Federated Hermes Inc. Trims Stock Position in Fate Therapeutics, Inc. (NASDAQ:FATE)

Federated Hermes Inc. reduced its holdings in Fate Therapeutics, Inc. (NASDAQ:FATE - Free Report) by 24.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,849,872 shares of the biopharmaceutical company's stock after selling 601,672 shares during the quarter. Federated Hermes Inc. owned 1.88% of Fate Therapeutics worth $6,919,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brown Advisory Inc. increased its position in shares of Fate Therapeutics by 53.3% in the third quarter. Brown Advisory Inc. now owns 19,364 shares of the biopharmaceutical company's stock worth $41,000 after purchasing an additional 6,735 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Fate Therapeutics by 15.1% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 60,299 shares of the biopharmaceutical company's stock valued at $128,000 after buying an additional 7,916 shares in the last quarter. Epiq Partners LLC purchased a new stake in shares of Fate Therapeutics during the 4th quarter valued at $38,000. Fox Run Management L.L.C. bought a new stake in shares of Fate Therapeutics during the 3rd quarter worth $25,000. Finally, National Bank of Canada FI purchased a new position in Fate Therapeutics in the third quarter worth $25,000. Hedge funds and other institutional investors own 97.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Morgan Stanley upped their target price on Fate Therapeutics from $3.00 to $7.00 and gave the stock an "equal weight" rating in a research note 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 company a "market perform" rating in a research report on Tuesday, February 27th. Bank of America lifted their price objective 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 reissued a "neutral" rating and issued a $7.00 target price on shares of Fate Therapeutics in a research note on Tuesday, March 19th. Finally, Barclays raised their price target on Fate Therapeutics from $6.00 to $10.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Fate Therapeutics has a consensus rating of "Hold" and an average price target of $6.73.

Fate Therapeutics Price Performance

NASDAQ:FATE traded down $0.43 during trading hours on Thursday, hitting $3.87. The company had a trading volume of 3,601,612 shares, compared to its average volume of 2,782,994. The stock has a 50-day moving average price of $6.80 and a 200 day moving average price of $4.56. The company has a market capitalization of $440.48 million, a PE ratio of -2.43 and a beta of 1.66. Fate Therapeutics, Inc. has a 52 week low of $1.63 and a 52 week high of $8.83.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last released its quarterly earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.12. The company had revenue of $1.68 million for the quarter, compared to analyst estimates 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 previous year, the company posted ($0.58) earnings per share. Analysts anticipate that Fate Therapeutics, Inc. will post -1.94 EPS 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.