Vestal Point Capital LP Buys 780,000 Shares of Fate Therapeutics, Inc. (NASDAQ:FATE)

Vestal Point Capital LP boosted its position in shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Free Report) by 46.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,465,000 shares of the biopharmaceutical company's stock after purchasing an additional 780,000 shares during the quarter. Vestal Point Capital LP owned 2.16% of Fate Therapeutics worth $4,067,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Baker BROS. Advisors LP boosted its holdings in shares of Fate Therapeutics by 8.7% in the fourth quarter. Baker BROS. Advisors LP now owns 3,258,402 shares of the biopharmaceutical company's stock valued at $5,376,000 after buying an additional 260,630 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Fate Therapeutics by 10.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,898,377 shares of the biopharmaceutical company's stock valued at $4,782,000 after buying an additional 279,360 shares during the period. Tang Capital Management LLC boosted its holdings in shares of Fate Therapeutics by 165.1% in the fourth quarter. Tang Capital Management LLC now owns 1,855,954 shares of the biopharmaceutical company's stock valued at $3,062,000 after buying an additional 1,155,954 shares during the period. Walleye Capital LLC boosted its holdings in shares of Fate Therapeutics by 1,502.0% in the fourth quarter. Walleye Capital LLC now owns 1,083,092 shares of the biopharmaceutical company's stock valued at $1,787,000 after buying an additional 1,015,483 shares during the period. Finally, Cerity Partners LLC boosted its holdings in shares of Fate Therapeutics by 4,953.6% in the fourth quarter. Cerity Partners LLC now owns 823,134 shares of the biopharmaceutical company's stock valued at $1,358,000 after buying an additional 806,846 shares during the period. Institutional investors and hedge funds own 97.54% of the company's stock.

Fate Therapeutics Price Performance

NASDAQ FATE traded down $0.04 on Friday, hitting $1.16. 788,583 shares of the stock were exchanged, compared to its average volume of 2,233,661. The business's fifty day moving average is $1.04 and its 200 day moving average is $1.47. Fate Therapeutics, Inc. has a 52 week low of $0.66 and a 52 week high of $5.92. The company has a market capitalization of $132.94 million, a PE ratio of -0.70 and a beta of 2.32.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.07. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. The firm had revenue of $1.63 million for the quarter, compared to analyst estimates of $1.18 million. Analysts predict that Fate Therapeutics, Inc. will post -1.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FATE has been the subject of several research analyst reports. Wedbush reiterated a "neutral" rating and issued a $5.00 price target on shares of Fate Therapeutics in a report on Thursday, March 6th. Wells Fargo & Company reduced their price target on shares of Fate Therapeutics from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Thursday, March 6th. Wall Street Zen upgraded shares of Fate Therapeutics from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Needham & Company LLC reissued a "hold" rating on shares of Fate Therapeutics in a research report on Wednesday, May 14th. Finally, Stifel Nicolaus cut their price objective on shares of Fate Therapeutics from $5.00 to $3.00 and set a "hold" rating on the stock in a research report on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Fate Therapeutics has a consensus rating of "Hold" and a consensus target price of $4.14.

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.