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.
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
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.
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