Victory Capital Management Inc. Has $42,000 Holdings in Fate Therapeutics, Inc. (NASDAQ:FATE)

Victory Capital Management Inc. trimmed its holdings in Fate Therapeutics, Inc. (NASDAQ:FATE) by 88.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,078 shares of the biopharmaceutical company’s stock after selling 91,941 shares during the period. Victory Capital Management Inc.’s holdings in Fate Therapeutics were worth $42,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Fate Therapeutics by 6.6% during the first 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 during the period. Deerfield Management Company L.P. Series C raised its holdings in Fate Therapeutics by 62.3% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,555,871 shares of the biopharmaceutical company’s stock valued at $11,663,000 after acquiring an additional 1,365,463 shares during the period. Assenagon Asset Management S.A. lifted its position in Fate Therapeutics by 1.0% during the second quarter. Assenagon Asset Management S.A. now owns 2,574,703 shares of the biopharmaceutical company’s stock worth $8,445,000 after acquiring an additional 26,399 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Fate Therapeutics by 100.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,130,280 shares of the biopharmaceutical company’s stock worth $6,987,000 after acquiring an additional 1,067,101 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of Fate Therapeutics by 17.2% in the second quarter. Acadian Asset Management LLC now owns 2,008,862 shares of the biopharmaceutical company’s stock valued at $6,587,000 after purchasing an additional 294,738 shares during the last quarter. 97.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a report on Tuesday, November 19th. Wedbush restated a “neutral” rating and set a $5.00 target price on shares of Fate Therapeutics in a research report on Tuesday, November 12th. HC Wainwright reiterated a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Finally, Bank of America raised Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.75.

Fate Therapeutics Stock Performance

Shares of FATE stock opened at $3.17 on Monday. Fate Therapeutics, Inc. has a fifty-two week low of $1.96 and a fifty-two week high of $8.83. The stock’s fifty day moving average price is $2.85 and its two-hundred day moving average price is $3.48. The company has a market cap of $361.03 million, a PE ratio of -1.92 and a beta of 1.88.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.02. The business had revenue of $3.07 million for the quarter, compared to analyst estimates of $0.88 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. On average, equities analysts predict that Fate Therapeutics, Inc. will post -1.72 EPS for the current fiscal year.

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.