JPMorgan Chase & Co. Has $6.43 Million Stake in Fate Therapeutics, Inc. (NASDAQ:FATE)

JPMorgan Chase & Co. raised its stake in Fate Therapeutics, Inc. (NASDAQ:FATE) by 18.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,837,304 shares of the biopharmaceutical company’s stock after buying an additional 283,080 shares during the period. JPMorgan Chase & Co. owned about 1.61% of Fate Therapeutics worth $6,431,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its position in 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 valued at $548,000 after purchasing an additional 5,605 shares during the period. Doheny Asset Management CA bought a new position in Fate Therapeutics during the second quarter worth $263,000. Geode Capital Management LLC lifted its holdings in Fate Therapeutics by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company’s stock valued at $7,905,000 after buying an additional 10,863 shares during the period. Exchange Traded Concepts LLC boosted its position in Fate Therapeutics by 40.7% during the third quarter. Exchange Traded Concepts LLC now owns 42,289 shares of the biopharmaceutical company’s stock valued at $148,000 after acquiring an additional 12,230 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in 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 acquiring an additional 15,825 shares during the period. 97.54% of the stock is currently owned by institutional investors.

Insider Activity 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 stock was purchased at an average cost of $1.68 per share, with a total value of $668,579.52. Following the acquisition, the director now owns 12,884,277 shares of the company’s stock, valued at approximately $21,645,585.36. This trade represents a 3.19 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FATE. 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. Needham & Company LLC reaffirmed 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 research report on Monday, November 18th. 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.75.

Fate Therapeutics Stock Up 5.2 %

Shares of FATE opened at $1.32 on Thursday. The business’s fifty day moving average is $2.11 and its 200 day moving average is $3.09. Fate Therapeutics, Inc. has a 12-month low of $1.04 and a 12-month high of $8.83. The stock has a market cap of $150.34 million, a P/E ratio of -0.80 and a beta of 2.02.

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 analysts’ consensus estimates 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%. On average, analysts expect that Fate Therapeutics, Inc. will post -1.72 EPS for the current year.

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.