Fate Therapeutics, Inc. (NASDAQ:FATE) Shares Sold by Boxer Capital LLC

Boxer Capital LLC cut its stake in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) by 60.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 500,000 shares of the biopharmaceutical company’s stock after selling 750,000 shares during the period. Boxer Capital LLC owned approximately 0.51% of Fate Therapeutics worth $2,850,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FATE. BlackRock Inc. raised its position in shares of Fate Therapeutics by 18.0% in the 1st quarter. BlackRock Inc. now owns 11,476,243 shares of the biopharmaceutical company’s stock valued at $65,415,000 after purchasing an additional 1,750,019 shares in the last quarter. Vanguard Group Inc. increased its holdings 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 last quarter. State Street Corp increased its holdings 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 last quarter. Price T Rowe Associates Inc. MD increased its holdings 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 last quarter. Finally, Capital World Investors increased its holdings 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 last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FATE shares. Morgan Stanley lowered their price objective on Fate Therapeutics from $8.00 to $5.00 and set an “equal weight” rating for the company in a research note on Thursday, August 10th. Barclays lowered their price objective on Fate Therapeutics from $12.00 to $6.00 and set an “overweight” rating for the company in a research note on Thursday, August 10th. Cantor Fitzgerald reissued a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a research note on Thursday, September 7th. Truist Financial reissued a “hold” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research note on Wednesday, August 16th. Finally, StockNews.com initiated coverage on Fate Therapeutics in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Fate Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $12.96.

Fate Therapeutics Stock Down 1.6 %

Shares of NASDAQ FATE opened at $2.44 on Tuesday. Fate Therapeutics, Inc. has a 12 month low of $2.34 and a 12 month high of $29.42. The company has a market cap of $240.49 million, a P/E ratio of -1.12 and a beta of 1.47. The business’s 50 day moving average is $3.60 and its two-hundred day moving average is $4.85.

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

Insider Buying and Selling at Fate Therapeutics

In other Fate Therapeutics news, CFO Edward J. Dulac III sold 5,182 shares of Fate Therapeutics stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $4.83, for a total transaction of $25,029.06. Following the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 17,846 shares of company stock valued at $78,660. 5.04% of the stock is currently owned by corporate insiders.

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.