Russell Investments Group Ltd. Acquires 171,561 Shares of Fate Therapeutics, Inc. (NASDAQ:FATE)

Russell Investments Group Ltd. grew its holdings in Fate Therapeutics, Inc. (NASDAQ:FATE) by 32,431.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 172,090 shares of the biopharmaceutical company’s stock after purchasing an additional 171,561 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.17% of Fate Therapeutics worth $981,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of Fate Therapeutics by 6.8% in the 3rd quarter. BlackRock Inc. now owns 7,917,421 shares of the biopharmaceutical company’s stock valued at $177,428,000 after purchasing an additional 501,445 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Fate Therapeutics by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 7,814,980 shares of the biopharmaceutical company’s stock valued at $175,133,000 after acquiring an additional 57,040 shares during the period. State Street Corp raised its position in shares of Fate Therapeutics by 51.8% in the 2nd quarter. State Street Corp now owns 5,270,135 shares of the biopharmaceutical company’s stock valued at $130,594,000 after acquiring an additional 1,797,703 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Fate Therapeutics by 1.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,983,503 shares of the biopharmaceutical company’s stock valued at $123,491,000 after acquiring an additional 72,136 shares during the period. Finally, Capital World Investors raised its position in shares of Fate Therapeutics by 39.9% in the 1st quarter. Capital World Investors now owns 4,559,673 shares of the biopharmaceutical company’s stock valued at $176,779,000 after acquiring an additional 1,300,640 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FATE. Barclays cut their price target on shares of Fate Therapeutics from $12.00 to $6.00 and set an “overweight” rating on the stock in a research report on Thursday, August 10th. BMO Capital Markets dropped their target price on shares of Fate Therapeutics from $6.00 to $5.40 and set a “market perform” rating on the stock in a report on Wednesday, August 9th. StockNews.com initiated coverage on shares of Fate Therapeutics in a report on Thursday, August 17th. They set a “hold” rating on the stock. Morgan Stanley dropped their target price on shares of Fate Therapeutics from $8.00 to $5.00 and set an “equal weight” rating on the stock in a report on Thursday, August 10th. Finally, Truist Financial restated a “hold” rating and set a $7.00 target price on shares of Fate Therapeutics in a report on Wednesday, August 16th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Fate Therapeutics has a consensus rating of “Hold” and an average target price of $12.96.

Insiders Place Their Bets

In other Fate Therapeutics news, CFO Edward J. Dulac III sold 5,182 shares of Fate Therapeutics stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $4.83, for a total transaction of $25,029.06. Following the completion of the transaction, the chief financial officer now directly owns 124,288 shares of the company’s stock, valued at $600,311.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 17,846 shares of company stock valued at $78,660 over the last ninety days. 5.04% of the stock is currently owned by company insiders.

Fate Therapeutics Trading Down 4.9 %

NASDAQ:FATE opened at $2.51 on Friday. Fate Therapeutics, Inc. has a 1-year low of $2.49 and a 1-year high of $29.42. The firm has a fifty day simple moving average of $3.98 and a 200 day simple moving average of $5.07. The stock has a market capitalization of $247.39 million, a PE ratio of -1.18 and a beta of 1.47.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.04. Fate Therapeutics had a negative net margin of 177.41% and a negative return on equity of 44.14%. The firm had revenue of $0.93 million during the quarter, compared to analysts’ expectations of $5.41 million. During the same period in the previous year, the business posted ($0.79) earnings per share. The company’s revenue for the quarter was down 95.0% compared to the same quarter last year. On average, equities analysts predict that Fate Therapeutics, Inc. will post -1.91 earnings per share for the current fiscal year.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its chimeric antigen receptor (CAR)-targeted NK and T-cell product candidates include FT576 to treat multiple myeloma and FT522, to treat lymphoma and autoimmune disorders; and CAR T-cell programs include FT819 to treat hematologic malignancies and solid tumors, and FT825 to treat solid tumors.