Point72 Asset Management L.P. Has $18.33 Million Stake in Fate Therapeutics Inc (NASDAQ:FATE)

Point72 Asset Management L.P. grew its holdings in shares of Fate Therapeutics Inc (NASDAQ:FATE) by 98.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,180,089 shares of the biopharmaceutical company’s stock after acquiring an additional 586,589 shares during the quarter. Point72 Asset Management L.P.’s holdings in Fate Therapeutics were worth $18,327,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FATE. Victory Capital Management Inc. grew its position in shares of Fate Therapeutics by 48.3% during the 2nd quarter. Victory Capital Management Inc. now owns 2,927,930 shares of the biopharmaceutical company’s stock valued at $59,437,000 after acquiring an additional 953,756 shares during the period. State Street Corp raised its holdings in shares of Fate Therapeutics by 11.6% during the third quarter. State Street Corp now owns 2,710,736 shares of the biopharmaceutical company’s stock valued at $42,098,000 after purchasing an additional 282,710 shares during the period. Pictet Asset Management Ltd. increased its position in shares of Fate Therapeutics by 224.6% during the third quarter. Pictet Asset Management Ltd. now owns 1,121,118 shares of the biopharmaceutical company’s stock worth $17,411,000 after acquiring an additional 775,700 shares in the last quarter. Nikko Asset Management Americas Inc. increased its position in shares of Fate Therapeutics by 65.2% during the third quarter. Nikko Asset Management Americas Inc. now owns 840,430 shares of the biopharmaceutical company’s stock worth $13,052,000 after acquiring an additional 331,589 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Fate Therapeutics by 65.2% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 840,430 shares of the biopharmaceutical company’s stock worth $13,052,000 after acquiring an additional 331,589 shares in the last quarter. 97.60% of the stock is owned by hedge funds and other institutional investors.

FATE has been the subject of a number of recent analyst reports. BMO Capital Markets set a $27.00 price objective on shares of Fate Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, August 7th. BidaskClub downgraded shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 28th. BTIG Research initiated coverage on shares of Fate Therapeutics in a research report on Friday, August 9th. They issued a “buy” rating and a $27.00 price objective for the company. Wedbush upped their price objective on shares of Fate Therapeutics from $21.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Mizuho downgraded shares of Fate Therapeutics to a “buy” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $24.47.

Fate Therapeutics stock opened at $15.62 on Friday. Fate Therapeutics Inc has a twelve month low of $11.00 and a twelve month high of $22.82. The firm has a 50 day moving average price of $14.67 and a 200-day moving average price of $17.74. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.53 and a quick ratio of 7.53.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.02). Fate Therapeutics had a negative net margin of 900.24% and a negative return on equity of 48.94%. The company had revenue of $2.43 million for the quarter, compared to the consensus estimate of $1.75 million. During the same period in the prior year, the company earned ($0.31) earnings per share. The firm’s revenue was up 136.7% on a year-over-year basis. On average, research analysts predict that Fate Therapeutics Inc will post -1.46 EPS for the current fiscal year.

In other Fate Therapeutics news, Director Redmile Group, Llc purchased 857,143 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were bought at an average cost of $17.50 per share, for a total transaction of $15,000,002.50. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO J Scott Wolchko sold 21,017 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $14.44, for a total transaction of $303,485.48. The disclosure for this sale can be found here. Insiders have sold a total of 37,417 shares of company stock valued at $536,649 over the last three months. Insiders own 23.19% of the company’s stock.

About Fate Therapeutics

Fate Therapeutics, Inc operates as a biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorder. The firm programme cellular therapeutics for the treatment of life threatening diseases, hematologic malignancies, genetic disorders and diseases resulting from the dysregulation of the immune system.

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Institutional Ownership by Quarter for Fate Therapeutics (NASDAQ:FATE)

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