Exchange Traded Concepts LLC Acquires 12,230 Shares of Fate Therapeutics, Inc. (NASDAQ:FATE)

Exchange Traded Concepts LLC grew its holdings in Fate Therapeutics, Inc. (NASDAQ:FATE) by 40.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 42,289 shares of the biopharmaceutical company’s stock after buying an additional 12,230 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Fate Therapeutics were worth $148,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC bought a new position in Fate Therapeutics in the first quarter worth about $1,109,000. Price T Rowe Associates Inc. MD raised its position in shares of Fate Therapeutics by 404.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 274,289 shares of the biopharmaceutical company’s stock worth $2,014,000 after acquiring an additional 219,932 shares in the last quarter. Perceptive Advisors LLC purchased a new position in shares of Fate Therapeutics in the 2nd quarter valued at approximately $1,133,000. Vanguard Group Inc. lifted its stake in shares of Fate Therapeutics by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock valued at $72,747,000 after purchasing an additional 617,644 shares during the period. Finally, Deerfield Management Company L.P. Series C boosted its position in shares of Fate Therapeutics by 62.3% during the second quarter. Deerfield Management Company L.P. Series C now owns 3,555,871 shares of the biopharmaceutical company’s stock valued at $11,663,000 after purchasing an additional 1,365,463 shares in the last quarter. 97.54% of the stock is owned by hedge funds and other institutional investors.

Fate Therapeutics Stock Performance

Shares of Fate Therapeutics stock opened at $3.19 on Wednesday. The company has a 50-day simple moving average of $3.49 and a two-hundred day simple moving average of $3.90. The stock has a market capitalization of $363.12 million, a PE ratio of -1.66 and a beta of 1.83. Fate Therapeutics, Inc. has a 52-week low of $1.63 and a 52-week 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, topping analysts’ consensus estimates of ($0.47) by $0.14. The company had revenue of $6.77 million during the quarter, compared to analyst estimates of $1.47 million. Fate Therapeutics had a negative net margin of 1,426.67% and a negative return on equity of 44.09%. As a group, equities research analysts forecast that Fate Therapeutics, Inc. will post -1.73 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the company. HC Wainwright reissued a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research note on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.90.

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.