The Manufacturers Life Insurance Company Trims Holdings in Fate Therapeutics, Inc. (NASDAQ:FATE)

The Manufacturers Life Insurance Company lowered its holdings in Fate Therapeutics, Inc. (NASDAQ:FATE) by 33.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 39,715 shares of the biopharmaceutical company’s stock after selling 20,125 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Fate Therapeutics were worth $130,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of FATE. Ausdal Financial Partners Inc. bought a new position in shares of Fate Therapeutics during the second quarter valued at approximately $33,000. Dark Forest Capital Management LP purchased a new position in Fate Therapeutics during the 2nd quarter valued at $63,000. DRW Securities LLC bought a new position in Fate Therapeutics in the 2nd quarter worth $71,000. Arizona State Retirement System purchased a new stake in shares of Fate Therapeutics in the 2nd quarter worth about $84,000. Finally, Headlands Technologies LLC boosted its stake in shares of Fate Therapeutics by 5,258.6% during the 2nd quarter. Headlands Technologies LLC now owns 28,508 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 27,976 shares in the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on FATE. HC Wainwright reissued a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a research note on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $6.90.

Fate Therapeutics Stock Up 0.3 %

Fate Therapeutics stock opened at $3.23 on Friday. Fate Therapeutics, Inc. has a twelve month low of $1.63 and a twelve month high of $8.83. The company has a market capitalization of $367.68 million, a P/E ratio of -1.68 and a beta of 1.83. The stock’s 50 day moving average is $3.50 and its 200 day moving average is $3.98.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) 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 analysts’ expectations of $1.47 million. Fate Therapeutics had a negative return on equity of 44.09% and a negative net margin of 1,426.67%. As a group, equities analysts expect that Fate Therapeutics, Inc. will post -1.73 EPS for the current year.

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.