Thrivent Financial for Lutherans Raises Stake in Fate Therapeutics, Inc. (NASDAQ:FATE)

Thrivent Financial for Lutherans grew its stake in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) by 24.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 125,370 shares of the biopharmaceutical company’s stock after purchasing an additional 24,804 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.11% of Fate Therapeutics worth $439,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of FATE. Massachusetts Financial Services Co. MA boosted its position in shares of Fate Therapeutics by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 167,055 shares of the biopharmaceutical company’s stock worth $548,000 after purchasing an additional 5,605 shares in the last quarter. Doheny Asset Management CA purchased a new stake in shares of Fate Therapeutics during the 2nd quarter worth $263,000. Ausdal Financial Partners Inc. purchased a new stake in shares of Fate Therapeutics during the 2nd quarter worth $33,000. Exchange Traded Concepts LLC boosted its position in shares of Fate Therapeutics by 40.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 42,289 shares of the biopharmaceutical company’s stock worth $148,000 after purchasing an additional 12,230 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Fate Therapeutics by 11.0% during the 2nd quarter. Rhumbline Advisers now owns 160,001 shares of the biopharmaceutical company’s stock worth $525,000 after purchasing an additional 15,825 shares in the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

Fate Therapeutics Trading Down 7.0 %

Shares of FATE stock opened at $2.38 on Friday. The firm has a 50-day moving average price of $2.78 and a 200 day moving average price of $3.45. Fate Therapeutics, Inc. has a twelve month low of $1.96 and a twelve month high of $8.83. The company has a market capitalization of $271.06 million, a price-to-earnings ratio of -1.44 and a beta of 1.95.

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

Wall Street Analysts Forecast Growth

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

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.