China Universal Asset Management Co. Ltd. Invests $40,000 in Fate Therapeutics, Inc. (NASDAQ:FATE)

China Universal Asset Management Co. Ltd. acquired a new position in Fate Therapeutics, Inc. (NASDAQ:FATE) in the 4th quarter, Holdings Channel.com reports. The firm acquired 24,150 shares of the biopharmaceutical company’s stock, valued at approximately $40,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of FATE. SG Americas Securities LLC lifted its stake in Fate Therapeutics by 30.6% in the fourth quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company’s stock worth $74,000 after purchasing an additional 10,511 shares during the last quarter. Geode Capital Management LLC lifted its stake in Fate Therapeutics by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company’s stock worth $7,905,000 after purchasing an additional 10,863 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in Fate Therapeutics by 40.7% in the third quarter. Exchange Traded Concepts LLC now owns 42,289 shares of the biopharmaceutical company’s stock worth $148,000 after purchasing an additional 12,230 shares during the last quarter. Castleview Partners LLC bought a new stake in Fate Therapeutics in the third quarter worth about $73,000. Finally, Thrivent Financial for Lutherans lifted its stake in Fate Therapeutics by 24.7% in the third quarter. Thrivent Financial for Lutherans now owns 125,370 shares of the biopharmaceutical company’s stock worth $439,000 after purchasing an additional 24,804 shares during the last quarter. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FATE has been the subject of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research note on Tuesday, November 19th. Wedbush reissued a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research note on Tuesday, November 12th. Finally, Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, November 18th. 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.75.

Fate Therapeutics Stock Up 3.1 %

Shares of FATE stock opened at $1.31 on Wednesday. The firm has a market cap of $149.20 million, a price-to-earnings ratio of -0.79 and a beta of 2.02. The company’s 50 day moving average is $1.80 and its 200 day moving average is $2.85. Fate Therapeutics, Inc. has a 52-week low of $1.04 and a 52-week high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.02. The company had revenue of $3.07 million for the quarter, compared to analyst estimates of $0.88 million. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. Analysts anticipate that Fate Therapeutics, Inc. will post -1.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Redmile Group, Llc purchased 397,964 shares of the business’s stock in a transaction on Friday, December 20th. The shares were acquired at an average cost of $1.68 per share, with a total value of $668,579.52. Following the completion of the acquisition, the director now owns 12,884,277 shares of the company’s stock, valued at $21,645,585.36. This trade represents a 3.19 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.00% of the company’s stock.

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.