Nuveen LLC Purchases Shares of 379,088 Fate Therapeutics, Inc. $FATE

Key Points

• Nuveen LLC has invested approximately $300,000 in Fate Therapeutics, acquiring 379,088 shares, representing about 0.33% of the company's stock.
• Fate Therapeutics recently reported earnings with a loss of ($0.29) per share, which exceeded analyst expectations of ($0.35), alongside a revenue of $1.91 million for the quarter.
• Fate Therapeutics has experienced a significant change in analyst ratings, with upgrades to "hold" and a current average price target of $3.30

Nuveen LLC acquired a new stake in Fate Therapeutics, Inc. (NASDAQ:FATE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 379,088 shares of the biopharmaceutical company's stock, valued at approximately $300,000. Nuveen LLC owned 0.33% of Fate Therapeutics at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in FATE. CWM LLC boosted its position in Fate Therapeutics by 899.6% in the 1st quarter. CWM LLC now owns 41,435 shares of the biopharmaceutical company's stock valued at $33,000 after buying an additional 37,290 shares during the period. Graham Capital Management L.P. purchased a new stake in Fate Therapeutics in the 4th quarter valued at about $37,000. Brevan Howard Capital Management LP purchased a new stake in Fate Therapeutics in the 4th quarter valued at about $41,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Fate Therapeutics in the 4th quarter valued at about $55,000. Finally, ProShare Advisors LLC boosted 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 valued at $56,000 after buying an additional 14,728 shares during the period. 97.54% of the stock is owned by hedge funds and other institutional investors.

Fate Therapeutics Stock Performance

NASDAQ:FATE traded up $0.02 during midday trading on Thursday, reaching $1.02. 1,710,332 shares of the stock traded hands, compared to its average volume of 1,352,100. Fate Therapeutics, Inc. has a 12-month low of $0.66 and a 12-month high of $4.20. The business has a 50-day moving average of $1.10 and a two-hundred day moving average of $1.10. The stock has a market capitalization of $117.64 million, a PE ratio of -0.70 and a beta of 2.21.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.35) by $0.06. Fate Therapeutics had a negative net margin of 2,025.05% and a negative return on equity of 50.95%. The business had revenue of $1.91 million for the quarter, compared to analyst estimates of $1.16 million. Research analysts anticipate that Fate Therapeutics, Inc. will post -1.63 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FATE shares. Robert W. Baird lowered their price target 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Fate Therapeutics in a research report on Thursday, June 12th. Wells Fargo & Company lowered their price target on shares of Fate Therapeutics from $4.00 to $2.50 and set an "equal weight" rating for the company in a research report on Wednesday, August 13th. Wall Street Zen raised shares of Fate Therapeutics from a "sell" rating to a "hold" rating in a research report on Monday, August 18th. Finally, Barclays lowered their price target 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. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $3.30.

About Fate Therapeutics

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.