Massachusetts Financial Services Co. MA Purchases 5,605 Shares of Fate Therapeutics, Inc. (NASDAQ:FATE)

Massachusetts Financial Services Co. MA boosted its position in Fate Therapeutics, Inc. (NASDAQ:FATE) by 3.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 167,055 shares of the biopharmaceutical company’s stock after purchasing an additional 5,605 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.15% of Fate Therapeutics worth $548,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC bought a new position in shares of Fate Therapeutics in the 1st quarter worth about $1,109,000. Vestal Point Capital LP bought a new position in shares of Fate Therapeutics during the fourth quarter valued at approximately $4,825,000. Price T Rowe Associates Inc. MD increased its stake in shares of Fate Therapeutics by 404.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 274,289 shares of the biopharmaceutical company’s stock valued at $2,014,000 after purchasing an additional 219,932 shares in the last quarter. Superstring Capital Management LP bought a new stake in shares of Fate Therapeutics in the 4th quarter worth approximately $3,171,000. Finally, Vanguard Group Inc. boosted its position in shares of Fate Therapeutics by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock worth $72,747,000 after purchasing an additional 617,644 shares in the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Analyst Ratings Changes

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

Fate Therapeutics Stock Down 3.3 %

Shares of Fate Therapeutics stock opened at $3.87 on Monday. The company has a market cap of $440.53 million, a price-to-earnings ratio of -2.02 and a beta of 1.84. The company’s 50 day moving average is $4.05 and its 200 day moving average is $4.53. Fate Therapeutics, Inc. has a twelve month low of $1.63 and a twelve month high of $8.83.

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