Vestal Point Capital LP Sells 315,000 Shares of Fate Therapeutics, Inc. (NASDAQ:FATE)

Vestal Point Capital LP cut its holdings in Fate Therapeutics, Inc. (NASDAQ:FATE - Free Report) by 15.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,685,000 shares of the biopharmaceutical company's stock after selling 315,000 shares during the quarter. Vestal Point Capital LP owned about 1.48% of Fate Therapeutics worth $5,898,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Deerfield Management Company L.P. Series C boosted its holdings in shares of Fate Therapeutics by 62.3% in 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 buying an additional 1,365,463 shares during the period. Dimensional Fund Advisors LP boosted its stake in 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 worth $6,987,000 after purchasing an additional 1,067,101 shares during the period. Integral Health Asset Management LLC boosted its stake in Fate Therapeutics by 325.0% in the 2nd quarter. Integral Health Asset Management LLC now owns 850,000 shares of the biopharmaceutical company's stock worth $2,788,000 after purchasing an additional 650,000 shares during the period. Vanguard Group Inc. increased its holdings in Fate Therapeutics by 6.6% during the 1st 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. Finally, Renaissance Technologies LLC acquired a new stake in shares of Fate Therapeutics in the 2nd quarter valued at about $1,799,000. 97.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. HC Wainwright reiterated a "neutral" rating and set a $5.00 price objective on shares of Fate Therapeutics in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Fate Therapeutics in a research report on Tuesday, November 19th. Bank of America upgraded shares of Fate Therapeutics from an "underperform" rating to a "neutral" rating in a report on Monday, November 18th. Finally, Wedbush restated a "neutral" rating and set a $5.00 target price on shares of Fate Therapeutics in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $6.75.

Fate Therapeutics Price Performance

FATE stock remained flat at $3.17 during trading hours on Friday. 2,469,488 shares of the company's stock were exchanged, compared to its average volume of 2,356,378. The company's fifty day moving average is $2.87 and its 200-day moving average is $3.50. Fate Therapeutics, Inc. has a 12-month low of $1.96 and a 12-month high of $8.83. The company has a market capitalization of $361.03 million, a PE ratio of -2.05 and a beta of 1.88.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last issued its 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 net margin of 1,325.43% and a negative return on equity of 45.88%. The company had revenue of $3.07 million for the quarter, compared to analysts' expectations of $0.88 million. As a group, sell-side analysts predict that Fate Therapeutics, Inc. will post -1.72 earnings per share 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.