Vanguard Group Inc. Cuts Stake in Fate Therapeutics, Inc. (NASDAQ:FATE)

Vanguard Group Inc. cut its holdings in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,333,033 shares of the biopharmaceutical company’s stock after selling 71,090 shares during the quarter. Vanguard Group Inc. owned 9.07% of Fate Therapeutics worth $17,050,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. FMR LLC raised its position in Fate Therapeutics by 25.9% in the 3rd quarter. FMR LLC now owns 227,981 shares of the biopharmaceutical company’s stock worth $798,000 after purchasing an additional 46,892 shares during the period. Barclays PLC grew its stake in shares of Fate Therapeutics by 245.3% during the third quarter. Barclays PLC now owns 424,277 shares of the biopharmaceutical company’s stock valued at $1,485,000 after buying an additional 301,389 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Fate Therapeutics by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company’s stock valued at $7,905,000 after acquiring an additional 10,863 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Fate Therapeutics by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,837,304 shares of the biopharmaceutical company’s stock valued at $6,431,000 after acquiring an additional 283,080 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in Fate Therapeutics by 30.6% during the 4th quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company’s stock valued at $74,000 after acquiring an additional 10,511 shares during the period. 97.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on FATE shares. StockNews.com downgraded Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, March 11th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research report on Thursday, March 6th. Stifel Nicolaus decreased their price objective on shares of Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating on the stock in a research report on Thursday, March 6th. Wells Fargo & Company dropped their target price on shares of Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Finally, Wedbush restated a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.43.

Fate Therapeutics Stock Performance

FATE stock opened at $1.05 on Thursday. The company has a market capitalization of $120.33 million, a price-to-earnings ratio of -0.64 and a beta of 2.41. The business’s 50 day moving average price is $1.04 and its two-hundred day moving average price is $1.81. Fate Therapeutics, Inc. has a fifty-two week low of $0.66 and a fifty-two week high of $5.92.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings data on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.13. The business had revenue of $1.86 million during the quarter, compared to the consensus estimate of $1.57 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. Sell-side analysts forecast that Fate Therapeutics, Inc. will post -1.63 earnings per share for the current 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.