Assenagon Asset Management S.A. Decreases Position in Fate Therapeutics, Inc. (NASDAQ:FATE)

Assenagon Asset Management S.A. trimmed its holdings in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) by 5.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,434,198 shares of the biopharmaceutical company’s stock after selling 140,505 shares during the quarter. Assenagon Asset Management S.A. owned 2.14% of Fate Therapeutics worth $8,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new position in Fate Therapeutics during the 1st quarter valued at approximately $1,109,000. Price T Rowe Associates Inc. MD increased its position in shares of Fate Therapeutics by 404.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 274,289 shares of the biopharmaceutical company’s stock valued at $2,014,000 after acquiring an additional 219,932 shares during the period. Perceptive Advisors LLC purchased a new position in Fate Therapeutics in the 2nd quarter worth $1,133,000. Vanguard Group Inc. raised its stake in Fate Therapeutics by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock worth $72,747,000 after acquiring an additional 617,644 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C lifted its position in Fate Therapeutics by 62.3% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,555,871 shares of the biopharmaceutical company’s stock worth $11,663,000 after acquiring an additional 1,365,463 shares during the period. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FATE has been the topic of a number of research reports. HC Wainwright reissued a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a report on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Fate Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $6.90.

Fate Therapeutics Price Performance

NASDAQ:FATE opened at $2.87 on Tuesday. The company has a 50 day moving average price of $3.44 and a 200-day moving average price of $3.80. Fate Therapeutics, Inc. has a 1-year low of $1.63 and a 1-year high of $8.83. The firm has a market cap of $326.70 million, a price-to-earnings ratio of -1.49 and a beta of 1.83.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.14. Fate Therapeutics had a negative net margin of 1,426.67% and a negative return on equity of 44.09%. The company had revenue of $6.77 million during the quarter, compared to analysts’ expectations of $1.47 million. On average, sell-side analysts anticipate that Fate Therapeutics, Inc. will post -1.73 earnings per share for the current fiscal year.

Fate Therapeutics 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.