Assenagon Asset Management S.A. Has $239,000 Holdings in Fate Therapeutics, Inc. (NASDAQ:FATE)

Assenagon Asset Management S.A. cut its holdings in Fate Therapeutics, Inc. (NASDAQ:FATE) by 18.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 302,899 shares of the biopharmaceutical company’s stock after selling 69,608 shares during the quarter. Assenagon Asset Management S.A. owned 0.26% of Fate Therapeutics worth $239,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Graham Capital Management L.P. acquired a new position in Fate Therapeutics in the fourth quarter valued at approximately $37,000. Brevan Howard Capital Management LP acquired a new position in shares of Fate Therapeutics during the fourth quarter worth approximately $41,000. FPC Investment Advisory Inc. acquired a new position in shares of Fate Therapeutics during the fourth quarter worth approximately $44,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Fate Therapeutics during the fourth quarter worth approximately $55,000. Finally, ProShare Advisors LLC raised its position in shares of Fate Therapeutics by 77.9% during the fourth quarter. ProShare Advisors LLC now owns 33,645 shares of the biopharmaceutical company’s stock worth $56,000 after purchasing an additional 14,728 shares during the period. 97.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FATE has been the topic of a number of research reports. Wall Street Zen raised Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, May 15th. Wells Fargo & Company lowered their price target on Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research report on Thursday, June 12th. Robert W. Baird lowered their price target on Fate Therapeutics from $5.00 to $4.00 and set a “neutral” rating for the company in a research report on Wednesday, May 14th. Finally, Stifel Nicolaus lowered their price target 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. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Fate Therapeutics presently has an average rating of “Hold” and an average price target of $3.83.

Fate Therapeutics Stock Performance

FATE stock opened at $1.21 on Friday. The company has a market capitalization of $138.67 million, a price-to-earnings ratio of -0.81 and a beta of 2.23. Fate Therapeutics, Inc. has a fifty-two week low of $0.66 and a fifty-two week high of $5.92. The stock has a fifty day moving average of $1.22 and a 200-day moving average of $1.31.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.07. The company 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 47.17% and a negative net margin of 1,318.93%. Equities analysts predict that Fate Therapeutics, Inc. will post -1.63 EPS for the current year.

About Fate Therapeutics

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.