1,165,927 Fate Therapeutics, Inc. $FATE Shares Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Fate Therapeutics stake by 799.5%, buying 1,165,927 additional shares to own 1.31 million shares valued at approximately $3.1 million. Institutional investors collectively own 97.54% of the company.
• Analyst views remain mixed: Wells Fargo maintained an “equal weight” rating, while Wedbush and Piper Sandler reiterated positive ratings. The stock has an overall “Hold” consensus and an average price target of $5.90.
• Fate Therapeutics shares opened at $2.07, with a 52-week range of $0.95 to $3.23. The clinical-stage biotech reported a quarterly loss of $0.25 per share and $2.08 million in revenue, while analysts forecast a full-year loss of $1.03 per share.

Assenagon Asset Management S.A. lifted its position in shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Free Report) by 799.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,311,765 shares of the biopharmaceutical company's stock after purchasing an additional 1,165,927 shares during the period. Assenagon Asset Management S.A. owned about 1.09% of Fate Therapeutics worth $3,109,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in FATE. Callan Family Office LLC purchased a new position in Fate Therapeutics in the second quarter valued at about $29,000. Bank of New York Mellon Corp purchased a new position in shares of Fate Therapeutics during the 2nd quarter valued at approximately $31,000. HB Wealth Management LLC purchased a new position in shares of Fate Therapeutics during the 2nd quarter valued at approximately $31,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Fate Therapeutics during the second quarter worth approximately $32,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Fate Therapeutics during the second quarter worth approximately $35,000. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FATE shares. Wells Fargo & Company lifted their price target on shares of Fate Therapeutics from $2.50 to $3.50 and gave the stock an "equal weight" rating in a research note on Friday, August 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of Fate Therapeutics in a report on Friday, August 7th. Wedbush restated an "outperform" rating and set a $7.00 price objective on shares of Fate Therapeutics in a research note on Friday, August 14th. Finally, Piper Sandler restated an "overweight" rating and set a $8.00 price objective (up from $6.00) on shares of Fate Therapeutics in a research note on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $5.90.

Fate Therapeutics Stock Up 0.5%

Shares of NASDAQ:FATE opened at $2.07 on Thursday. The company has a market cap of $248.03 million, a PE ratio of -1.97 and a beta of 2.52. Fate Therapeutics, Inc. has a fifty-two week low of $0.95 and a fifty-two week high of $3.23. The firm has a 50-day simple moving average of $2.35 and a 200 day simple moving average of $2.23.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last issued its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.25). Fate Therapeutics had a negative net margin of 1,941.09% and a negative return on equity of 65.08%. The firm had revenue of $2.08 million for the quarter, compared to analysts' expectations of $1.94 million. As a group, research analysts forecast that Fate Therapeutics, Inc. will post -1.03 EPS for the current fiscal year.

Fate Therapeutics Profile

Fate Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing cellular immunotherapies for cancer and other serious diseases. The company uses its induced pluripotent stem cell (iPSC) platform to create standardized, “off-the-shelf” immune cells that can be manufactured in advance and administered to multiple patients.

Its research and development programs include iPSC-derived natural killer (NK) cells and T cells, including genetically engineered cells designed to recognize and attack specific cancer targets.

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