Vestal Point Capital LP Has $4.07 Million Holdings in Fate Therapeutics, Inc. (NASDAQ:FATE)

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

Other hedge funds have also recently bought and sold shares of the company. Graham Capital Management L.P. bought a new position in shares of Fate Therapeutics during the 4th quarter worth about $37,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Fate Therapeutics during the 4th quarter worth about $40,000. Brevan Howard Capital Management LP bought a new position in shares of Fate Therapeutics during the 4th quarter worth about $41,000. FPC Investment Advisory Inc. bought a new position in shares of Fate Therapeutics during the 4th quarter worth about $44,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Fate Therapeutics during the 4th quarter worth about $55,000. 97.54% of the stock is owned by institutional investors.

Fate Therapeutics Trading Down 6.4%

Shares of Fate Therapeutics stock traded down $0.08 during mid-day trading on Wednesday, reaching $1.17. 1,548,104 shares of the stock were exchanged, compared to its average volume of 2,241,209. The company has a market cap of $134.09 million, a price-to-earnings ratio of -0.71 and a beta of 2.32. The firm has a 50-day simple moving average of $1.03 and a 200 day simple moving average of $1.49. Fate Therapeutics, Inc. has a fifty-two week low of $0.66 and a fifty-two week high of $5.92.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on FATE shares. Wedbush reaffirmed a "neutral" rating and set a $5.00 price objective on shares of Fate Therapeutics in a report on Thursday, March 6th. 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 report on Wednesday, May 14th. 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 report on Thursday, March 6th. Stifel Nicolaus dropped their target price 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. Finally, Robert W. Baird dropped their target price 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. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $4.14.

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.