Sphera Funds Management LTD. Makes New Investment in Fate Therapeutics, Inc. (NASDAQ:FATE)

Sphera Funds Management LTD. bought a new stake in shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 397,177 shares of the biopharmaceutical company's stock, valued at approximately $655,000. Sphera Funds Management LTD. owned approximately 0.35% of Fate Therapeutics at the end of the most recent reporting period.

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

Fate Therapeutics Stock Up 14.0%

Shares of FATE traded up $0.15 during mid-day trading on Monday, reaching $1.22. The company had a trading volume of 3,196,467 shares, compared to its average volume of 2,247,170. Fate Therapeutics, Inc. has a 52-week low of $0.66 and a 52-week high of $5.92. The stock has a market capitalization of $139.82 million, a P/E ratio of -0.74 and a beta of 2.32. The stock has a 50 day moving average of $1.02 and a two-hundred day moving average of $1.49.

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

Analyst Upgrades and Downgrades

FATE has been the topic of a number of research reports. StockNews.com raised Fate Therapeutics from a "sell" rating to a "hold" rating in a report on Thursday. Stifel Nicolaus cut their price objective on Fate Therapeutics from $5.00 to $3.00 and set a "hold" rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company cut their price objective on Fate Therapeutics from $5.00 to $4.00 and set an "equal weight" rating on the stock in a report on Thursday, March 6th. Robert W. Baird cut their price objective on Fate Therapeutics from $5.00 to $4.00 and set a "neutral" rating on the stock in a report on Wednesday, May 14th. Finally, Wedbush reissued a "neutral" rating and issued a $5.00 price objective on shares of Fate Therapeutics in a report on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Fate Therapeutics has an average rating of "Hold" and an average target price of $4.14.

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.