Bellevue Group AG Sells 11,800 Shares of Fate Therapeutics, Inc. (NASDAQ:FATE)

Bellevue Group AG lessened its stake in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) by 0.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,839,779 shares of the biopharmaceutical company’s stock after selling 11,800 shares during the period. Bellevue Group AG owned 4.25% of Fate Therapeutics worth $35,524,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the business. RPO LLC purchased a new position in shares of Fate Therapeutics during the fourth quarter worth approximately $46,000. Victory Capital Management Inc. lifted its position in Fate Therapeutics by 22.8% during the fourth quarter. Victory Capital Management Inc. now owns 12,504 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 2,322 shares during the period. Nisa Investment Advisors LLC lifted its position in Fate Therapeutics by 1,069.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 16,840 shares of the biopharmaceutical company’s stock valued at $63,000 after purchasing an additional 15,400 shares during the period. Simplicity Wealth LLC purchased a new position in Fate Therapeutics in the first quarter valued at $81,000. Finally, Cerity Partners LLC purchased a new position in Fate Therapeutics in the fourth quarter valued at $120,000. Institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Stock Up 0.7 %

Shares of NASDAQ:FATE traded up $0.04 on Friday, reaching $5.44. 1,440,307 shares of the company’s stock were exchanged, compared to its average volume of 2,084,541. The firm has a market capitalization of $619.24 million, a price-to-earnings ratio of -2.83 and a beta of 1.90. Fate Therapeutics, Inc. has a fifty-two week low of $1.63 and a fifty-two week high of $8.83. The business’s 50-day moving average is $3.77 and its two-hundred day moving average is $5.15.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.47) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.47). The business had revenue of $1.93 million for the quarter, compared to analysts’ expectations of $0.80 million. Fate Therapeutics had a negative net margin of 2,933.79% and a negative return on equity of 46.49%. During the same quarter last year, the company earned ($0.19) EPS. Analysts predict that Fate Therapeutics, Inc. will post -1.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FATE has been the subject of several research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research note on Thursday, April 11th. StockNews.com downgraded shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. BMO Capital Markets dropped their target price on shares of Fate Therapeutics from $7.00 to $6.00 and set a “market perform” rating on the stock in a research report on Friday, May 10th. HC Wainwright dropped their target price on shares of Fate Therapeutics from $7.00 to $5.00 and set a “neutral” rating on the stock in a research report on Thursday, May 16th. Finally, Piper Sandler upgraded shares of Fate Therapeutics from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $4.00 to $6.00 in a research note on Monday, June 17th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.75.

Fate Therapeutics Profile

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.