Eagle Asset Management Inc. decreased its position in Fate Therapeutics, Inc. (NASDAQ:FATE) by 5.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 272,766 shares of the biopharmaceutical company’s stock after selling 14,529 shares during the quarter. Eagle Asset Management Inc.’s holdings in Fate Therapeutics were worth $23,673,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of FATE. Dimensional Fund Advisors LP bought a new stake in shares of Fate Therapeutics in the 4th quarter worth about $2,942,000. US Bancorp DE grew its holdings in shares of Fate Therapeutics by 353.9% in the 1st quarter. US Bancorp DE now owns 522 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 407 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Fate Therapeutics by 48.1% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,158 shares of the biopharmaceutical company’s stock worth $590,000 after purchasing an additional 2,325 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Fate Therapeutics by 30.2% in the 1st quarter. Alliancebernstein L.P. now owns 129,170 shares of the biopharmaceutical company’s stock worth $10,650,000 after purchasing an additional 29,970 shares during the last quarter. Finally, Blueshift Asset Management LLC bought a new stake in shares of Fate Therapeutics in the 1st quarter worth about $388,000. 98.36% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO J Scott Wolchko sold 20,000 shares of Fate Therapeutics stock in a transaction that occurred on Thursday, August 19th. The stock was sold at an average price of $88.01, for a total value of $1,760,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Edward J. Dulac III sold 3,474 shares of Fate Therapeutics stock in a transaction that occurred on Thursday, August 19th. The stock was sold at an average price of $88.26, for a total value of $306,615.24. Following the completion of the transaction, the chief financial officer now directly owns 56,076 shares in the company, valued at $4,949,267.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,474 shares of company stock worth $4,648,315. Company insiders own 18.58% of the company’s stock.
Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Wednesday, August 4th. The biopharmaceutical company reported ($0.58) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.52) by ($0.06). Fate Therapeutics had a negative return on equity of 27.96% and a negative net margin of 441.63%. The company had revenue of $13.41 million during the quarter, compared to the consensus estimate of $6.90 million. During the same quarter in the previous year, the business posted ($0.35) EPS. The firm’s revenue for the quarter was up 145.4% on a year-over-year basis. As a group, equities analysts predict that Fate Therapeutics, Inc. will post -2.24 EPS for the current fiscal year.
Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $116.00 target price on shares of Fate Therapeutics in a report on Friday, July 9th. SVB Leerink cut their target price on shares of Fate Therapeutics from $120.00 to $118.00 and set an “outperform” rating on the stock in a research report on Thursday, August 5th. HC Wainwright restated a “buy” rating and set a $121.00 target price on shares of Fate Therapeutics in a research report on Monday, August 23rd. Finally, Morgan Stanley started coverage on shares of Fate Therapeutics in a research report on Thursday, August 26th. They issued an “equal weight” rating and a $77.00 price target on the stock. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $109.00.
Fate Therapeutics Company Profile
Fate Therapeutics, Inc engages in the development of programmed cellular immunotherapies for cancer and immune disorder. Its pipeline of products includes immuno-ocology candidates and immuno-regulation candidates. The company was founded by Philip Beachy, Sheng Ding, Rudolf Jaenisch, Randall T. Moon, Michael Rudnicki, David Scadden, Leonard Zon, Alexander Rives, Scott Wolchko, and John D.
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