Assenagon Asset Management S.A. Sells 217,640 Shares of Fate Therapeutics, Inc. (NASDAQ:FATE)

Assenagon Asset Management S.A. reduced its position in shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Free Report) by 57.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 163,097 shares of the biopharmaceutical company's stock after selling 217,640 shares during the period. Assenagon Asset Management S.A. owned approximately 0.17% of Fate Therapeutics worth $610,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in FATE. State Street Corp grew its position in shares of Fate Therapeutics by 149.9% during the 1st quarter. State Street Corp now owns 14,830,084 shares of the biopharmaceutical company's stock worth $84,531,000 after purchasing an additional 8,894,625 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Fate Therapeutics by 347.1% in the fourth quarter. Millennium Management LLC now owns 2,864,476 shares of the biopharmaceutical company's stock valued at $28,903,000 after buying an additional 2,223,752 shares during the period. BlackRock Inc. grew its position in Fate Therapeutics by 18.0% during the first quarter. BlackRock Inc. now owns 11,476,243 shares of the biopharmaceutical company's stock worth $65,415,000 after buying an additional 1,750,019 shares in the last quarter. Bank of America Corp DE increased its stake in Fate Therapeutics by 350.9% during the 1st quarter. Bank of America Corp DE now owns 2,154,529 shares of the biopharmaceutical company's stock worth $12,281,000 after acquiring an additional 1,676,652 shares during the period. Finally, Two Sigma Investments LP raised its holdings in Fate Therapeutics by 695.4% in the 4th quarter. Two Sigma Investments LP now owns 1,503,750 shares of the biopharmaceutical company's stock valued at $15,173,000 after acquiring an additional 1,314,683 shares in the last quarter. 97.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Fate Therapeutics

In other news, insider Bahram Valamehr sold 11,271 shares of the business's stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $4.38, for a total transaction of $49,366.98. Following the sale, the insider now directly owns 158,069 shares in the company, valued at $692,342.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Bahram Valamehr sold 11,271 shares of the firm's stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $4.38, for a total value of $49,366.98. Following the transaction, the insider now owns 158,069 shares of the company's stock, valued at approximately $692,342.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO J Scott Wolchko sold 14,391 shares of Fate Therapeutics stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $4.37, for a total value of $62,888.67. Following the transaction, the chief executive officer now owns 371,248 shares of the company's stock, valued at approximately $1,622,353.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,413 shares of company stock worth $199,732. 5.04% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Bank of America increased their target price on Fate Therapeutics from $2.00 to $6.00 and gave the stock an "underperform" rating in a report on Thursday, March 28th. HC Wainwright reaffirmed a "neutral" rating and set a $7.00 price objective on shares of Fate Therapeutics in a research report on Tuesday, March 19th. Oppenheimer reissued a "market perform" rating on shares of Fate Therapeutics in a report on Tuesday, February 27th. BMO Capital Markets upped their price target on shares of Fate Therapeutics from $6.00 to $7.00 and gave the stock a "market perform" rating in a report on Tuesday, February 27th. Finally, Barclays increased their price target on shares of Fate Therapeutics from $6.00 to $10.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Fate Therapeutics presently has a consensus rating of "Hold" and a consensus price target of $6.73.

Fate Therapeutics Trading Down 3.0 %

NASDAQ:FATE traded down $0.21 on Monday, hitting $6.71. The company had a trading volume of 2,134,002 shares, compared to its average volume of 2,849,143. Fate Therapeutics, Inc. has a 52 week low of $1.63 and a 52 week high of $8.83. The stock has a market capitalization of $665.90 million, a price-to-earnings ratio of -3.93 and a beta of 1.66. The firm has a 50 day moving average of $6.99 and a two-hundred day moving average of $4.26.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced its quarterly earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) EPS for the quarter, beating analysts' consensus estimates of ($0.57) by $0.12. The company had revenue of $1.68 million during the quarter, compared to analysts' expectations of $0.85 million. Fate Therapeutics had a negative return on equity of 38.17% and a negative net margin of 253.30%. During the same period in the prior year, the company earned ($0.58) EPS. As a group, equities analysts forecast that Fate Therapeutics, Inc. will post -1.94 EPS for the current year.

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.