Barclays PLC Purchases 301,389 Shares of Fate Therapeutics, Inc. (NASDAQ:FATE)

Barclays PLC lifted its position in Fate Therapeutics, Inc. (NASDAQ:FATE) by 245.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 424,277 shares of the biopharmaceutical company’s stock after buying an additional 301,389 shares during the period. Barclays PLC’s holdings in Fate Therapeutics were worth $1,485,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in FATE. Deerfield Management Company L.P. Series C grew its position in 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 worth $11,663,000 after buying an additional 1,365,463 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings 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 purchasing an additional 1,067,101 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Fate Therapeutics by 17.2% in the second quarter. Acadian Asset Management LLC now owns 2,008,862 shares of the biopharmaceutical company’s stock worth $6,587,000 after purchasing an additional 294,738 shares during the last quarter. Federated Hermes Inc. raised its stake in Fate Therapeutics by 2.4% in the second quarter. Federated Hermes Inc. now owns 1,031,505 shares of the biopharmaceutical company’s stock valued at $3,383,000 after purchasing an additional 24,127 shares in the last quarter. Finally, Integral Health Asset Management LLC lifted its position in Fate Therapeutics by 325.0% during the second quarter. Integral Health Asset Management LLC now owns 850,000 shares of the biopharmaceutical company’s stock valued at $2,788,000 after purchasing an additional 650,000 shares during the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FATE. Wedbush reissued a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a report on Tuesday, November 12th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research note on Tuesday, November 19th. Finally, Bank of America upgraded Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.75.

Fate Therapeutics Stock Down 0.6 %

NASDAQ FATE opened at $1.61 on Friday. The company has a 50-day simple moving average of $2.38 and a two-hundred day simple moving average of $3.26. Fate Therapeutics, Inc. has a 12-month low of $1.56 and a 12-month high of $8.83. The firm has a market cap of $183.37 million, a price-to-earnings ratio of -0.98 and a beta of 1.95.

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

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.