Price T Rowe Associates Inc. MD Reduces Holdings in Fate Therapeutics, Inc. (NASDAQ:FATE)

Price T Rowe Associates Inc. MD decreased its holdings in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) by 41.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 38,049 shares of the biopharmaceutical company’s stock after selling 27,170 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Fate Therapeutics were worth $63,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Fate Therapeutics during the fourth quarter worth about $40,000. FPC Investment Advisory Inc. purchased a new stake in shares of Fate Therapeutics during the fourth quarter worth about $44,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Fate Therapeutics during the fourth quarter worth about $58,000. Intech Investment Management LLC grew its stake in shares of Fate Therapeutics by 27.5% during the fourth quarter. Intech Investment Management LLC now owns 39,443 shares of the biopharmaceutical company’s stock worth $65,000 after acquiring an additional 8,497 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Fate Therapeutics by 30.6% during the fourth quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company’s stock worth $74,000 after acquiring an additional 10,511 shares during the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FATE. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research note on Wednesday, May 14th. Wells Fargo & Company dropped their target price on Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. StockNews.com upgraded Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus dropped their target price 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. Finally, Barclays dropped their target price on Fate Therapeutics from $10.00 to $2.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 14th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Fate Therapeutics presently has a consensus rating of “Hold” and an average target price of $4.14.

Fate Therapeutics Stock Up 5.9%

Shares of NASDAQ FATE opened at $1.07 on Monday. The business’s 50 day moving average price is $1.01 and its 200 day moving average price is $1.50. The firm has a market cap of $122.63 million, a P/E ratio of -0.65 and a beta of 2.32. Fate Therapeutics, Inc. has a 52 week low of $0.66 and a 52 week high of $5.92.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.07. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. The company had revenue of $1.63 million during the quarter, compared to the consensus estimate of $1.18 million. As a group, research analysts expect that Fate Therapeutics, Inc. will post -1.63 earnings per share for the current year.

Fate Therapeutics Company 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.