Callan Family Office LLC Makes New Investment in Fate Therapeutics, Inc. (NASDAQ:FATE)

Callan Family Office LLC acquired a new position in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 82,024 shares of the biopharmaceutical company’s stock, valued at approximately $65,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in Fate Therapeutics by 9.6% during the 4th quarter. Franklin Resources Inc. now owns 165,353 shares of the biopharmaceutical company’s stock worth $273,000 after purchasing an additional 14,532 shares in the last quarter. ProShare Advisors LLC grew its position in Fate Therapeutics by 77.9% during the 4th quarter. ProShare Advisors LLC now owns 33,645 shares of the biopharmaceutical company’s stock worth $56,000 after purchasing an additional 14,728 shares in the last quarter. Renaissance Technologies LLC grew its position in Fate Therapeutics by 4.4% during the 4th quarter. Renaissance Technologies LLC now owns 378,619 shares of the biopharmaceutical company’s stock worth $625,000 after purchasing an additional 16,000 shares in the last quarter. Hsbc Holdings PLC grew its position in Fate Therapeutics by 22.0% during the 4th quarter. Hsbc Holdings PLC now owns 109,422 shares of the biopharmaceutical company’s stock worth $179,000 after purchasing an additional 19,706 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in Fate Therapeutics by 154.2% during the 4th quarter. Squarepoint Ops LLC now owns 34,295 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 20,805 shares in the last quarter. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Fate Therapeutics Trading Up 1.9%

FATE stock opened at $1.09 on Friday. Fate Therapeutics, Inc. has a 1 year low of $0.66 and a 1 year high of $4.20. The company has a fifty day simple moving average of $1.16 and a 200 day simple moving average of $1.14. The firm has a market cap of $125.71 million, a PE ratio of -0.75 and a beta of 2.24.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Tuesday, August 12th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.06. Fate Therapeutics had a negative net margin of 2,025.05% and a negative return on equity of 50.95%. The business had revenue of $1.91 million during the quarter, compared to analyst estimates of $1.16 million. As a group, analysts forecast that Fate Therapeutics, Inc. will post -1.63 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Barclays lowered their price objective on shares of Fate Therapeutics from $10.00 to $2.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 14th. Wells Fargo & Company decreased their target price on shares of Fate Therapeutics from $4.00 to $2.50 and set an “equal weight” rating for the company in a research note on Wednesday. Wall Street Zen lowered shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, August 10th. Robert W. Baird decreased their target price on shares of Fate Therapeutics from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Wednesday, May 14th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research note on Thursday, June 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $3.58.

Fate Therapeutics Company 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.