Franklin Resources Inc. Cuts Stake in Fate Therapeutics, Inc. (NASDAQ:FATE)

Franklin Resources Inc. lessened its holdings in Fate Therapeutics, Inc. (NASDAQ:FATE) by 34.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 150,821 shares of the biopharmaceutical company’s stock after selling 79,042 shares during the quarter. Franklin Resources Inc. owned 0.13% of Fate Therapeutics worth $528,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of FATE. Perceptive Advisors LLC purchased a new position in shares of Fate Therapeutics in the second quarter worth $1,133,000. Deerfield Management Company L.P. Series C increased its position in shares of Fate Therapeutics by 62.3% in the second 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. Integral Health Asset Management LLC raised its stake in shares of Fate Therapeutics by 325.0% during the second 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 during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Fate Therapeutics in the second quarter worth about $1,799,000. Finally, E Fund Management Co. Ltd. increased its holdings in Fate Therapeutics by 930.2% during the 2nd 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 during the period. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Insider Buying and Selling at Fate Therapeutics

In related news, Director Redmile Group, Llc acquired 397,964 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were acquired at an average cost of $1.68 per share, for a total transaction of $668,579.52. Following the completion of the transaction, the director now directly owns 12,884,277 shares in the company, valued at approximately $21,645,585.36. This trade represents a 3.19 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.00% of the stock is currently owned by company insiders.

Fate Therapeutics Stock Performance

FATE stock opened at $1.62 on Tuesday. The company has a market cap of $184.51 million, a price-to-earnings ratio of -0.98 and a beta of 1.95. The business’s 50-day moving average is $2.38 and its two-hundred day moving average is $3.25. Fate Therapeutics, Inc. has a fifty-two week low of $1.55 and a fifty-two week high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results 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. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. The company had revenue of $3.07 million for the quarter, compared to the consensus estimate of $0.88 million. Equities analysts predict that Fate Therapeutics, Inc. will post -1.72 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on FATE shares. Wedbush reiterated a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a report on Tuesday, November 12th. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research report on Tuesday, November 19th. Finally, Bank of America upgraded shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th. 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 company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.75.

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.