Victory Capital Management Inc. Has $341,000 Holdings in Fate Therapeutics, Inc. (NASDAQ:FATE)

Victory Capital Management Inc. cut its position in Fate Therapeutics, Inc. (NASDAQ:FATE) by 43.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,019 shares of the biopharmaceutical company’s stock after selling 79,931 shares during the quarter. Victory Capital Management Inc. owned about 0.09% of Fate Therapeutics worth $341,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. RPO LLC acquired a new position in Fate Therapeutics during the fourth quarter worth approximately $46,000. Vestal Point Capital LP bought a new position in shares of Fate Therapeutics during the 4th quarter worth approximately $4,825,000. Superstring Capital Management LP acquired a new position in shares of Fate Therapeutics during the 4th quarter worth approximately $3,171,000. Pennant Investors LP bought a new stake in Fate Therapeutics in the 4th quarter valued at $546,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Fate Therapeutics during the 1st quarter valued at $432,000. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Fate Therapeutics Trading Down 5.9 %

NASDAQ FATE opened at $3.64 on Tuesday. The company has a market cap of $414.35 million, a price-to-earnings ratio of -1.90 and a beta of 1.84. The company has a 50 day moving average of $4.04 and a 200-day moving average of $4.50. Fate Therapeutics, Inc. has a 1-year low of $1.63 and a 1-year high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings data on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.14. The firm had revenue of $6.77 million during the quarter, compared to analysts’ expectations of $1.47 million. Fate Therapeutics had a negative return on equity of 44.09% and a negative net margin of 1,426.67%. On average, equities research analysts forecast that Fate Therapeutics, Inc. will post -1.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

FATE has been the topic of several research reports. Piper Sandler upgraded shares of Fate Therapeutics from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $4.00 to $6.00 in a report on Monday, June 17th. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research note on Wednesday, August 14th. Finally, HC Wainwright restated a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.90.

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.