State Street Corp Lowers Stock Position in Fate Therapeutics, Inc. (NASDAQ:FATE)

State Street Corp lessened its position in Fate Therapeutics, Inc. (NASDAQ:FATE) by 1.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,252,974 shares of the biopharmaceutical company’s stock after selling 85,715 shares during the quarter. State Street Corp’s holdings in Fate Therapeutics were worth $18,385,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA lifted its stake in Fate Therapeutics by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 167,055 shares of the biopharmaceutical company’s stock worth $548,000 after purchasing an additional 5,605 shares during the last quarter. Doheny Asset Management CA acquired a new position in Fate Therapeutics in the 2nd quarter valued at $263,000. Ausdal Financial Partners Inc. purchased a new position in Fate Therapeutics during the second quarter worth about $33,000. Exchange Traded Concepts LLC raised its stake in shares of Fate Therapeutics by 40.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 42,289 shares of the biopharmaceutical company’s stock worth $148,000 after buying an additional 12,230 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Fate Therapeutics by 11.0% in the second quarter. Rhumbline Advisers now owns 160,001 shares of the biopharmaceutical company’s stock valued at $525,000 after acquiring an additional 15,825 shares during the period. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Fate Therapeutics Trading Down 1.2 %

Shares of NASDAQ:FATE opened at $1.66 on Tuesday. The firm has a market cap of $189.06 million, a P/E ratio of -1.01 and a beta of 1.95. Fate Therapeutics, Inc. has a twelve month low of $1.57 and a twelve month high of $8.83. The company has a 50 day moving average of $2.50 and a 200-day moving average of $3.31.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.02. The business had revenue of $3.07 million during the quarter, compared to analyst estimates of $0.88 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. Equities research analysts forecast that Fate Therapeutics, Inc. will post -1.72 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wedbush reaffirmed a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a report on Tuesday, November 12th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research note on Tuesday, November 19th. Finally, Bank of America raised Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Fate Therapeutics currently has an average rating of “Hold” and a consensus price target of $6.75.

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.