Bank of America Corp DE Has $502,000 Stock Position in Fate Therapeutics, Inc. (NASDAQ:FATE)

Bank of America Corp DE trimmed its stake in Fate Therapeutics, Inc. (NASDAQ:FATE - Free Report) by 64.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 304,129 shares of the biopharmaceutical company's stock after selling 550,066 shares during the period. Bank of America Corp DE owned about 0.27% of Fate Therapeutics worth $502,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. FPC Investment Advisory Inc. bought a new stake in Fate Therapeutics during the 4th quarter worth about $44,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Fate Therapeutics during the fourth quarter valued at $58,000. Intech Investment Management LLC increased its position in Fate Therapeutics by 27.5% in the fourth 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. SG Americas Securities LLC lifted its position in Fate Therapeutics by 30.6% during the 4th quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company's stock valued at $74,000 after purchasing an additional 10,511 shares during the period. Finally, Dark Forest Capital Management LP lifted its position in Fate Therapeutics by 128.0% during the 4th quarter. Dark Forest Capital Management LP now owns 61,220 shares of the biopharmaceutical company's stock valued at $101,000 after purchasing an additional 34,371 shares during the period. 97.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Fate Therapeutics from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Stifel Nicolaus cut their target price on Fate Therapeutics from $5.00 to $3.00 and set a "hold" rating on the stock in a research note on Thursday, March 6th. Barclays cut their target price on Fate Therapeutics from $10.00 to $2.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 14th. Robert W. Baird lowered their price objective on shares of Fate Therapeutics from $5.00 to $4.00 and set a "neutral" rating for the company in a research report on Wednesday, May 14th. Finally, Wedbush restated a "neutral" rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $4.14.

Fate Therapeutics Price Performance

Shares of Fate Therapeutics stock traded down $0.13 during trading hours on Friday, hitting $1.28. The company's stock had a trading volume of 2,427,036 shares, compared to its average volume of 2,253,089. Fate Therapeutics, Inc. has a 12 month low of $0.66 and a 12 month high of $5.92. The stock has a 50 day moving average of $1.20 and a 200 day moving average of $1.37. The company has a market capitalization of $146.12 million, a PE ratio of -0.77 and a beta of 2.23.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced its 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 business had revenue of $1.63 million for the quarter, compared to analyst estimates of $1.18 million. Equities analysts expect that Fate Therapeutics, Inc. will post -1.63 EPS for the current year.

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.