Vestal Point Capital LP Sells 315,000 Shares of Fate Therapeutics, Inc. (NASDAQ:FATE)

Vestal Point Capital LP trimmed its position in Fate Therapeutics, Inc. (NASDAQ:FATE) by 15.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,685,000 shares of the biopharmaceutical company’s stock after selling 315,000 shares during the period. Vestal Point Capital LP’s holdings in Fate Therapeutics were worth $5,898,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FATE. Deerfield Management Company L.P. Series C boosted its stake in shares of Fate Therapeutics by 62.3% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,555,871 shares of the biopharmaceutical company’s stock worth $11,663,000 after buying an additional 1,365,463 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Fate Therapeutics by 100.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,130,280 shares of the biopharmaceutical company’s stock valued at $6,987,000 after buying an additional 1,067,101 shares during the period. Integral Health Asset Management LLC increased its holdings in Fate Therapeutics by 325.0% during the second quarter. Integral Health Asset Management LLC now owns 850,000 shares of the biopharmaceutical company’s stock worth $2,788,000 after buying an additional 650,000 shares during the last quarter. Vanguard Group Inc. raised its position in Fate Therapeutics by 6.6% in the first quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock worth $72,747,000 after acquiring an additional 617,644 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Fate Therapeutics in the second quarter valued at about $1,799,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Analysts Set New Price Targets

FATE has been the subject of a number of recent research reports. HC Wainwright reissued a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Bank of America upgraded shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, November 18th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a report on Tuesday, November 19th. Finally, Wedbush reiterated a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.75.

Fate Therapeutics Trading Up 18.3 %

Shares of NASDAQ:FATE opened at $3.17 on Friday. The firm has a fifty day moving average of $2.88 and a 200 day moving average of $3.50. Fate Therapeutics, Inc. has a 52-week low of $1.96 and a 52-week high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.02. The firm had revenue of $3.07 million for the quarter, compared to analyst estimates of $0.88 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. As a group, equities analysts anticipate that Fate Therapeutics, Inc. will post -1.72 earnings per share for the current fiscal year.

Fate Therapeutics Company Profile

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.