Fate Therapeutics, Inc. (NASDAQ:FATE) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in Fate Therapeutics, Inc. (NASDAQ:FATE – Get Rating) by 22.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 759,802 shares of the biopharmaceutical company’s stock after selling 221,137 shares during the quarter. Victory Capital Management Inc. owned 0.78% of Fate Therapeutics worth $7,624,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FATE. Quantbot Technologies LP acquired a new stake in Fate Therapeutics in the third quarter worth about $69,000. Great West Life Assurance Co. Can acquired a new stake in shares of Fate Therapeutics during the third quarter worth about $91,000. Royal Bank of Canada lifted its holdings in shares of 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 during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Fate Therapeutics by 14.4% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 12,649 shares of the biopharmaceutical company’s stock worth $129,000 after purchasing an additional 1,597 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Fate Therapeutics by 47.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,660 shares of the biopharmaceutical company’s stock worth $148,000 after purchasing an additional 4,685 shares during the period.

Fate Therapeutics Price Performance

Fate Therapeutics stock opened at $5.04 on Friday. The stock has a market capitalization of $495.84 million, a PE ratio of -2.08 and a beta of 1.49. Fate Therapeutics, Inc. has a 12 month low of $4.02 and a 12 month high of $37.13. The business has a 50 day simple moving average of $5.63 and a 200-day simple moving average of $9.08.

Fate Therapeutics (NASDAQ:FATE – Get Rating) last posted its quarterly earnings data on Wednesday, May 3rd. The biopharmaceutical company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.36. The business had revenue of $58.98 million during the quarter, compared to analysts’ expectations of $33.53 million. Fate Therapeutics had a negative return on equity of 45.62% and a negative net margin of 171.64%. The business’s revenue was up 220.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.68) earnings per share. On average, equities research analysts anticipate that Fate Therapeutics, Inc. will post -1.92 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Redmile Group, Llc purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, April 20th. The stock was purchased at an average cost of $5.99 per share, for a total transaction of $119,800.00. Following the completion of the transaction, the director now owns 12,879,119 shares of the company’s stock, valued at $77,145,922.81. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.04% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on FATE shares. StockNews.com started coverage on Fate Therapeutics in a report on Thursday, May 18th. They set a “hold” rating for the company. Cantor Fitzgerald decreased their target price on Fate Therapeutics from $8.00 to $5.00 in a report on Thursday, May 4th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $6.00 target price on shares of Fate Therapeutics in a report on Monday, March 27th. Piper Sandler decreased their price target on Fate Therapeutics from $12.00 to $7.00 in a report on Wednesday, March 1st. Finally, EF Hutton Acquisition Co. I reissued a “buy” rating and issued a $10.00 price target on shares of Fate Therapeutics in a report on Wednesday, March 1st. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $16.24.

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.