Tang Capital Management LLC Boosts Stock Position in Fate Therapeutics, Inc. (NASDAQ:FATE)

Tang Capital Management LLC increased its stake in shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Free Report) by 165.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,855,954 shares of the biopharmaceutical company's stock after buying an additional 1,155,954 shares during the quarter. Tang Capital Management LLC owned 1.63% of Fate Therapeutics worth $3,062,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Intech Investment Management LLC boosted its holdings in Fate Therapeutics by 27.5% during the 4th quarter. Intech Investment Management LLC now owns 39,443 shares of the biopharmaceutical company's stock worth $65,000 after acquiring an additional 8,497 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Fate Therapeutics by 30.6% in the 4th quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company's stock worth $74,000 after acquiring an additional 10,511 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Fate Therapeutics by 6.6% in the 4th quarter. American Century Companies Inc. now owns 197,704 shares of the biopharmaceutical company's stock worth $326,000 after acquiring an additional 12,295 shares in the last quarter. Franklin Resources Inc. grew its position in Fate Therapeutics by 9.6% in the 4th quarter. Franklin Resources Inc. now owns 165,353 shares of the biopharmaceutical company's stock worth $273,000 after purchasing an additional 14,532 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in Fate Therapeutics by 77.9% in the 4th quarter. ProShare Advisors LLC now owns 33,645 shares of the biopharmaceutical company's stock worth $56,000 after purchasing an additional 14,728 shares in the last quarter. 97.54% of the stock is owned by hedge funds and other institutional investors.

Fate Therapeutics Price Performance

Shares of FATE traded down $0.08 during mid-day trading on Wednesday, hitting $1.17. The stock had a trading volume of 1,548,104 shares, compared to its average volume of 2,241,209. Fate Therapeutics, Inc. has a 52 week low of $0.66 and a 52 week high of $5.92. The business has a fifty day moving average price of $1.02 and a 200-day moving average price of $1.49. The firm has a market cap of $134.09 million, a P/E ratio of -0.71 and a beta of 2.32.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $1.63 million for the quarter, compared to analysts' expectations of $1.18 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. As a group, research analysts expect that Fate Therapeutics, Inc. will post -1.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FATE shares. Stifel Nicolaus reduced their price objective on shares of Fate Therapeutics from $5.00 to $3.00 and set a "hold" rating for the company in a research report on Thursday, March 6th. Wedbush reaffirmed a "neutral" rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research report on Thursday, March 6th. StockNews.com raised shares of Fate Therapeutics from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Barclays reduced their price objective on shares of Fate Therapeutics from $10.00 to $2.00 and set an "overweight" rating for the company in a research report on Wednesday, May 14th. Finally, Wells Fargo & Company reduced their price objective on shares of Fate Therapeutics from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $4.14.

Fate Therapeutics Company 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.