LPL Financial LLC Makes New $121,000 Investment in Fate Therapeutics, Inc. (NASDAQ:FATE)

LPL Financial LLC purchased a new stake in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) in the 4th quarter, Holdings Channel reports. The fund purchased 73,120 shares of the biopharmaceutical company’s stock, valued at approximately $121,000.

Several other institutional investors have also recently made changes to their positions in the business. American Century Companies Inc. increased its holdings in Fate Therapeutics by 6.6% during the fourth quarter. American Century Companies Inc. now owns 197,704 shares of the biopharmaceutical company’s stock valued at $326,000 after buying an additional 12,295 shares during the last quarter. Privium Fund Management B.V. increased its stake in shares of Fate Therapeutics by 74.0% in the 4th quarter. Privium Fund Management B.V. now owns 87,000 shares of the biopharmaceutical company’s stock worth $144,000 after purchasing an additional 37,000 shares in the last quarter. Intech Investment Management LLC raised its holdings in Fate Therapeutics by 27.5% in the 4th quarter. Intech Investment Management LLC now owns 39,443 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 8,497 shares during the period. Monaco Asset Management SAM raised its holdings in Fate Therapeutics by 138.0% in the 4th quarter. Monaco Asset Management SAM now owns 327,671 shares of the biopharmaceutical company’s stock worth $541,000 after purchasing an additional 190,000 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in Fate Therapeutics during the fourth quarter valued at $58,000. Institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Price Performance

Shares of NASDAQ FATE opened at $1.28 on Thursday. The stock has a market capitalization of $146.69 million, a P/E ratio of -0.78 and a beta of 2.41. Fate Therapeutics, Inc. has a 1-year low of $0.66 and a 1-year high of $5.92. The business’s 50 day moving average is $1.01 and its two-hundred day moving average is $1.67.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.13. The company had revenue of $1.86 million for the quarter, compared to analyst estimates of $1.57 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. As a group, equities research analysts anticipate that Fate Therapeutics, Inc. will post -1.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FATE has been the topic of a number of analyst reports. Stifel Nicolaus lowered their price objective on Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating on the stock in a research report on Thursday, March 6th. Wedbush reiterated a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a research report on Thursday, March 6th. StockNews.com downgraded shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, March 11th. Wells Fargo & Company dropped their target price on shares of Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a report on Thursday, March 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Fate Therapeutics currently has a consensus rating of “Hold” and an average target price of $5.43.

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.