BlackRock Inc. Makes New Investment in Fate Therapeutics, Inc. $FATE

Key Points

• BlackRock acquired 7.3 million Fate Therapeutics shares worth approximately $19.7 million, giving it a 6.26% stake. Institutional investors collectively own 97.54% of the company.
• Fate Therapeutics reported a quarterly loss of $0.25 per share, in line with analyst estimates, while revenue of $2.08 million exceeded forecasts. Analysts expect a full-year loss of $1.06 per share.
• The stock recently traded at $2.45, with an average analyst rating of “Hold” and an average price target of $5.90; individual analyst targets range from $4 to $8.

BlackRock Inc. acquired a new position in shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,298,895 shares of the biopharmaceutical company's stock, valued at approximately $19,707,000. BlackRock Inc. owned approximately 6.26% of Fate Therapeutics as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bank of New York Mellon Corp purchased a new position in Fate Therapeutics in the second quarter valued at approximately $31,000. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Fate Therapeutics during the 2nd quarter worth approximately $32,000. Deutsche Bank AG acquired a new position in shares of Fate Therapeutics in the 2nd quarter valued at $41,000. Pallas Capital Advisors LLC acquired a new position in shares of Fate Therapeutics in the 2nd quarter valued at $56,000. Finally, Bridgeway Capital Management LLC purchased a new position in shares of Fate Therapeutics in the 2nd quarter valued at $28,000. Institutional investors and hedge funds own 97.54% of the company's stock.

Fate Therapeutics Trading Up 0.8%

Fate Therapeutics stock opened at $2.45 on Thursday. The stock has a 50 day moving average of $2.63 and a two-hundred day moving average of $1.99. Fate Therapeutics, Inc. has a twelve month low of $0.93 and a twelve month high of $3.23. The stock has a market capitalization of $293.56 million, a price-to-earnings ratio of -2.33 and a beta of 2.54.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last released its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.25). Fate Therapeutics had a negative return on equity of 65.08% and a negative net margin of 1,941.09%.The business had revenue of $2.08 million for the quarter, compared to analyst estimates of $1.94 million. Equities analysts predict that Fate Therapeutics, Inc. will post -1.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FATE has been the topic of several research analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Fate Therapeutics in a research note on Friday, August 7th. Jefferies Financial Group set a $4.00 price objective on Fate Therapeutics in a report on Tuesday, May 19th. Wedbush reiterated an "outperform" rating and set a $7.00 target price on shares of Fate Therapeutics in a research report on Friday, August 14th. HC Wainwright reissued a "buy" rating and issued a $7.00 target price on shares of Fate Therapeutics in a report on Monday, June 8th. Finally, Piper Sandler reissued an "overweight" rating and issued a $8.00 target price (up from $6.00) on shares of Fate Therapeutics in a research report on Friday, August 14th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Fate Therapeutics currently has an average rating of "Hold" and an average target price of $5.90.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development of first‐in‐class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off‐the‐shelf natural killer (NK) and T‐cell products designed to overcome limitations of donor‐derived approaches. Fate's research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.

Central to Fate's pipeline are multiple iPSC‐derived cell therapy candidates in active clinical development.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source