Fate Therapeutics, Inc. (NASDAQ:FATE) is Monaco Asset Management SAM's 10th Largest Position

Monaco Asset Management SAM boosted its stake in Fate Therapeutics, Inc. (NASDAQ:FATE - Free Report) by 18.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,183,228 shares of the biopharmaceutical company's stock after purchasing an additional 335,284 shares during the period. Fate Therapeutics comprises approximately 2.4% of Monaco Asset Management SAM's portfolio, making the stock its 10th largest position. Monaco Asset Management SAM owned 2.21% of Fate Therapeutics worth $8,165,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. increased its stake in Fate Therapeutics by 22.8% during the 4th quarter. Victory Capital Management Inc. now owns 12,504 shares of the biopharmaceutical company's stock worth $47,000 after buying an additional 2,322 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Fate Therapeutics by 34.0% in the fourth quarter. Russell Investments Group Ltd. now owns 233,748 shares of the biopharmaceutical company's stock valued at $874,000 after acquiring an additional 59,267 shares in the last quarter. Knights of Columbus Asset Advisors LLC grew its stake in Fate Therapeutics by 100.0% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 32,184 shares of the biopharmaceutical company's stock worth $120,000 after purchasing an additional 16,092 shares in the last quarter. Cerity Partners LLC purchased a new stake in Fate Therapeutics during the 4th quarter worth about $120,000. Finally, Nisa Investment Advisors LLC raised its position in Fate Therapeutics by 1,069.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 16,840 shares of the biopharmaceutical company's stock valued at $63,000 after purchasing an additional 15,400 shares in the last quarter. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Fate Therapeutics Stock Up 4.6 %

NASDAQ:FATE traded up $0.18 during midday trading on Friday, reaching $4.08. The stock had a trading volume of 6,458,162 shares, compared to its average volume of 2,859,185. Fate Therapeutics, Inc. has a 12-month low of $1.63 and a 12-month high of $8.83. The stock has a market cap of $464.39 million, a P/E ratio of -2.12 and a beta of 1.80. The firm has a fifty day simple moving average of $6.03 and a two-hundred day simple moving average of $4.72.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.47) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.47). Fate Therapeutics had a negative net margin of 2,933.79% and a negative return on equity of 47.16%. The firm had revenue of $1.93 million during the quarter, compared to analysts' expectations of $0.80 million. During the same period in the prior year, the company posted ($0.19) earnings per share. On average, sell-side analysts anticipate that Fate Therapeutics, Inc. will post -1.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wedbush reaffirmed a "neutral" rating and issued a $7.00 target price on shares of Fate Therapeutics in a report on Monday, May 6th. Morgan Stanley upped their price objective on Fate Therapeutics from $3.00 to $7.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 27th. Barclays raised their target price on Fate Therapeutics from $6.00 to $10.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 27th. Needham & Company LLC reiterated a "hold" rating on shares of Fate Therapeutics in a research note on Thursday, April 11th. Finally, Piper Sandler reduced their price target on shares of Fate Therapeutics from $7.00 to $4.00 and set a "neutral" rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $6.75.

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.