Charles Schwab Investment Management Inc. Has $2.67 Million Position in Fate Therapeutics, Inc. (NASDAQ:FATE)

Charles Schwab Investment Management Inc. cut its position in Fate Therapeutics, Inc. (NASDAQ:FATE) by 13.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 763,808 shares of the biopharmaceutical company’s stock after selling 115,567 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.67% of Fate Therapeutics worth $2,673,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Intech Investment Management LLC acquired a new position in shares of Fate Therapeutics in the 3rd quarter valued at approximately $108,000. Thrivent Financial for Lutherans raised its position in shares of Fate Therapeutics by 24.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 125,370 shares of the biopharmaceutical company’s stock valued at $439,000 after buying an additional 24,804 shares in the last quarter. Privium Fund Management B.V. acquired a new position in shares of Fate Therapeutics in the 3rd quarter valued at approximately $175,000. Castleview Partners LLC acquired a new position in shares of Fate Therapeutics in the 3rd quarter valued at approximately $73,000. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Fate Therapeutics by 40.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 42,289 shares of the biopharmaceutical company’s stock valued at $148,000 after purchasing an additional 12,230 shares during the last quarter. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FATE shares. Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th. HC Wainwright reaffirmed a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a report on Thursday, August 22nd. Wedbush reaffirmed a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a report on Tuesday, November 12th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.75.

Fate Therapeutics Stock Performance

FATE opened at $1.83 on Monday. The firm has a market cap of $208.42 million, a P/E ratio of -1.11 and a beta of 1.95. The firm has a 50-day moving average of $2.66 and a 200 day moving average of $3.39. Fate Therapeutics, Inc. has a fifty-two week low of $1.82 and a fifty-two week high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.02. The company had revenue of $3.07 million during the quarter, compared to analyst estimates of $0.88 million. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. Equities research analysts predict that Fate Therapeutics, Inc. will post -1.72 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. 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.