Federated Hermes Inc. raised its holdings in shares of Fate Therapeutics, Inc. (NASDAQ:FATE – Free Report) by 188.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,662,321 shares of the biopharmaceutical company’s stock after purchasing an additional 1,086,805 shares during the period. Federated Hermes Inc. owned 1.69% of Fate Therapeutics worth $9,475,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Natixis bought a new stake in shares of Fate Therapeutics during the 4th quarter valued at about $29,000. CI Investments Inc. increased its position in Fate Therapeutics by 413.7% during the 4th quarter. CI Investments Inc. now owns 3,082 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 2,482 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Fate Therapeutics by 1,735.0% during the first quarter. Nisa Investment Advisors LLC now owns 5,505 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 5,205 shares during the last quarter. ETF Managers Group LLC bought a new position in shares of Fate Therapeutics during the first quarter valued at $36,000. Finally, Coppell Advisory Solutions Corp. purchased a new position in shares of Fate Therapeutics in the 4th quarter worth about $42,000.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the stock. Barclays cut their price target on shares of Fate Therapeutics from $12.00 to $6.00 and set an “overweight” rating on the stock in a report on Thursday. StockNews.com initiated coverage on Fate Therapeutics in a research report on Thursday, May 18th. They issued a “hold” rating for the company. BMO Capital Markets dropped their price target on shares of Fate Therapeutics from $6.00 to $5.40 and set a “market perform” rating on the stock in a report on Wednesday. Cantor Fitzgerald decreased their price objective on shares of Fate Therapeutics from $8.00 to $5.00 in a report on Thursday, May 4th. Finally, Morgan Stanley cut their target price on shares of Fate Therapeutics from $8.00 to $5.00 and set an “equal weight” rating for the company in a research report on Thursday. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fate Therapeutics currently has a consensus rating of “Hold” and an average target price of $12.96.
Fate Therapeutics Stock Down 5.2 %
NASDAQ:FATE opened at $3.09 on Friday. The stock has a market cap of $304.55 million, a PE ratio of -1.42 and a beta of 1.47. The business’s 50-day simple moving average is $4.69 and its two-hundred day simple moving average is $5.38. Fate Therapeutics, Inc. has a 52 week low of $3.08 and a 52 week high of $36.75.
Fate Therapeutics (NASDAQ:FATE – Get Free Report) last released its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.04. Fate Therapeutics had a negative net margin of 177.41% and a negative return on equity of 44.14%. The firm had revenue of $0.93 million for the quarter, compared to analysts’ expectations of $5.41 million. During the same quarter last year, the business posted ($0.79) earnings per share. The company’s revenue for the quarter was down 95.0% compared to the same quarter last year. Sell-side analysts anticipate that Fate Therapeutics, Inc. will post -1.9 earnings per share for the current fiscal year.
Insider Buying and Selling at Fate Therapeutics
In other news, CFO Edward J. Dulac III sold 5,182 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $4.83, for a total transaction of $25,029.06. Following the completion of the transaction, the chief financial officer now owns 124,288 shares in the company, valued at $600,311.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 13,128 shares of company stock worth $65,450. Insiders own 5.04% of the company’s stock.
Fate Therapeutics Profile
Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its 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; and CAR T-cell programs include FT819 to treat hematologic malignancies and solid tumors, and FT825 to treat solid tumors.
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