BIT Capital GmbH Makes New Investment in Fate Therapeutics, Inc. (NASDAQ:FATE)

BIT Capital GmbH purchased a new stake in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 247,564 shares of the biopharmaceutical company’s stock, valued at approximately $408,000. BIT Capital GmbH owned about 0.22% of Fate Therapeutics as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FATE. China Universal Asset Management Co. Ltd. bought a new stake in shares of Fate Therapeutics during the 4th quarter worth $40,000. FPC Investment Advisory Inc. acquired a new position in Fate Therapeutics during the 4th quarter worth $44,000. Y Intercept Hong Kong Ltd bought a new stake in Fate Therapeutics during the fourth quarter valued at about $58,000. Intech Investment Management LLC grew its position in shares of Fate Therapeutics by 27.5% in the fourth quarter. Intech Investment Management LLC now owns 39,443 shares of the biopharmaceutical company’s stock valued at $65,000 after purchasing an additional 8,497 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of 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 period. Institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Trading Down 5.4 %

Shares of FATE stock opened at $0.85 on Thursday. Fate Therapeutics, Inc. has a 1 year low of $0.84 and a 1 year high of $7.65. The firm’s 50 day moving average is $1.19 and its 200-day moving average is $2.12. The firm has a market capitalization of $97.88 million, a price-to-earnings ratio of -0.52 and a beta of 2.26.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.13. The company had revenue of $1.86 million during the quarter, compared to the consensus estimate of $1.57 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. On average, equities research analysts forecast that Fate Therapeutics, Inc. will post -1.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wedbush restated a “neutral” rating and set a $5.00 target price on shares of Fate Therapeutics in a research note on Thursday, March 6th. Stifel Nicolaus lowered their price objective on shares of Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating on the stock in a research note on Thursday, March 6th. Wells Fargo & Company cut their target price on shares of Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. StockNews.com lowered shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, March 11th. Finally, Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.50.

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.