BNP Paribas Financial Markets Raises Stake in Fate Therapeutics, Inc. (NASDAQ:FATE)

BNP Paribas Financial Markets lifted its stake in Fate Therapeutics, Inc. (NASDAQ:FATE) by 1,307.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 174,148 shares of the biopharmaceutical company’s stock after purchasing an additional 161,776 shares during the period. BNP Paribas Financial Markets owned approximately 0.15% of Fate Therapeutics worth $610,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Perceptive Advisors LLC purchased a new position in shares of Fate Therapeutics in the second quarter valued at $1,133,000. Deerfield Management Company L.P. Series C increased its holdings in Fate Therapeutics by 62.3% during 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 in the last quarter. Integral Health Asset Management LLC increased its holdings in Fate Therapeutics by 325.0% during the 2nd quarter. Integral Health Asset Management LLC now owns 850,000 shares of the biopharmaceutical company’s stock valued at $2,788,000 after acquiring an additional 650,000 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Fate Therapeutics during the second quarter worth about $1,799,000. Finally, E Fund Management Co. Ltd. lifted its holdings in shares of Fate Therapeutics by 930.2% in the second quarter. E Fund Management Co. Ltd. now owns 355,225 shares of the biopharmaceutical company’s stock valued at $1,165,000 after purchasing an additional 320,745 shares in the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.

Fate Therapeutics Stock Performance

FATE stock opened at $1.93 on Friday. The firm has a 50 day simple moving average of $2.68 and a 200 day simple moving average of $3.40. Fate Therapeutics, Inc. has a 52 week low of $1.90 and a 52 week high of $8.83. The stock has a market cap of $219.25 million, a P/E ratio of -1.17 and a beta of 1.95.

Fate Therapeutics (NASDAQ:FATE) last issued 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 firm had revenue of $3.07 million for the quarter, compared to analyst estimates of $0.88 million. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. Sell-side analysts predict that Fate Therapeutics, Inc. will post -1.72 EPS for the current year.

Wall Street Analyst Weigh In

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

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.