Stifel Financial Corp Sells 17,391 Shares of Fate Therapeutics, Inc. (NASDAQ:FATE)

Stifel Financial Corp lowered its stake in Fate Therapeutics, Inc. (NASDAQ:FATE) by 41.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,096 shares of the biopharmaceutical company’s stock after selling 17,391 shares during the quarter. Stifel Financial Corp’s holdings in Fate Therapeutics were worth $84,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Doheny Asset Management CA bought a new stake in Fate Therapeutics in the 2nd quarter valued at $263,000. Ausdal Financial Partners Inc. acquired a new stake in shares of Fate Therapeutics in the 2nd quarter valued at about $33,000. Dark Forest Capital Management LP bought a new stake in shares of Fate Therapeutics in the second quarter valued at about $63,000. Castleview Partners LLC acquired a new position in shares of Fate Therapeutics during the third quarter worth about $73,000. Finally, DRW Securities LLC acquired a new position in shares of Fate Therapeutics during the second quarter worth about $71,000. Institutional investors and hedge funds own 97.54% of the company’s stock.

Fate Therapeutics Price Performance

Shares of FATE opened at $1.62 on Tuesday. The company has a market cap of $184.51 million, a PE ratio of -0.98 and a beta of 1.95. The firm has a 50-day moving average of $2.38 and a 200-day moving average of $3.25. Fate Therapeutics, Inc. has a one year low of $1.55 and a one year high of $8.83.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FATE. Bank of America raised Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, November 18th. Wedbush reissued 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 reaffirmed a “hold” rating on shares of Fate Therapeutics in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Fate Therapeutics currently has an average rating of “Hold” and a consensus price target of $6.75.

Insider Transactions at Fate Therapeutics

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

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.