Bellevue Group AG Lowers Stake in Fate Therapeutics, Inc. (NASDAQ:FATE)

Bellevue Group AG lowered its stake in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) by 0.2% in the first quarter, Holdings Channel reports. The institutional investor owned 4,839,779 shares of the biopharmaceutical company’s stock after selling 11,800 shares during the period. Bellevue Group AG’s holdings in Fate Therapeutics were worth $35,524,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of FATE. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Fate Therapeutics during the 1st quarter valued at $1,109,000. Vestal Point Capital LP purchased a new stake in shares of Fate Therapeutics during the 4th quarter valued at $4,825,000. Superstring Capital Management LP purchased a new stake in shares of Fate Therapeutics during the 4th quarter valued at $3,171,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Fate Therapeutics during the 1st quarter valued at $432,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Fate Therapeutics by 100.9% during the 1st quarter. BNP Paribas Financial Markets now owns 46,962 shares of the biopharmaceutical company’s stock valued at $345,000 after purchasing an additional 23,582 shares during the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FATE shares. BMO Capital Markets decreased their price objective on Fate Therapeutics from $7.00 to $6.00 and set a “market perform” rating for the company in a report on Friday, May 10th. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a report on Thursday, April 11th. Canaccord Genuity Group cut their target price on Fate Therapeutics from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Wedbush reissued a “neutral” rating and issued a $7.00 target price on shares of Fate Therapeutics in a research report on Monday, May 6th. Finally, Piper Sandler raised Fate Therapeutics from a “neutral” rating to an “overweight” rating and upped their target price for the company from $4.00 to $6.00 in a research report on Monday, June 17th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Fate Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $6.75.

Fate Therapeutics Stock Up 0.7 %

Shares of NASDAQ:FATE traded up $0.04 during trading on Friday, reaching $5.44. 1,440,307 shares of the company’s stock traded hands, compared to its average volume of 2,084,541. Fate Therapeutics, Inc. has a fifty-two week low of $1.63 and a fifty-two week high of $8.83. The firm has a market cap of $619.24 million, a PE ratio of -2.83 and a beta of 1.90. The company has a 50-day simple moving average of $3.77 and a 200-day simple moving average of $5.15.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.47) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.47). The firm had revenue of $1.93 million for the quarter, compared to analyst estimates 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 period last year, the company posted ($0.19) EPS. On average, equities research analysts forecast that Fate Therapeutics, Inc. will post -1.9 EPS for the current 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.