Tower Research Capital LLC TRC Sells 25,593 Shares of Fate Therapeutics, Inc. (NASDAQ:FATE)

Tower Research Capital LLC TRC cut its position in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) by 62.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,233 shares of the biopharmaceutical company’s stock after selling 25,593 shares during the period. Tower Research Capital LLC TRC’s holdings in Fate Therapeutics were worth $57,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FATE. Fox Run Management L.L.C. purchased a new stake in shares of Fate Therapeutics during the 3rd quarter worth approximately $25,000. Simplicity Solutions LLC purchased a new stake in Fate Therapeutics during the third quarter valued at $25,000. National Bank of Canada FI bought a new position in Fate Therapeutics during the third quarter valued at $25,000. Vanguard Personalized Indexing Management LLC bought a new position in Fate Therapeutics during the third quarter valued at $30,000. Finally, Epiq Partners LLC purchased a new position in shares of Fate Therapeutics in the 4th quarter worth $38,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Wall Street Analysts Forecast Growth

FATE has been the topic of several recent research reports. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research report on Thursday, April 11th. HC Wainwright reaffirmed a “neutral” rating and issued a $7.00 price objective on shares of Fate Therapeutics in a research note on Tuesday, March 19th. BMO Capital Markets lifted their target price on Fate Therapeutics from $6.00 to $7.00 and gave the stock a “market perform” rating in a report on Tuesday, February 27th. Bank of America increased their price target on Fate Therapeutics from $2.00 to $6.00 and gave the company an “underperform” rating in a report on Thursday, March 28th. Finally, Wedbush reaffirmed a “neutral” rating and set a $7.00 price objective on shares of Fate Therapeutics in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fate Therapeutics has a consensus rating of “Hold” and an average price target of $6.73.

Fate Therapeutics Trading Up 6.3 %

Shares of NASDAQ FATE traded up $0.24 during mid-day trading on Monday, reaching $4.04. The company had a trading volume of 3,305,199 shares, compared to its average volume of 2,788,812. Fate Therapeutics, Inc. has a 52 week low of $1.63 and a 52 week high of $8.83. The business’s 50-day moving average is $6.59 and its 200-day moving average is $4.62. The stock has a market cap of $459.83 million, a price-to-earnings ratio of -2.46 and a beta of 1.66.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.12. Fate Therapeutics had a negative net margin of 253.30% and a negative return on equity of 38.17%. The firm had revenue of $1.68 million during the quarter, compared to the consensus estimate of $0.85 million. During the same quarter in the previous year, the firm posted ($0.58) earnings per share. As a group, equities research analysts forecast that Fate Therapeutics, Inc. will post -1.94 earnings per share for the current year.

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.