245,814 Shares in Fate Therapeutics, Inc. $FATE Acquired by Wellington Management Group LLP

Wellington Management Group LLP purchased a new stake in Fate Therapeutics, Inc. (NASDAQ:FATE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 245,814 shares of the biopharmaceutical company’s stock, valued at approximately $664,000. Wellington Management Group LLP owned 0.21% of Fate Therapeutics at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC bought a new position in Fate Therapeutics during the fourth quarter worth $26,000. Bridgeway Capital Management LLC bought a new position in shares of Fate Therapeutics in the second quarter valued at about $28,000. Callan Family Office LLC bought a new position in shares of Fate Therapeutics in the second quarter valued at about $29,000. Corient Private Wealth LLC acquired a new stake in shares of Fate Therapeutics during the 4th quarter worth about $29,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Fate Therapeutics during the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 97.54% of the company’s stock.

Fate Therapeutics Stock Performance

Shares of Fate Therapeutics stock opened at $2.31 on Friday. The firm has a 50-day moving average of $2.61 and a 200-day moving average of $2.03. The stock has a market cap of $276.78 million, a PE ratio of -2.20 and a beta of 2.54. Fate Therapeutics, Inc. has a 52-week low of $0.94 and a 52-week high of $3.23.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.25) EPS for the quarter, hitting analysts’ consensus estimates of ($0.25). Fate Therapeutics had a negative net margin of 1,941.09% and a negative return on equity of 65.08%. The business had revenue of $2.08 million for the quarter, compared to analyst estimates of $1.94 million. Equities research analysts predict that Fate Therapeutics, Inc. will post -1.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FATE has been the topic of a number of research reports. Piper Sandler reiterated an “overweight” rating and issued a $8.00 price target (up from $6.00) on shares of Fate Therapeutics in a research note on Friday, August 14th. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Fate Therapeutics in a research report on Monday, June 8th. Jefferies Financial Group set a $4.00 price objective on shares of Fate Therapeutics in a research report on Tuesday, May 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fate Therapeutics in a research report on Friday, August 7th. Finally, Wedbush reiterated an “outperform” rating and set a $7.00 target price on shares of Fate Therapeutics in a research note on Friday, August 14th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Fate Therapeutics currently has an average rating of “Hold” and an average price target of $5.90.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc is a clinical?stage biopharmaceutical company focused on the development of first?in?class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off?the?shelf natural killer (NK) and T?cell products designed to overcome limitations of donor?derived approaches. Fate’s research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.

Central to Fate’s pipeline are multiple iPSC?derived cell therapy candidates in active clinical development.