Federated Hermes Inc. Sells 601,672 Shares of Fate Therapeutics, Inc. (NASDAQ:FATE)

Federated Hermes Inc. lowered its position in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) by 24.5% during the fourth quarter, HoldingsChannel reports. The fund owned 1,849,872 shares of the biopharmaceutical company’s stock after selling 601,672 shares during the quarter. Federated Hermes Inc.’s holdings in Fate Therapeutics were worth $6,919,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Cerity Partners LLC acquired a new stake in shares of Fate Therapeutics during the fourth quarter valued at about $120,000. Nisa Investment Advisors LLC raised its holdings in Fate Therapeutics by 1,069.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 16,840 shares of the biopharmaceutical company’s stock valued at $63,000 after buying an additional 15,400 shares during the last quarter. SG Americas Securities LLC raised its holdings in Fate Therapeutics by 23.0% in the 4th quarter. SG Americas Securities LLC now owns 90,553 shares of the biopharmaceutical company’s stock valued at $339,000 after buying an additional 16,911 shares during the last quarter. Epiq Partners LLC acquired a new stake in Fate Therapeutics during the 4th quarter worth approximately $38,000. Finally, Exchange Traded Concepts LLC grew its holdings in Fate Therapeutics by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 63,725 shares of the biopharmaceutical company’s stock worth $238,000 after acquiring an additional 16,159 shares during the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FATE. Oppenheimer reiterated a “market perform” rating on shares of Fate Therapeutics in a report on Tuesday, February 27th. Bank of America upped their price target on Fate Therapeutics from $2.00 to $6.00 and gave the company an “underperform” rating in a research report on Thursday, March 28th. Wedbush restated a “neutral” rating and set a $7.00 price objective on shares of Fate Therapeutics in a research report on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a report on Thursday, April 11th. Finally, HC Wainwright reissued a “neutral” rating and set a $7.00 target price on shares of Fate Therapeutics in a research report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.73.

Fate Therapeutics Stock Down 5.3 %

NASDAQ:FATE opened at $4.30 on Thursday. Fate Therapeutics, Inc. has a twelve month low of $1.63 and a twelve month high of $8.83. The company has a fifty day moving average of $6.84 and a 200-day moving average of $4.56. The firm has a market capitalization of $489.41 million, a P/E ratio of -2.62 and a beta of 1.66.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings data on Monday, February 26th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.12. The firm had revenue of $1.68 million for the quarter, compared to analyst estimates of $0.85 million. Fate Therapeutics had a negative net margin of 253.30% and a negative return on equity of 38.17%. During the same quarter in the prior year, the business earned ($0.58) earnings per share. On average, analysts anticipate that Fate Therapeutics, Inc. will post -1.94 EPS for the current fiscal year.

Fate Therapeutics Profile

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. The company's 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.