BlackRock Inc. raised its stake in Fate Therapeutics Inc (NASDAQ:FATE) by 13.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,285,830 shares of the biopharmaceutical company’s stock after buying an additional 382,821 shares during the quarter. BlackRock Inc. owned about 6.15% of Fate Therapeutics worth $37,263,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Swiss National Bank purchased a new stake in Fate Therapeutics in the 2nd quarter valued at $833,000. Schwab Charles Investment Management Inc. increased its holdings in Fate Therapeutics by 8.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 105,300 shares of the biopharmaceutical company’s stock worth $1,195,000 after acquiring an additional 7,800 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Fate Therapeutics in the 2nd quarter worth about $907,000. Quantitative Systematic Strategies LLC bought a new position in Fate Therapeutics in the 2nd quarter worth about $129,000. Finally, Strs Ohio boosted its stake in Fate Therapeutics by 631.5% in the 2nd quarter. Strs Ohio now owns 81,200 shares of the biopharmaceutical company’s stock worth $920,000 after purchasing an additional 70,100 shares during the period. Institutional investors own 80.69% of the company’s stock.
In other news, Director Redmile Group, Llc acquired 3,703,704 shares of Fate Therapeutics stock in a transaction on Tuesday, September 25th. The shares were bought at an average cost of $13.50 per share, for a total transaction of $50,000,004.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 9.89% of the company’s stock.
FATE has been the subject of a number of research analyst reports. Piper Jaffray Companies reiterated an “overweight” rating and set a $23.00 price target on shares of Fate Therapeutics in a research report on Tuesday, September 25th. BidaskClub upgraded Fate Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, September 25th. Jefferies Financial Group began coverage on Fate Therapeutics in a research note on Monday, November 5th. They issued a “buy” rating and a $17.00 price target on the stock. Zacks Investment Research raised Fate Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, September 21st. Finally, Wedbush restated an “outperform” rating and set a $19.00 price target on shares of Fate Therapeutics in a research report on Tuesday, August 7th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $17.25.
FATE traded down $0.77 during midday trading on Friday, reaching $12.82. The company had a trading volume of 573,482 shares, compared to its average volume of 778,717. Fate Therapeutics Inc has a 1 year low of $3.80 and a 1 year high of $16.94. The company has a debt-to-equity ratio of 0.07, a quick ratio of 9.44 and a current ratio of 9.44.
Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.06). Fate Therapeutics had a negative net margin of 1,536.05% and a negative return on equity of 68.57%. The company had revenue of $1.03 million during the quarter, compared to the consensus estimate of $1.24 million. During the same period in the previous year, the business earned ($0.26) earnings per share. Fate Therapeutics’s revenue for the quarter was up .0% on a year-over-year basis. Analysts forecast that Fate Therapeutics Inc will post -1.21 EPS for the current year.
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Fate Therapeutics Profile
Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its immuno-oncology product candidates include FATE-NK100, a natural killer (NK) cell cancer immunotherapy that consists of adaptive memory NK cells; FT500 induced pluripotent stem cells (iPSC)-derived NK cell product candidate for the treatment of advanced solid tumors; FT516 engineered iPSC-derived NK cell product candidate for the treatment of hematologic/solid tumors; and FT819 engineered chimeric antigen receptor 19 iPSC-derived T-cell product candidate for hematologic/solid tumors.
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