Vestal Point Capital LP Increases Stock Position in Fate Therapeutics, Inc. (NASDAQ:FATE)

Vestal Point Capital LP raised its position in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) by 46.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,465,000 shares of the biopharmaceutical company’s stock after buying an additional 780,000 shares during the period. Vestal Point Capital LP owned about 2.16% of Fate Therapeutics worth $4,067,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FATE. Graham Capital Management L.P. purchased a new stake in Fate Therapeutics during the 4th quarter valued at $37,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Fate Therapeutics in the 4th quarter worth about $40,000. Brevan Howard Capital Management LP purchased a new stake in shares of Fate Therapeutics in the 4th quarter worth about $41,000. FPC Investment Advisory Inc. purchased a new stake in shares of Fate Therapeutics in the 4th quarter worth about $44,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Fate Therapeutics in the 4th quarter worth about $55,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Analyst Upgrades and Downgrades

FATE has been the subject of several research analyst reports. StockNews.com raised shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research report on Wednesday, May 14th. Stifel Nicolaus dropped their target price on shares of Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating for the company in a research report on Thursday, March 6th. Barclays dropped their target price on shares of Fate Therapeutics from $10.00 to $2.00 and set an “overweight” rating for the company in a research report on Wednesday, May 14th. Finally, Robert W. Baird decreased their price target on shares of Fate Therapeutics from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Wednesday, May 14th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $4.14.

Fate Therapeutics Price Performance

Shares of Fate Therapeutics stock opened at $1.07 on Monday. The firm has a market cap of $122.63 million, a price-to-earnings ratio of -0.65 and a beta of 2.32. Fate Therapeutics, Inc. has a 1 year low of $0.66 and a 1 year high of $5.92. The company has a 50-day moving average of $1.01 and a 200 day moving average of $1.50.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.07. The business had revenue of $1.63 million during the quarter, compared to analyst estimates of $1.18 million. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. On average, equities analysts anticipate that Fate Therapeutics, Inc. will post -1.63 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.