Y Intercept Hong Kong Ltd Invests $58,000 in Fate Therapeutics, Inc. (NASDAQ:FATE)

Y Intercept Hong Kong Ltd acquired a new stake in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 35,360 shares of the biopharmaceutical company’s stock, valued at approximately $58,000.

Other hedge funds have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. bought a new position in Fate Therapeutics during the fourth quarter valued at about $40,000. FPC Investment Advisory Inc. acquired a new stake in shares of Fate Therapeutics during the 4th quarter worth approximately $44,000. SG Americas Securities LLC increased its position in shares of Fate Therapeutics by 30.6% during the fourth quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 10,511 shares during the period. Intech Investment Management LLC acquired a new position in shares of Fate Therapeutics in the third quarter valued at $108,000. Finally, Institute for Wealth Management LLC. bought a new position in Fate Therapeutics in the fourth quarter worth $110,000. Institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Stock Down 4.7 %

Shares of Fate Therapeutics stock opened at $0.91 on Thursday. Fate Therapeutics, Inc. has a 12-month low of $0.89 and a 12-month high of $8.83. The stock has a market capitalization of $103.09 million, a P/E ratio of -0.55 and a beta of 2.02. The company has a 50-day simple moving average of $1.40 and a 200 day simple moving average of $2.41.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings data on Monday, March 10th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.13. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. On average, equities analysts anticipate that Fate Therapeutics, Inc. will post -1.63 earnings per share for the current year.

Insider Activity at Fate Therapeutics

In other Fate Therapeutics news, Director Redmile Group, Llc bought 397,964 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were bought at an average price of $1.68 per share, for a total transaction of $668,579.52. Following the completion of 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on FATE. Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research note on Tuesday, November 19th. Wedbush reissued a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a research report on Tuesday, November 12th. Finally, StockNews.com raised Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Monday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.17.

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.