Price T Rowe Associates Inc. MD Cuts Stock Position in Fate Therapeutics, Inc. (NASDAQ:FATE)

Price T Rowe Associates Inc. MD cut its holdings in Fate Therapeutics, Inc. (NASDAQ:FATE) by 41.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,049 shares of the biopharmaceutical company’s stock after selling 27,170 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Fate Therapeutics were worth $63,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. purchased a new position in Fate Therapeutics during the fourth quarter worth $40,000. FPC Investment Advisory Inc. purchased a new position in Fate Therapeutics during the fourth quarter worth $44,000. Y Intercept Hong Kong Ltd purchased a new position in Fate Therapeutics during the fourth quarter worth $58,000. Intech Investment Management LLC boosted its stake in Fate Therapeutics by 27.5% during the fourth quarter. Intech Investment Management LLC now owns 39,443 shares of the biopharmaceutical company’s stock worth $65,000 after buying an additional 8,497 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Fate Therapeutics by 30.6% during the fourth quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company’s stock worth $74,000 after buying an additional 10,511 shares during the period. 97.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on FATE. Barclays dropped their price objective on shares of Fate Therapeutics from $10.00 to $2.00 and set an “overweight” rating for the company in a research note on Wednesday, May 14th. Wedbush reaffirmed a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a research note on Thursday, March 6th. Robert W. Baird dropped their price objective on shares of Fate Therapeutics from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Wednesday, May 14th. Stifel Nicolaus decreased their target price on Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating for the company in a research report on Thursday, March 6th. Finally, StockNews.com upgraded Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.14.

Fate Therapeutics Trading Up 5.9%

NASDAQ:FATE opened at $1.07 on Monday. The stock has a fifty day simple moving average of $1.01 and a 200-day simple moving average of $1.50. The company has a market cap of $122.63 million, a price-to-earnings ratio of -0.65 and a beta of 2.32. Fate Therapeutics, Inc. has a twelve month low of $0.66 and a twelve month high of $5.92.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.07. The firm had revenue of $1.63 million during the quarter, compared to the consensus estimate of $1.18 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. As a group, equities research analysts predict that Fate Therapeutics, Inc. will post -1.63 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.