Northern Trust Corp raised its holdings in Fate Therapeutics, Inc. (NASDAQ:FATE) by 968.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 368,208 shares of the biopharmaceutical company’s stock after buying an additional 333,753 shares during the period. Northern Trust Corp owned approximately 0.89% of Fate Therapeutics worth $1,193,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of FATE. Goldman Sachs Group Inc. boosted its position in Fate Therapeutics by 479.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 144,053 shares of the biopharmaceutical company’s stock valued at $655,000 after buying an additional 119,200 shares during the period. TIAA CREF Investment Management LLC purchased a new position in Fate Therapeutics in the 2nd quarter valued at approximately $373,000. Algert Global LLC purchased a new position in Fate Therapeutics in the 2nd quarter valued at approximately $331,000. Bank of New York Mellon Corp boosted its position in Fate Therapeutics by 164.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 157,546 shares of the biopharmaceutical company’s stock valued at $511,000 after buying an additional 98,036 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Fate Therapeutics by 40.9% in the 1st quarter. Renaissance Technologies LLC now owns 295,700 shares of the biopharmaceutical company’s stock valued at $1,345,000 after buying an additional 85,800 shares during the period. 60.97% of the stock is owned by institutional investors.
In other news, insider Daniel D. Shoemaker sold 13,225 shares of Fate Therapeutics stock in a transaction on Monday, October 16th. The shares were sold at an average price of $3.87, for a total transaction of $51,180.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Cindy Tahl sold 8,091 shares of Fate Therapeutics stock in a transaction on Monday, October 16th. The stock was sold at an average price of $3.85, for a total transaction of $31,150.35. The disclosure for this sale can be found here. 10.88% of the stock is currently owned by insiders.
Shares of Fate Therapeutics, Inc. (NASDAQ FATE) opened at $4.04 on Wednesday. Fate Therapeutics, Inc. has a 1 year low of $2.40 and a 1 year high of $5.68. The company has a debt-to-equity ratio of 0.32, a quick ratio of 7.21 and a current ratio of 7.21.
Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.01). The firm had revenue of $1.03 million for the quarter, compared to analysts’ expectations of $0.95 million. Fate Therapeutics had a negative return on equity of 64.55% and a negative net margin of 935.09%. The firm’s quarterly revenue was up .0% on a year-over-year basis. research analysts expect that Fate Therapeutics, Inc. will post -0.99 earnings per share for the current fiscal year.
Several equities analysts have commented on the stock. Zacks Investment Research cut shares of Fate Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research report on Friday, November 10th. ValuEngine cut shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, September 22nd. BMO Capital Markets reissued a “buy” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research report on Thursday, November 2nd. Finally, Leerink Swann reissued an “outperform” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $6.79.
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Fate Therapeutics Company Profile
Fate Therapeutics, Inc (Fate Therapeutics) is a clinical-stage biopharmaceutical company. The Company is engaged in development of programmed cellular immunotherapies for cancer and immune disorders. The Company’s cell therapy pipeline consists of immuno-oncology programs, including cancer immunotherapies derived from engineered induced pluripotent cells, and immuno-regulatory programs, including hematopoietic cell immunotherapies for protecting the immune system of patients undergoing hematopoietic cell transplantation and for suppressing autoimmunity.
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