State Street Corp Sells 85,715 Shares of Fate Therapeutics, Inc. (NASDAQ:FATE)

State Street Corp reduced its position in Fate Therapeutics, Inc. (NASDAQ:FATE) by 1.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,252,974 shares of the biopharmaceutical company’s stock after selling 85,715 shares during the quarter. State Street Corp owned 4.61% of Fate Therapeutics worth $18,385,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp grew its position in Fate Therapeutics by 23.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 374,132 shares of the biopharmaceutical company’s stock worth $1,227,000 after acquiring an additional 72,139 shares during the last quarter. Rhumbline Advisers boosted its stake in Fate Therapeutics by 11.0% during the second quarter. Rhumbline Advisers now owns 160,001 shares of the biopharmaceutical company’s stock worth $525,000 after acquiring an additional 15,825 shares in the last quarter. Arizona State Retirement System purchased a new stake in shares of Fate Therapeutics in the 2nd quarter worth approximately $84,000. Acadian Asset Management LLC increased its holdings in shares of Fate Therapeutics by 17.2% during the second quarter. Acadian Asset Management LLC now owns 2,008,862 shares of the biopharmaceutical company’s stock valued at $6,587,000 after acquiring an additional 294,738 shares in the last quarter. Finally, Ausdal Financial Partners Inc. bought a new stake in Fate Therapeutics during the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Stock Down 1.2 %

Shares of NASDAQ:FATE opened at $1.66 on Tuesday. The stock has a market cap of $189.06 million, a price-to-earnings ratio of -1.01 and a beta of 1.95. Fate Therapeutics, Inc. has a 52-week low of $1.57 and a 52-week high of $8.83. The business has a 50-day moving average price of $2.50 and a 200-day moving average price of $3.31.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.02. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. The firm had revenue of $3.07 million for the quarter, compared to the consensus estimate of $0.88 million. As a group, equities analysts anticipate that Fate Therapeutics, Inc. will post -1.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FATE has been the subject of a number of recent analyst reports. Wedbush reissued a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research report on Tuesday, November 12th. Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th. Finally, Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Fate Therapeutics has an average rating of “Hold” and a consensus price target of $6.75.

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.