Fate Therapeutics, Inc. (NASDAQ:FATE) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. decreased its holdings in Fate Therapeutics, Inc. (NASDAQ:FATE) by 52.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,683 shares of the biopharmaceutical company’s stock after selling 22,789 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Fate Therapeutics were worth $72,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Baker BROS. Advisors LP acquired a new stake in shares of Fate Therapeutics during the first quarter valued at approximately $13,345,000. Deerfield Management Company L.P. Series C boosted its position in Fate Therapeutics by 62.3% during the second quarter. Deerfield Management Company L.P. Series C now owns 3,555,871 shares of the biopharmaceutical company’s stock valued at $11,663,000 after purchasing an additional 1,365,463 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Fate Therapeutics by 100.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,130,280 shares of the biopharmaceutical company’s stock valued at $6,987,000 after buying an additional 1,067,101 shares in the last quarter. Integral Health Asset Management LLC grew its position in Fate Therapeutics by 325.0% in the second quarter. Integral Health Asset Management LLC now owns 850,000 shares of the biopharmaceutical company’s stock worth $2,788,000 after acquiring an additional 650,000 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Fate Therapeutics by 6.6% in the first quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock worth $72,747,000 after purchasing an additional 617,644 shares in the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FATE has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research report on Wednesday, November 13th. Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday. Wedbush reissued a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research note on Tuesday, November 12th. Finally, HC Wainwright reissued a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.89.

Fate Therapeutics Trading Up 12.4 %

Fate Therapeutics stock opened at $2.27 on Tuesday. The firm has a market capitalization of $258.54 million, a P/E ratio of -1.38 and a beta of 1.88. The business has a 50-day moving average of $3.09 and a 200-day moving average of $3.57. Fate Therapeutics, Inc. has a 1 year low of $1.96 and a 1 year high of $8.83.

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

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.