Charles Schwab Investment Management Inc. Sells 115,567 Shares of Fate Therapeutics, Inc. (NASDAQ:FATE)

Charles Schwab Investment Management Inc. trimmed its holdings in Fate Therapeutics, Inc. (NASDAQ:FATE) by 13.1% in the third quarter, HoldingsChannel reports. The fund owned 763,808 shares of the biopharmaceutical company’s stock after selling 115,567 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Fate Therapeutics were worth $2,673,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Perceptive Advisors LLC bought a new stake in shares of Fate Therapeutics in the 2nd quarter worth approximately $1,133,000. Deerfield Management Company L.P. Series C lifted its holdings 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 acquiring an additional 1,365,463 shares during the last quarter. Integral Health Asset Management LLC lifted its holdings in shares of Fate Therapeutics by 325.0% in the 2nd quarter. Integral Health Asset Management LLC now owns 850,000 shares of the biopharmaceutical company’s stock worth $2,788,000 after acquiring an additional 650,000 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Fate Therapeutics in the 2nd quarter worth approximately $1,799,000. Finally, E Fund Management Co. Ltd. increased its stake in shares of Fate Therapeutics by 930.2% in the second quarter. E Fund Management Co. Ltd. now owns 355,225 shares of the biopharmaceutical company’s stock worth $1,165,000 after buying an additional 320,745 shares during the period. 97.54% of the stock is currently owned by institutional investors.

Fate Therapeutics Trading Down 4.9 %

Shares of Fate Therapeutics stock opened at $1.83 on Monday. The firm has a market cap of $208.42 million, a P/E ratio of -1.11 and a beta of 1.95. Fate Therapeutics, Inc. has a 12 month low of $1.82 and a 12 month high of $8.83. The stock’s fifty day moving average price is $2.66 and its 200-day moving average price is $3.39.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results 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%. Analysts forecast that Fate Therapeutics, Inc. will post -1.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wedbush reaffirmed a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research note on Tuesday, November 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research note on Tuesday, November 19th. Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, November 18th. Finally, HC Wainwright reissued a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Fate Therapeutics presently has a consensus rating of “Hold” and an average price target of $6.75.

About Fate Therapeutics

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.