JPMorgan Chase & Co. raised its stake in shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Free Report) by 18.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,837,304 shares of the biopharmaceutical company's stock after acquiring an additional 283,080 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.61% of Fate Therapeutics worth $6,431,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA increased its position in shares of 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 in the last quarter. Doheny Asset Management CA purchased a new position in Fate Therapeutics during the 2nd quarter worth $263,000. Geode Capital Management LLC increased its position in 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 buying an additional 10,863 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Fate Therapeutics by 40.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 42,289 shares of the biopharmaceutical company's stock valued at $148,000 after acquiring an additional 12,230 shares during the period. Finally, Rhumbline Advisers raised its stake in Fate Therapeutics by 11.0% in the 2nd quarter. Rhumbline Advisers now owns 160,001 shares of the biopharmaceutical company's stock worth $525,000 after acquiring an additional 15,825 shares during the last quarter. 97.54% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, Director Redmile Group, Llc purchased 397,964 shares of the business's stock in a transaction dated Friday, December 20th. The stock was acquired at an average price of $1.68 per share, for a total transaction of $668,579.52. Following the completion of the purchase, the director now directly owns 12,884,277 shares of the company's stock, valued at $21,645,585.36. This trade represents a 3.19 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.00% of the company's stock.
Fate Therapeutics Trading Down 5.3 %
Fate Therapeutics stock traded down $0.07 during midday trading on Thursday, reaching $1.25. 1,681,427 shares of the stock traded hands, compared to its average volume of 3,096,523. Fate Therapeutics, Inc. has a 12-month low of $1.04 and a 12-month high of $8.83. The company has a 50-day simple moving average of $2.08 and a two-hundred day simple moving average of $3.07. The firm has a market cap of $142.36 million, a PE ratio of -0.76 and a beta of 2.02.
Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced its quarterly earnings results 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. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. The firm had revenue of $3.07 million during the quarter, compared to the consensus estimate of $0.88 million. Equities research analysts anticipate that Fate Therapeutics, Inc. will post -1.63 earnings per share for the current year.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Bank of America upgraded Fate Therapeutics from an "underperform" rating to a "neutral" rating in a research note on Monday, November 18th. Wedbush reissued a "neutral" rating and issued a $5.00 price target on shares of Fate Therapeutics in a report on Tuesday, November 12th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Fate Therapeutics in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $6.75.
Check Out Our Latest Research Report on Fate Therapeutics
Fate Therapeutics Profile
(
Free Report)
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.
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