Victory Capital Management Inc. Sells 91,941 Shares of Fate Therapeutics, Inc. (NASDAQ:FATE)

Victory Capital Management Inc. trimmed its stake in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) by 88.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,078 shares of the biopharmaceutical company’s stock after selling 91,941 shares during the quarter. Victory Capital Management Inc.’s holdings in Fate Therapeutics were worth $42,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Fate Therapeutics by 6.6% in the first quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock valued at $72,747,000 after acquiring an additional 617,644 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its stake in shares of Fate Therapeutics by 62.3% in the 2nd 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 during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Fate Therapeutics by 1.0% during the second quarter. Assenagon Asset Management S.A. now owns 2,574,703 shares of the biopharmaceutical company’s stock worth $8,445,000 after buying an additional 26,399 shares during the period. Dimensional Fund Advisors LP increased 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. Finally, Acadian Asset Management LLC raised its stake 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 worth $6,587,000 after buying an additional 294,738 shares during the last quarter. 97.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FATE has been the topic of a number of research analyst reports. Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, November 18th. HC Wainwright restated a “neutral” rating and set a $5.00 target price on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Wedbush reiterated a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a report on Tuesday, November 12th. Finally, Needham & Company LLC restated 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 issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.75.

Fate Therapeutics Stock Performance

Shares of Fate Therapeutics stock opened at $3.17 on Monday. The stock has a market capitalization of $361.03 million, a PE ratio of -1.92 and a beta of 1.88. Fate Therapeutics, Inc. has a 52 week low of $1.96 and a 52 week high of $8.83. The stock has a 50 day moving average price of $2.85 and a two-hundred day moving average price of $3.48.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.02. The business had revenue of $3.07 million during the quarter, compared to the consensus estimate of $0.88 million. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. Research analysts forecast that Fate Therapeutics, Inc. will post -1.72 EPS for the current year.

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.