Wells Fargo & Company MN raised its holdings in shares of Fate Therapeutics Inc (NASDAQ:FATE) by 240.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 479,015 shares of the biopharmaceutical company’s stock after buying an additional 338,130 shares during the quarter. Wells Fargo & Company MN owned about 0.73% of Fate Therapeutics worth $9,725,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FATE. Victory Capital Management Inc. grew its holdings in shares of Fate Therapeutics by 49.7% during the first quarter. Victory Capital Management Inc. now owns 1,974,174 shares of the biopharmaceutical company’s stock worth $34,686,000 after buying an additional 655,314 shares in the last quarter. Nikko Asset Management Americas Inc. purchased a new stake in shares of Fate Therapeutics during the second quarter worth $10,329,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Fate Therapeutics during the second quarter worth $10,329,000. Jennison Associates LLC grew its holdings in shares of Fate Therapeutics by 108.6% in the first quarter. Jennison Associates LLC now owns 487,044 shares of the biopharmaceutical company’s stock valued at $8,557,000 after purchasing an additional 253,540 shares during the period. Finally, ARK Investment Management LLC purchased a new stake in shares of Fate Therapeutics in the second quarter valued at about $4,508,000. 96.59% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently issued reports on FATE shares. Zacks Investment Research raised shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, July 10th. CIBC started coverage on shares of Fate Therapeutics in a report on Friday, July 12th. They issued an “outperform” rating and a $27.00 price objective for the company. Piper Jaffray Companies upped their price objective on shares of Fate Therapeutics from $23.00 to $30.00 and gave the company a “top pick” rating in a report on Thursday, June 27th. BMO Capital Markets set a $27.00 price objective on shares of Fate Therapeutics and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Guggenheim started coverage on shares of Fate Therapeutics in a report on Thursday, May 30th. They issued a “buy” rating and a $25.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Fate Therapeutics currently has an average rating of “Buy” and a consensus target price of $25.00.

In other news, insider Daniel D. Shoemaker sold 12,500 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $20.21, for a total transaction of $252,625.00. Following the sale, the insider now owns 148,091 shares of the company’s stock, valued at $2,992,919.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amir Nashat sold 62,005 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $22.53, for a total transaction of $1,396,972.65. The disclosure for this sale can be found here. Insiders sold 395,141 shares of company stock worth $8,867,333 in the last ninety days. 23.19% of the stock is currently owned by corporate insiders.

NASDAQ FATE traded down $0.51 during trading hours on Thursday, reaching $17.88. The company had a trading volume of 155,889 shares, compared to its average volume of 714,268. The stock has a 50-day moving average of $18.76 and a 200 day moving average of $18.37. Fate Therapeutics Inc has a 1-year low of $11.00 and a 1-year high of $22.82. The company has a current ratio of 5.61, a quick ratio of 5.61 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $1.20 billion, a P/E ratio of -15.00 and a beta of 1.82.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.36) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.04). Fate Therapeutics had a negative net margin of 934.70% and a negative return on equity of 50.05%. The company had revenue of $2.80 million during the quarter, compared to analyst estimates of $1.09 million. During the same period in the previous year, the company earned ($0.37) EPS. The company’s quarterly revenue was up 180.0% compared to the same quarter last year. As a group, sell-side analysts predict that Fate Therapeutics Inc will post -1.44 EPS for the current year.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc operates as a biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorder. The firm programme cellular therapeutics for the treatment of life threatening diseases, hematologic malignancies, genetic disorders and diseases resulting from the dysregulation of the immune system.

Further Reading: Initial Coin Offering (ICO)

Institutional Ownership by Quarter for Fate Therapeutics (NASDAQ:FATE)

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