

California Public Employees Retirement System reduced its position in shares of Fate Therapeutics, Inc. (NASDAQ:FATE – Get Rating) by 9.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 158,802 shares of the biopharmaceutical company’s stock after selling 17,402 shares during the period. California Public Employees Retirement System owned approximately 0.16% of Fate Therapeutics worth $1,602,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in Fate Therapeutics during the third quarter worth about $69,000. Great West Life Assurance Co. Can purchased a new position in Fate Therapeutics during the third quarter worth about $91,000. Royal Bank of Canada raised its holdings in Fate Therapeutics by 13.8% during the third quarter. Royal Bank of Canada now owns 4,575 shares of the biopharmaceutical company’s stock worth $103,000 after purchasing an additional 556 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Fate Therapeutics during the first quarter worth about $180,000. Finally, Baird Financial Group Inc. raised its holdings in Fate Therapeutics by 48.4% during the first quarter. Baird Financial Group Inc. now owns 5,801 shares of the biopharmaceutical company’s stock worth $225,000 after purchasing an additional 1,892 shares in the last quarter.

Fate Therapeutics Stock Performance

Shares of NASDAQ FATE opened at $4.98 on Friday. Fate Therapeutics, Inc. has a 1 year low of $4.02 and a 1 year high of $37.13. The firm’s 50 day moving average price is $5.65 and its 200 day moving average price is $9.50. The firm has a market cap of $489.95 million, a P/E ratio of -2.06 and a beta of 1.49.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FATE shares. Wells Fargo & Company reissued an “equal weight” rating and set a $6.00 price target on shares of Fate Therapeutics in a report on Monday, March 27th. Stifel Nicolaus dropped their target price on shares of Fate Therapeutics from $5.30 to $5.00 in a report on Thursday, May 4th. EF Hutton Acquisition Co. I reaffirmed a “buy” rating and issued a $10.00 target price on shares of Fate Therapeutics in a report on Wednesday, March 1st. StockNews.com started coverage on shares of Fate Therapeutics in a report on Thursday. They issued a “hold” rating for the company. Finally, Piper Sandler dropped their target price on shares of Fate Therapeutics from $12.00 to $7.00 in a report on Wednesday, March 1st. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $16.24.

Insiders Place Their Bets

In related news, Director Redmile Group, Llc purchased 20,000 shares of the business’s stock in a transaction on Thursday, April 20th. The shares were bought at an average price of $5.99 per share, with a total value of $119,800.00. Following the completion of the purchase, the director now directly owns 12,879,119 shares in the company, valued at approximately $77,145,922.81. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 5.04% of the stock is currently owned by insiders.

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.