Geode Capital Management LLC Acquires 10,863 Shares of Fate Therapeutics, Inc. (NASDAQ:FATE)

Geode Capital Management LLC lifted its holdings in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,258,246 shares of the biopharmaceutical company’s stock after purchasing an additional 10,863 shares during the quarter. Geode Capital Management LLC owned 1.98% of Fate Therapeutics worth $7,905,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Bank of New York Mellon Corp increased its position in shares of Fate Therapeutics by 23.9% in the second quarter. Bank of New York Mellon Corp now owns 374,132 shares of the biopharmaceutical company’s stock valued at $1,227,000 after acquiring an additional 72,139 shares during the last quarter. Rhumbline Advisers raised its holdings in Fate Therapeutics by 11.0% in the 2nd quarter. Rhumbline Advisers now owns 160,001 shares of the biopharmaceutical company’s stock valued at $525,000 after acquiring an additional 15,825 shares in the last quarter. Arizona State Retirement System bought a new position in Fate Therapeutics in the 2nd quarter valued at about $84,000. Acadian Asset Management LLC raised its position in Fate Therapeutics by 17.2% during the second quarter. Acadian Asset Management LLC now owns 2,008,862 shares of the biopharmaceutical company’s stock valued at $6,587,000 after purchasing an additional 294,738 shares in the last quarter. Finally, Ausdal Financial Partners Inc. acquired a new stake in Fate Therapeutics in the second quarter valued at about $33,000. Institutional investors own 97.54% of the company’s stock.

Insiders Place Their Bets

In other news, Director Redmile Group, Llc acquired 397,964 shares of Fate Therapeutics stock in a transaction on Friday, December 20th. The shares were acquired at an average price of $1.68 per share, with a total value of $668,579.52. Following the purchase, the director now directly owns 12,884,277 shares in the company, valued at $21,645,585.36. The trade was a 3.19 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.00% of the company’s stock.

Fate Therapeutics Stock Performance

Fate Therapeutics stock opened at $1.79 on Friday. The stock has a market cap of $203.87 million, a PE ratio of -1.08 and a beta of 1.95. The stock has a fifty day moving average of $2.27 and a 200 day moving average of $3.20. Fate Therapeutics, Inc. has a one year low of $1.55 and a one year 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, topping analysts’ consensus estimates of ($0.42) by $0.02. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. The business had revenue of $3.07 million during the quarter, compared to analyst estimates of $0.88 million. As a group, sell-side analysts predict that Fate Therapeutics, Inc. will post -1.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FATE has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research note on Tuesday, November 19th. Wedbush restated a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research note on Tuesday, November 12th. Finally, Bank of America raised 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 issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $6.75.

Fate Therapeutics Company 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.