Bank of America Corp DE grew its stake in Fate Therapeutics Inc (NASDAQ:FATE) by 245.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,911 shares of the biopharmaceutical company’s stock after purchasing an additional 25,511 shares during the quarter. Bank of America Corp DE owned approximately 0.07% of Fate Therapeutics worth $407,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Columbus Circle Investors raised its holdings in Fate Therapeutics by 16.5% in the 2nd 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. First Mercantile Trust Co. raised its holdings in Fate Therapeutics by 113.7% in the 2nd quarter. First Mercantile Trust Co. now owns 12,899 shares of the biopharmaceutical company’s stock valued at $146,000 after acquiring an additional 6,863 shares in the last quarter. Alps Advisors Inc. acquired a new position in shares of Fate Therapeutics during the 2nd quarter worth $870,000. State of Wisconsin Investment Board raised its holdings in shares of Fate Therapeutics by 68.7% during the 2nd quarter. State of Wisconsin Investment Board now owns 50,600 shares of the biopharmaceutical company’s stock worth $574,000 after buying an additional 20,600 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of Fate Therapeutics during the 2nd quarter worth $206,000. Institutional investors and hedge funds own 73.92% of the company’s stock.
A number of equities analysts have recently commented on FATE shares. BidaskClub raised Fate Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, August 10th. Citigroup started coverage on Fate Therapeutics in a report on Wednesday, August 1st. They set a “buy” rating and a $20.00 price target for the company. Jefferies Financial Group started coverage on Fate Therapeutics in a report on Monday, November 5th. They set a “buy” rating and a $17.00 price target for the company. Zacks Investment Research raised Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, September 21st. Finally, HC Wainwright reissued a “hold” rating and set a $12.00 price target on shares of Fate Therapeutics in a report 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 issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $17.25.
Fate Therapeutics stock opened at $12.48 on Friday. The company has a quick ratio of 9.44, a current ratio of 9.44 and a debt-to-equity ratio of 0.07. Fate Therapeutics Inc has a 52 week low of $3.80 and a 52 week high of $16.94. The firm has a market cap of $804.55 million, a PE ratio of -12.24 and a beta of 1.95.
Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.06). The firm had revenue of $1.03 million for the quarter, compared to the consensus estimate of $1.24 million. Fate Therapeutics had a negative return on equity of 68.57% and a negative net margin of 1,536.05%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.26) EPS. As a group, research analysts forecast that Fate Therapeutics Inc will post -1.21 EPS 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. 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.
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