JPMorgan Chase & Co. Grows Holdings in Fate Therapeutics, Inc. (NASDAQ:FATE)

JPMorgan Chase & Co. raised its position in Fate Therapeutics, Inc. (NASDAQ:FATE) by 18.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,837,304 shares of the biopharmaceutical company’s stock after purchasing an additional 283,080 shares during the period. JPMorgan Chase & Co.’s holdings in Fate Therapeutics were worth $6,431,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of FATE. Barclays PLC increased its position in shares of Fate Therapeutics by 245.3% during the third quarter. Barclays PLC now owns 424,277 shares of the biopharmaceutical company’s stock valued at $1,485,000 after acquiring an additional 301,389 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Fate Therapeutics by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company’s stock valued at $7,905,000 after purchasing an additional 10,863 shares during the last quarter. Walleye Capital LLC raised its stake in shares of Fate Therapeutics by 263.5% during the 3rd quarter. Walleye Capital LLC now owns 67,609 shares of the biopharmaceutical company’s stock worth $237,000 after purchasing an additional 49,009 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Fate Therapeutics by 1,307.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 174,148 shares of the biopharmaceutical company’s stock worth $610,000 after buying an additional 161,776 shares during the last quarter. Finally, FMR LLC increased its holdings in Fate Therapeutics by 25.9% during the third quarter. FMR LLC now owns 227,981 shares of the biopharmaceutical company’s stock worth $798,000 after buying an additional 46,892 shares during the last quarter. Institutional investors own 97.54% of the company’s stock.

Insider Buying and Selling at Fate Therapeutics

In other news, Director Redmile Group, Llc purchased 397,964 shares of the business’s stock in a transaction on Friday, December 20th. The stock was purchased at an average cost of $1.68 per share, with a total value of $668,579.52. Following the acquisition, the director now directly owns 12,884,277 shares in the company, valued at approximately $21,645,585.36. This trade represents a 3.19 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.00% of the company’s stock.

Fate Therapeutics Price Performance

Shares of FATE stock opened at $1.32 on Thursday. The stock has a market capitalization of $150.34 million, a price-to-earnings ratio of -0.80 and a beta of 2.02. The company’s fifty day simple moving average is $2.11 and its two-hundred day simple moving average is $3.09. Fate Therapeutics, Inc. has a 1 year low of $1.04 and a 1 year high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.02. The company had revenue of $3.07 million during the quarter, compared to analysts’ expectations 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 anticipate that Fate Therapeutics, Inc. will post -1.72 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Bank of America upgraded shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, November 18th. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research note on Tuesday, November 19th. Finally, Wedbush reissued a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.75.

Fate Therapeutics Company Profile

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.