Vanguard Group Inc. Sells 815,023 Shares of Fate Therapeutics, Inc. (NASDAQ:FATE)

Vanguard Group Inc. decreased its holdings in shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Free Report) by 7.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,908,351 shares of the biopharmaceutical company's stock after selling 815,023 shares during the period. Vanguard Group Inc. owned about 11.06% of Fate Therapeutics worth $23,126,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FATE. Envestnet Asset Management Inc. increased its holdings in shares of Fate Therapeutics by 20.0% during the first quarter. Envestnet Asset Management Inc. now owns 8,734 shares of the biopharmaceutical company's stock worth $339,000 after buying an additional 1,457 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Fate Therapeutics by 42.6% during the first quarter. Raymond James & Associates now owns 29,436 shares of the biopharmaceutical company's stock worth $1,141,000 after buying an additional 8,790 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Fate Therapeutics by 5.9% during the first quarter. HighTower Advisors LLC now owns 18,361 shares of the biopharmaceutical company's stock worth $714,000 after buying an additional 1,016 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Fate Therapeutics by 25.7% during the first quarter. Private Advisor Group LLC now owns 9,481 shares of the biopharmaceutical company's stock worth $367,000 after buying an additional 1,938 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Fate Therapeutics by 17.1% during the first quarter. PNC Financial Services Group Inc. now owns 6,737 shares of the biopharmaceutical company's stock worth $260,000 after buying an additional 986 shares in the last quarter. Institutional investors and hedge funds own 97.54% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Needham & Company LLC reissued a "hold" rating on shares of Fate Therapeutics in a report on Thursday. Morgan Stanley raised their price target on shares of Fate Therapeutics from $3.00 to $7.00 and gave the company an "equal weight" rating in a report on Tuesday, February 27th. Bank of America raised their price target on shares of Fate Therapeutics from $2.00 to $6.00 and gave the company an "underperform" rating in a report on Thursday, March 28th. Oppenheimer reissued a "market perform" rating on shares of Fate Therapeutics in a report on Tuesday, February 27th. Finally, HC Wainwright reissued a "neutral" rating and issued a $7.00 price target on shares of Fate Therapeutics in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $6.73.

Fate Therapeutics Stock Down 3.0 %

FATE stock traded down $0.18 during midday trading on Friday, reaching $5.77. The company's stock had a trading volume of 1,837,647 shares, compared to its average volume of 2,479,360. Fate Therapeutics, Inc. has a 52 week low of $1.63 and a 52 week high of $8.83. The stock has a market cap of $572.60 million, a PE ratio of -3.52 and a beta of 1.66. The business's 50-day simple moving average is $7.00 and its 200-day simple moving average is $4.41.

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

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.