UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $497,000 Stock Position in Fate Therapeutics, Inc. (NASDAQ:FATE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in Fate Therapeutics, Inc. (NASDAQ:FATE) by 24.6% in the third quarter, HoldingsChannel reports. The fund owned 142,131 shares of the biopharmaceutical company’s stock after selling 46,329 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Fate Therapeutics were worth $497,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in Fate Therapeutics by 23.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 374,132 shares of the biopharmaceutical company’s stock valued at $1,227,000 after purchasing an additional 72,139 shares during the period. Rhumbline Advisers lifted its position in Fate Therapeutics by 11.0% in the 2nd quarter. Rhumbline Advisers now owns 160,001 shares of the biopharmaceutical company’s stock valued at $525,000 after acquiring an additional 15,825 shares in the last quarter. Arizona State Retirement System acquired a new position in Fate Therapeutics during the 2nd quarter valued at about $84,000. Acadian Asset Management LLC increased its holdings in Fate Therapeutics by 17.2% during the 2nd quarter. Acadian Asset Management LLC now owns 2,008,862 shares of the biopharmaceutical company’s stock worth $6,587,000 after purchasing an additional 294,738 shares in the last quarter. Finally, Ausdal Financial Partners Inc. purchased a new stake in shares of Fate Therapeutics in the second quarter worth approximately $33,000. Institutional investors own 97.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research report on Tuesday, November 19th. Wedbush reaffirmed a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a report on Tuesday, November 12th. Finally, Bank of America upgraded shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.75.

Fate Therapeutics Stock Up 1.2 %

Fate Therapeutics stock opened at $1.68 on Friday. The firm has a 50 day moving average price of $2.56 and a 200-day moving average price of $3.34. Fate Therapeutics, Inc. has a twelve month low of $1.59 and a twelve month high of $8.83. The company has a market capitalization of $191.34 million, a P/E ratio of -1.02 and a beta of 1.95.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.02. The business had revenue of $3.07 million during 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%. Equities analysts expect that Fate Therapeutics, Inc. will post -1.72 EPS for the current fiscal year.

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.