Fate Therapeutics, Inc. (NASDAQ:FATE) Shares Acquired by Tang Capital Management LLC

Tang Capital Management LLC lifted its stake in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) by 165.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,855,954 shares of the biopharmaceutical company’s stock after purchasing an additional 1,155,954 shares during the period. Tang Capital Management LLC’s holdings in Fate Therapeutics were worth $3,062,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Graham Capital Management L.P. acquired a new stake in shares of Fate Therapeutics during the fourth quarter worth $37,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Fate Therapeutics during the fourth quarter worth $40,000. Brevan Howard Capital Management LP acquired a new stake in shares of Fate Therapeutics during the fourth quarter worth $41,000. FPC Investment Advisory Inc. acquired a new stake in shares of Fate Therapeutics during the fourth quarter worth $44,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Fate Therapeutics during the fourth quarter worth $55,000. 97.54% of the stock is owned by institutional investors and hedge funds.

Fate Therapeutics Price Performance

Shares of FATE stock opened at $1.07 on Friday. Fate Therapeutics, Inc. has a fifty-two week low of $0.66 and a fifty-two week high of $5.92. The stock’s 50-day moving average is $1.01 and its two-hundred day moving average is $1.51. The firm has a market cap of $122.63 million, a P/E ratio of -0.65 and a beta of 2.32.

Fate Therapeutics (NASDAQ:FATE) last issued its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.07. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. The company had revenue of $1.63 million for the quarter, compared to analyst estimates of $1.18 million. As a group, research analysts expect that Fate Therapeutics, Inc. will post -1.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Barclays cut their target price on Fate Therapeutics from $10.00 to $2.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wells Fargo & Company dropped their price target on Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research report on Wednesday. Robert W. Baird dropped their price target on Fate Therapeutics from $5.00 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Wedbush reissued a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a research report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Fate Therapeutics presently has an average rating of “Hold” and a consensus price target of $4.14.

Fate Therapeutics 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.