State Board of Administration of Florida Retirement System increased its stake in Fate Therapeutics Inc (NASDAQ:FATE) by 19.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,601 shares of the biopharmaceutical company’s stock after buying an additional 3,462 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Fate Therapeutics were worth $277,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Redmile Group LLC lifted its position in Fate Therapeutics by 58.9% in the third quarter. Redmile Group LLC now owns 10,576,363 shares of the biopharmaceutical company’s stock worth $172,289,000 after buying an additional 3,920,401 shares during the last quarter. FMR LLC lifted its position in Fate Therapeutics by 15.3% in the third quarter. FMR LLC now owns 7,637,402 shares of the biopharmaceutical company’s stock worth $124,413,000 after buying an additional 1,011,596 shares during the last quarter. BlackRock Inc. lifted its position in Fate Therapeutics by 5.6% in the third quarter. BlackRock Inc. now owns 3,469,531 shares of the biopharmaceutical company’s stock worth $56,519,000 after buying an additional 183,701 shares during the last quarter. Vanguard Group Inc lifted its position in Fate Therapeutics by 12.7% in the third quarter. Vanguard Group Inc now owns 2,448,279 shares of the biopharmaceutical company’s stock worth $39,882,000 after buying an additional 275,828 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Fate Therapeutics by 12.7% during the third quarter. Vanguard Group Inc. now owns 2,448,279 shares of the biopharmaceutical company’s stock worth $39,882,000 after purchasing an additional 275,828 shares during the last quarter. Institutional investors own 85.88% of the company’s stock.
FATE has been the subject of several research analyst reports. BidaskClub upgraded Fate Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 12th. Jefferies Financial Group initiated coverage on Fate Therapeutics in a research report on Monday, November 5th. They set a “buy” rating and a $17.00 target price for the company. Zacks Investment Research upgraded Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, February 13th. Wedbush lifted their target price on Fate Therapeutics from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday, February 11th. Finally, Stephens downgraded Fate Therapeutics from an “overweight” rating to an “equal” rating in a research report on Thursday, January 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $18.86.
NASDAQ:FATE opened at $15.71 on Friday. Fate Therapeutics Inc has a twelve month low of $8.35 and a twelve month high of $17.98. The firm has a market cap of $1.04 billion, a PE ratio of -15.40 and a beta of 2.06. The company has a quick ratio of 9.44, a current ratio of 9.44 and a debt-to-equity ratio of 0.07.
In other news, Director Amir Nashat sold 17,788 shares of the firm’s stock in a transaction on Thursday, December 13th. The stock was sold at an average price of $16.67, for a total transaction of $296,525.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Cindy Tahl sold 25,000 shares of the firm’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $16.07, for a total value of $401,750.00. Following the transaction, the general counsel now owns 115,418 shares in the company, valued at approximately $1,854,767.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 494,026 shares of company stock valued at $7,330,237. Corporate insiders own 9.89% of the company’s stock.
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About Fate Therapeutics
Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its immuno-oncology product candidates include FATE-NK100, a natural killer (NK) cell cancer immunotherapy that consists of adaptive memory NK cells; FT500 induced pluripotent stem cells (iPSC)-derived NK cell product candidate for the treatment of advanced solid tumors; FT516 engineered iPSC-derived NK cell product candidate for the treatment of hematologic/solid tumors; and FT819 engineered chimeric antigen receptor 19 iPSC-derived T-cell product candidate for hematologic/solid tumors.
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