Fate Therapeutics, Inc. (NASDAQ:FATE) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its stake in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) by 84.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 372,507 shares of the biopharmaceutical company’s stock after selling 2,061,691 shares during the period. Assenagon Asset Management S.A. owned approximately 0.33% of Fate Therapeutics worth $615,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. American Century Companies Inc. increased its holdings in Fate Therapeutics by 26.4% in the 2nd quarter. American Century Companies Inc. now owns 166,255 shares of the biopharmaceutical company’s stock valued at $545,000 after purchasing an additional 34,676 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Fate Therapeutics by 100.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,130,280 shares of the biopharmaceutical company’s stock worth $6,987,000 after buying an additional 1,067,101 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Fate Therapeutics in the second quarter valued at $1,799,000. Hsbc Holdings PLC raised its holdings in shares of Fate Therapeutics by 34.3% in the 2nd quarter. Hsbc Holdings PLC now owns 88,514 shares of the biopharmaceutical company’s stock valued at $283,000 after buying an additional 22,583 shares during the period. Finally, XTX Topco Ltd raised its holdings in shares of Fate Therapeutics by 95.0% in the 2nd quarter. XTX Topco Ltd now owns 33,898 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 16,510 shares during the period. 97.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Redmile Group, Llc purchased 397,964 shares of the company’s stock in a transaction on Friday, December 20th. The shares were bought at an average cost of $1.68 per share, for a total transaction of $668,579.52. Following the completion of the purchase, the director now directly 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 legal filing with the SEC, which can be accessed through this link. 5.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in 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 restated a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a report on Tuesday, November 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a 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 given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.75.

Fate Therapeutics Trading Down 0.7 %

Shares of NASDAQ:FATE opened at $1.33 on Friday. The company has a market cap of $151.48 million, a PE ratio of -0.81 and a beta of 2.02. The company’s 50 day moving average is $1.94 and its two-hundred day moving average is $2.98. Fate Therapeutics, Inc. has a 52 week low of $1.04 and a 52 week high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results 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 company had revenue of $3.07 million for 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%. As a group, equities research analysts expect that Fate Therapeutics, Inc. will post -1.63 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.