Mirae Asset Global Investments Co. Ltd. Boosts Holdings in Fate Therapeutics, Inc. (NASDAQ:FATE)

Mirae Asset Global Investments Co. Ltd. raised its holdings in Fate Therapeutics, Inc. (NASDAQ:FATEGet Rating) by 20.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,741 shares of the biopharmaceutical company’s stock after buying an additional 4,411 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Fate Therapeutics were worth $998,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA acquired a new position in shares of Fate Therapeutics in the 1st quarter valued at about $70,000. KRS Capital Management LLC acquired a new position in shares of Fate Therapeutics in the 4th quarter valued at about $125,000. Virtus ETF Advisers LLC lifted its stake in shares of Fate Therapeutics by 39.0% in the 4th quarter. Virtus ETF Advisers LLC now owns 3,274 shares of the biopharmaceutical company’s stock valued at $192,000 after purchasing an additional 918 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Fate Therapeutics by 27.2% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,230 shares of the biopharmaceutical company’s stock valued at $315,000 after purchasing an additional 1,119 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Fate Therapeutics by 20.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 8,734 shares of the biopharmaceutical company’s stock valued at $339,000 after purchasing an additional 1,457 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FATE. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $90.00 price objective on shares of Fate Therapeutics in a research note on Thursday, August 18th. BMO Capital Markets raised Fate Therapeutics from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $50.00 to $47.00 in a research note on Monday, July 11th. Needham & Company LLC started coverage on Fate Therapeutics in a research report on Thursday, July 28th. They set a “hold” rating on the stock. Robert W. Baird started coverage on Fate Therapeutics in a research report on Thursday, June 2nd. They set a “neutral” rating and a $28.00 price target on the stock. Finally, Oppenheimer reduced their price target on Fate Therapeutics from $135.00 to $90.00 in a research report on Thursday, August 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.54.

Fate Therapeutics Stock Down 10.8 %

Shares of FATE opened at $27.53 on Friday. The business’s 50 day moving average is $29.83 and its two-hundred day moving average is $30.61. Fate Therapeutics, Inc. has a 52-week low of $17.10 and a 52-week high of $76.42. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of -10.43 and a beta of 1.62.

Fate Therapeutics (NASDAQ:FATEGet Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.79) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.07. Fate Therapeutics had a negative return on equity of 40.37% and a negative net margin of 371.73%. The business had revenue of $18.55 million during the quarter, compared to the consensus estimate of $13.42 million. On average, equities analysts expect that Fate Therapeutics, Inc. will post -3.4 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Bahram Valamehr sold 17,158 shares of the business’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $30.23, for a total value of $518,686.34. Following the completion of the sale, the insider now directly owns 179,834 shares in the company, valued at approximately $5,436,381.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO J Scott Wolchko sold 30,000 shares of the company’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $32.88, for a total transaction of $986,400.00. Following the completion of the transaction, the chief executive officer now directly owns 431,546 shares in the company, valued at approximately $14,189,232.48. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Bahram Valamehr sold 17,158 shares of the company’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $30.23, for a total value of $518,686.34. Following the transaction, the insider now owns 179,834 shares of the company’s stock, valued at $5,436,381.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,217 shares of company stock worth $1,799,180. 17.34% of the stock is currently owned by insiders.

About Fate Therapeutics

(Get Rating)

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its NK- and T-cell immuno-oncology programs under development include FT516 for the treatment of acute myeloid leukemia (AML) B-cell lymphoma, and advanced solid tumor; FT596 to treat B-cell lymphoma and chronic lymphocytic leukemia; FT538 to treat AML and multiple myeloma; FT576 to treat multiple myeloma; FT819 to treat hematologic malignancies and solid tumors; FT536 to treat solid tumors; and FT500 for the treatment of advanced solid tumors.

Further Reading

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