Cornercap Investment Counsel Inc. Decreases Stake in Fate Therapeutics, Inc. (NASDAQ:FATE)

Cornercap Investment Counsel Inc. decreased its holdings in Fate Therapeutics, Inc. (NASDAQ:FATE) by 52.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 20,683 shares of the biopharmaceutical company’s stock after selling 22,789 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Fate Therapeutics were worth $72,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baker BROS. Advisors LP purchased a new stake in Fate Therapeutics during the 1st quarter worth $13,345,000. Deerfield Management Company L.P. Series C grew its stake in shares of Fate Therapeutics by 62.3% in the second quarter. Deerfield Management Company L.P. Series C now owns 3,555,871 shares of the biopharmaceutical company’s stock valued at $11,663,000 after buying an additional 1,365,463 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Fate Therapeutics by 100.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,130,280 shares of the biopharmaceutical company’s stock valued at $6,987,000 after buying an additional 1,067,101 shares during the period. Integral Health Asset Management LLC lifted its position in Fate Therapeutics by 325.0% during 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 in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Fate Therapeutics by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock worth $72,747,000 after acquiring an additional 617,644 shares during the period. 97.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research report on Wednesday, November 13th. Bank of America upgraded Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday. Wedbush reissued a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a report on Tuesday, November 12th. Finally, HC Wainwright restated a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Fate Therapeutics has a consensus rating of “Hold” and an average price target of $6.89.

Fate Therapeutics Trading Up 12.4 %

Fate Therapeutics stock opened at $2.27 on Tuesday. Fate Therapeutics, Inc. has a 52 week low of $1.96 and a 52 week high of $8.83. The stock has a market cap of $258.54 million, a price-to-earnings ratio of -1.38 and a beta of 1.88. The company’s 50-day moving average price is $3.09 and its two-hundred day moving average price is $3.57.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.02. The firm had revenue of $3.07 million for the quarter, compared to analysts’ expectations of $0.88 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. Research analysts expect that Fate Therapeutics, Inc. will post -1.72 earnings per share 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.