Northern Trust Corp Raises Position in Fate Therapeutics Inc (FATE)

Northern Trust Corp boosted its holdings in shares of Fate Therapeutics Inc (NASDAQ:FATE) by 14.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 568,272 shares of the biopharmaceutical company’s stock after buying an additional 71,353 shares during the quarter. Northern Trust Corp owned approximately 1.06% of Fate Therapeutics worth $6,444,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in Fate Therapeutics by 13.2% in the second quarter. BlackRock Inc. now owns 3,285,830 shares of the biopharmaceutical company’s stock valued at $37,263,000 after acquiring an additional 382,821 shares in the last quarter. Millennium Management LLC acquired a new stake in Fate Therapeutics in the second quarter valued at approximately $7,770,000. Aquilo Capital Management LLC acquired a new stake in Fate Therapeutics in the second quarter valued at approximately $6,579,000. Bank of New York Mellon Corp boosted its stake in Fate Therapeutics by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 290,529 shares of the biopharmaceutical company’s stock valued at $3,294,000 after acquiring an additional 13,839 shares in the last quarter. Finally, Columbus Circle Investors boosted its stake in Fate Therapeutics by 16.5% in the second quarter. Columbus Circle Investors now owns 259,213 shares of the biopharmaceutical company’s stock valued at $2,939,000 after acquiring an additional 36,655 shares in the last quarter. Institutional investors own 66.97% of the company’s stock.

In related news, Director Redmile Group, Llc acquired 3,703,704 shares of the stock in a transaction dated Tuesday, September 25th. The stock was acquired at an average cost of $13.50 per share, for a total transaction of $50,000,004.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 9.89% of the company’s stock.

NASDAQ:FATE opened at $12.70 on Friday. Fate Therapeutics Inc has a 12 month low of $3.80 and a 12 month high of $16.94. The company has a debt-to-equity ratio of 0.07, a current ratio of 9.44 and a quick ratio of 9.44. The firm has a market cap of $819.39 million, a PE ratio of -12.45 and a beta of 1.95.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.06). Fate Therapeutics had a negative return on equity of 68.57% and a negative net margin of 1,536.05%. The company had revenue of $1.03 million for the quarter, compared to analyst estimates of $1.24 million. During the same quarter in the previous year, the firm posted ($0.26) earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. On average, equities analysts predict that Fate Therapeutics Inc will post -1.21 EPS for the current year.

Several equities research analysts have weighed in on the stock. HC Wainwright restated a “hold” rating and issued a $12.00 target price on shares of Fate Therapeutics in a research note on Tuesday, August 7th. Zacks Investment Research upgraded shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, August 6th. BidaskClub downgraded shares of Fate Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, July 27th. Citigroup assumed coverage on shares of Fate Therapeutics in a research note on Wednesday, August 1st. They issued a “buy” rating and a $20.00 target price for the company. Finally, Wedbush restated an “outperform” rating and issued a $19.00 target price on shares of Fate Therapeutics in a research note on Tuesday, August 7th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $17.25.

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Fate Therapeutics Company Profile

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its immuno-oncology product candidates include FATE-NK100, a natural killer (NK) cell cancer immunotherapy that consists of adaptive memory NK cells; FT500 induced pluripotent stem cells (iPSC)-derived NK cell product candidate for the treatment of advanced solid tumors; FT516 engineered iPSC-derived NK cell product candidate for the treatment of hematologic/solid tumors; and FT819 engineered chimeric antigen receptor 19 iPSC-derived T-cell product candidate for hematologic/solid tumors.

Featured Article: Asset Allocation

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

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