Dimensional Fund Advisors LP Takes $2.94 Million Position in Fate Therapeutics, Inc. (NASDAQ:FATE)

Dimensional Fund Advisors LP bought a new stake in Fate Therapeutics, Inc. (NASDAQ:FATE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 32,358 shares of the biopharmaceutical company’s stock, valued at approximately $2,942,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Doheny Asset Management CA raised its stake in Fate Therapeutics by 2.3% in the fourth quarter. Doheny Asset Management CA now owns 7,850 shares of the biopharmaceutical company’s stock valued at $714,000 after purchasing an additional 180 shares in the last quarter. AdvisorNet Financial Inc raised its stake in Fate Therapeutics by 83.9% in the fourth quarter. AdvisorNet Financial Inc now owns 570 shares of the biopharmaceutical company’s stock valued at $52,000 after purchasing an additional 260 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in Fate Therapeutics by 1.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 30,798 shares of the biopharmaceutical company’s stock valued at $2,800,000 after purchasing an additional 340 shares in the last quarter. First Mercantile Trust Co. purchased a new stake in Fate Therapeutics in the fourth quarter valued at approximately $81,000. Finally, American International Group Inc. raised its stake in Fate Therapeutics by 2.7% in the fourth quarter. American International Group Inc. now owns 43,998 shares of the biopharmaceutical company’s stock valued at $4,001,000 after purchasing an additional 1,163 shares in the last quarter. 98.90% of the stock is currently owned by institutional investors and hedge funds.

FATE stock opened at $88.42 on Friday. The company has a market cap of $8.31 billion, a P/E ratio of -41.71 and a beta of 1.67. Fate Therapeutics, Inc. has a 1-year low of $29.30 and a 1-year high of $121.16. The business has a 50 day simple moving average of $79.25.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Wednesday, May 5th. The biopharmaceutical company reported ($0.48) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.06). Fate Therapeutics had a negative net margin of 461.69% and a negative return on equity of 26.48%. The company had revenue of $11.14 million for the quarter, compared to analysts’ expectations of $7.07 million. On average, sell-side analysts expect that Fate Therapeutics, Inc. will post -2.08 EPS for the current fiscal year.

In related news, VP Yu-Waye Chu sold 3,275 shares of the stock in a transaction on Friday, April 16th. The stock was sold at an average price of $83.30, for a total transaction of $272,807.50. Following the sale, the vice president now owns 67,200 shares in the company, valued at approximately $5,597,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO J Scott Wolchko sold 30,000 shares of the stock in a transaction on Friday, April 23rd. The shares were sold at an average price of $85.24, for a total value of $2,557,200.00. Following the sale, the chief executive officer now owns 423,793 shares in the company, valued at approximately $36,124,115.32. The disclosure for this sale can be found here. Insiders have sold a total of 88,275 shares of company stock worth $7,653,058 in the last 90 days. 21.41% of the stock is currently owned by insiders.

FATE has been the topic of several research reports. SVB Leerink lifted their price target on shares of Fate Therapeutics from $58.00 to $121.00 and gave the stock an “outperform” rating in a research note on Friday, March 12th. Piper Sandler lifted their price target on shares of Fate Therapeutics from $99.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 17th. Bank of America started coverage on shares of Fate Therapeutics in a research note on Friday, February 26th. They set a “buy” rating and a $115.00 price target on the stock. Zacks Investment Research raised shares of Fate Therapeutics from a “sell” rating to a “hold” rating and set a $108.00 target price on the stock in a research note on Friday, February 12th. Finally, Truist lifted their target price on shares of Fate Therapeutics from $85.00 to $135.00 in a research note on Friday, February 26th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $111.00.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its NK- and T-cell immuno-oncology programs under development include FT516 for the treatment of acute myeloid leukemia (AML) B-cell lymphoma, and advanced solid tumor; FT596 to treat B-cell lymphoma and chronic lymphocytic leukemia; FT538 to treat AML and multiple myeloma; FT576 to treat multiple myeloma; FT819 to treat hematologic malignancies and solid tumors; FT536 to treat solid tumors; and FT500 for the treatment of advanced solid tumors, as well as ProTmune for the treatment of hematologic malignancies and rare genetic disorders.

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

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