Federated Hermes Inc. Sells 601,672 Shares of Fate Therapeutics, Inc. (NASDAQ:FATE)

Federated Hermes Inc. lessened its position in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) by 24.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,849,872 shares of the biopharmaceutical company’s stock after selling 601,672 shares during the quarter. Federated Hermes Inc. owned about 1.88% of Fate Therapeutics worth $6,919,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cerity Partners LLC acquired a new position in Fate Therapeutics during the 4th quarter valued at about $120,000. Nisa Investment Advisors LLC lifted its holdings in Fate Therapeutics by 1,069.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 16,840 shares of the biopharmaceutical company’s stock valued at $63,000 after buying an additional 15,400 shares during the period. SG Americas Securities LLC boosted its stake in Fate Therapeutics by 23.0% in the fourth quarter. SG Americas Securities LLC now owns 90,553 shares of the biopharmaceutical company’s stock valued at $339,000 after acquiring an additional 16,911 shares during the last quarter. Epiq Partners LLC acquired a new stake in Fate Therapeutics during the 4th quarter worth $38,000. Finally, Exchange Traded Concepts LLC raised its position in shares of Fate Therapeutics by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 63,725 shares of the biopharmaceutical company’s stock valued at $238,000 after acquiring an additional 16,159 shares during the last quarter. Institutional investors own 97.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on FATE. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research report on Thursday, April 11th. Oppenheimer reaffirmed a “market perform” rating on shares of Fate Therapeutics in a research note on Tuesday, February 27th. Barclays lifted their price objective on shares of Fate Therapeutics from $6.00 to $10.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Morgan Stanley upped their target price on shares of Fate Therapeutics from $3.00 to $7.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 27th. Finally, Wedbush reissued a “neutral” rating and set a $7.00 price target on shares of Fate Therapeutics in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.73.

Fate Therapeutics Price Performance

Shares of Fate Therapeutics stock opened at $4.30 on Thursday. The firm has a market cap of $489.41 million, a price-to-earnings ratio of -2.62 and a beta of 1.66. The stock’s 50-day moving average is $6.84 and its 200-day moving average is $4.56. Fate Therapeutics, Inc. has a one year low of $1.63 and a one year high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.12. The firm had revenue of $1.68 million for the quarter, compared to analysts’ expectations of $0.85 million. Fate Therapeutics had a negative return on equity of 38.17% and a negative net margin of 253.30%. During the same quarter in the previous year, the business posted ($0.58) EPS. On average, equities analysts expect that Fate Therapeutics, Inc. will post -1.94 EPS for the current 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.