FPC Investment Advisory Inc. Takes $44,000 Position in Fate Therapeutics, Inc. (NASDAQ:FATE)

FPC Investment Advisory Inc. bought a new stake in Fate Therapeutics, Inc. (NASDAQ:FATE) in the 4th quarter, Holdings Channel.com reports. The firm bought 26,456 shares of the biopharmaceutical company’s stock, valued at approximately $44,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Fate Therapeutics in the 4th quarter valued at about $40,000. Intech Investment Management LLC purchased a new stake in shares of Fate Therapeutics in the 3rd quarter valued at about $108,000. SG Americas Securities LLC lifted its holdings in shares of Fate Therapeutics by 30.6% in the 4th quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 10,511 shares during the last quarter. Privium Fund Management B.V. purchased a new stake in Fate Therapeutics during the 3rd quarter valued at approximately $175,000. Finally, Institute for Wealth Management LLC. purchased a new stake in Fate Therapeutics during the 4th quarter valued at approximately $110,000. 97.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FATE has been the subject of several analyst reports. Bank of America raised Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, November 18th. Wedbush reaffirmed a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a research note on Tuesday, November 12th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.75.

Insider Transactions at Fate Therapeutics

In other news, Director Redmile Group, Llc acquired 397,964 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average cost of $1.68 per share, with a total value of $668,579.52. Following the completion of the acquisition, the director now directly owns 12,884,277 shares in the company, valued at $21,645,585.36. This represents a 3.19 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.00% of the company’s stock.

Fate Therapeutics Price Performance

Shares of FATE opened at $1.42 on Friday. The stock’s 50-day moving average is $1.49 and its two-hundred day moving average is $2.53. The stock has a market cap of $161.72 million, a PE ratio of -0.86 and a beta of 2.02. Fate Therapeutics, Inc. has a 12 month low of $1.04 and a 12 month high of $8.83.

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.