Vestal Point Capital LP Purchases 780,000 Shares of Fate Therapeutics, Inc. (NASDAQ:FATE)

Vestal Point Capital LP raised its position in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) by 46.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,465,000 shares of the biopharmaceutical company’s stock after purchasing an additional 780,000 shares during the quarter. Vestal Point Capital LP’s holdings in Fate Therapeutics were worth $4,067,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Squarepoint Ops LLC boosted its holdings in shares of Fate Therapeutics by 154.2% during the 4th quarter. Squarepoint Ops LLC now owns 34,295 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 20,805 shares during the last quarter. Tang Capital Management LLC boosted its holdings in shares of Fate Therapeutics by 165.1% during the 4th quarter. Tang Capital Management LLC now owns 1,855,954 shares of the biopharmaceutical company’s stock valued at $3,062,000 after acquiring an additional 1,155,954 shares during the last quarter. Sphera Funds Management LTD. purchased a new stake in shares of Fate Therapeutics during the 4th quarter valued at about $655,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Fate Therapeutics during the 4th quarter valued at about $55,000. Finally, ProShare Advisors LLC boosted its holdings in shares of Fate Therapeutics by 77.9% during the 4th quarter. ProShare Advisors LLC now owns 33,645 shares of the biopharmaceutical company’s stock valued at $56,000 after acquiring an additional 14,728 shares during the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Price Performance

Shares of NASDAQ:FATE opened at $1.07 on Monday. Fate Therapeutics, Inc. has a 1-year low of $0.66 and a 1-year high of $5.92. The company has a market capitalization of $122.63 million, a P/E ratio of -0.65 and a beta of 2.32. The firm’s 50 day simple moving average is $1.01 and its two-hundred day simple moving average is $1.50.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.07. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. The business had revenue of $1.63 million for the quarter, compared to the consensus estimate of $1.18 million. On average, sell-side analysts anticipate that Fate Therapeutics, Inc. will post -1.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on FATE. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a report on Wednesday, May 14th. Wells Fargo & Company dropped their price objective on shares of Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Robert W. Baird dropped their price objective on shares of Fate Therapeutics from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, May 14th. StockNews.com raised shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Barclays dropped their price objective on shares of Fate Therapeutics from $10.00 to $2.00 and set an “overweight” rating on the stock in a report on Wednesday, May 14th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $4.14.

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.