Fate Therapeutics, Inc. (NASDAQ:FATE) Stake Cut by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) by 42.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,668 shares of the biopharmaceutical company’s stock after selling 10,208 shares during the period. Principal Financial Group Inc.’s holdings in Fate Therapeutics were worth $45,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in FATE. RPO LLC acquired a new position in shares of Fate Therapeutics in the 4th quarter valued at about $46,000. Victory Capital Management Inc. lifted its holdings in Fate Therapeutics by 22.8% in the fourth quarter. Victory Capital Management Inc. now owns 12,504 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 2,322 shares during the last quarter. Simplicity Wealth LLC acquired a new position in Fate Therapeutics in the first quarter valued at approximately $81,000. Bayesian Capital Management LP grew its holdings in shares of Fate Therapeutics by 102.7% during the first quarter. Bayesian Capital Management LP now owns 39,800 shares of the biopharmaceutical company’s stock valued at $292,000 after purchasing an additional 20,164 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Fate Therapeutics by 100.9% during the 1st quarter. BNP Paribas Financial Markets now owns 46,962 shares of the biopharmaceutical company’s stock worth $345,000 after purchasing an additional 23,582 shares during the period. Institutional investors own 97.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FATE. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research report on Wednesday, August 14th. Piper Sandler raised shares of Fate Therapeutics from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $4.00 to $6.00 in a report on Monday, June 17th. Finally, HC Wainwright restated a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fate Therapeutics currently has an average rating of “Hold” and a consensus target price of $6.90.

Fate Therapeutics Stock Down 1.5 %

FATE stock opened at $3.96 on Tuesday. The company has a market capitalization of $450.77 million, a P/E ratio of -2.06 and a beta of 1.84. The company has a 50-day simple moving average of $3.98 and a 200 day simple moving average of $4.65. Fate Therapeutics, Inc. has a fifty-two week low of $1.63 and a fifty-two week high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.14. Fate Therapeutics had a negative net margin of 1,426.67% and a negative return on equity of 44.09%. The company had revenue of $6.77 million during the quarter, compared to analyst estimates of $1.47 million. Equities analysts anticipate that Fate Therapeutics, Inc. will post -1.73 EPS for the current year.

Fate Therapeutics Company 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.