E Fund Management Co. Ltd. Increases Stock Holdings in Fate Therapeutics, Inc. (NASDAQ:FATE)

E Fund Management Co. Ltd. increased its holdings in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) by 930.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 355,225 shares of the biopharmaceutical company’s stock after buying an additional 320,745 shares during the quarter. E Fund Management Co. Ltd. owned 0.31% of Fate Therapeutics worth $1,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new stake in Fate Therapeutics during the 1st quarter valued at about $1,109,000. Vestal Point Capital LP purchased a new stake in Fate Therapeutics during the 4th quarter valued at about $4,825,000. Price T Rowe Associates Inc. MD grew its stake in Fate Therapeutics by 404.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 274,289 shares of the biopharmaceutical company’s stock valued at $2,014,000 after purchasing an additional 219,932 shares during the last quarter. Superstring Capital Management LP purchased a new stake in Fate Therapeutics during the 4th quarter valued at about $3,171,000. Finally, Vanguard Group Inc. grew its stake in Fate Therapeutics by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock valued at $72,747,000 after purchasing an additional 617,644 shares during the last quarter. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FATE has been the topic of several research analyst reports. Piper Sandler upgraded Fate Therapeutics from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $4.00 to $6.00 in a research note on Monday, June 17th. HC Wainwright restated a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research note on Thursday, August 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research note on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.90.

Fate Therapeutics Trading Up 1.0 %

NASDAQ FATE opened at $4.00 on Wednesday. The stock has a market capitalization of $455.33 million, a price-to-earnings ratio of -2.11 and a beta of 1.84. Fate Therapeutics, Inc. has a twelve month low of $1.63 and a twelve month high of $8.83. The stock has a 50-day moving average of $4.00 and a 200 day moving average of $4.63.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.14. The company had revenue of $6.77 million during the quarter, compared to analysts’ expectations of $1.47 million. Fate Therapeutics had a negative return on equity of 44.09% and a negative net margin of 1,426.67%. Equities analysts predict that Fate Therapeutics, Inc. will post -1.73 EPS 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.