Wellington Management Group LLP Makes New Investment in Fate Therapeutics, Inc. $FATE

Wellington Management Group LLP acquired a new stake in Fate Therapeutics, Inc. (NASDAQ:FATE) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 245,814 shares of the biopharmaceutical company’s stock, valued at approximately $664,000.

A number of other institutional investors have also recently modified their holdings of FATE. Callan Family Office LLC acquired a new stake in shares of Fate Therapeutics during the 2nd quarter worth $29,000. Bank of New York Mellon Corp bought a new stake in Fate Therapeutics during the second quarter worth about $31,000. Focus Partners Advisor Solutions LLC bought a new stake in Fate Therapeutics during the second quarter worth about $32,000. Deutsche Bank AG acquired a new stake in Fate Therapeutics during the second quarter worth about $41,000. Finally, Pallas Capital Advisors LLC acquired a new stake in Fate Therapeutics during the second quarter worth about $56,000. 97.54% of the stock is currently owned by institutional investors.

Fate Therapeutics Trading Down 0.9%

Shares of NASDAQ FATE opened at $2.31 on Friday. The company has a market cap of $276.78 million, a price-to-earnings ratio of -2.20 and a beta of 2.54. Fate Therapeutics, Inc. has a 12 month low of $0.94 and a 12 month high of $3.23. The stock has a 50-day moving average price of $2.61 and a two-hundred day moving average price of $2.03.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.25). The company had revenue of $2.08 million for the quarter, compared to the consensus estimate of $1.94 million. Fate Therapeutics had a negative net margin of 1,941.09% and a negative return on equity of 65.08%. On average, sell-side analysts predict that Fate Therapeutics, Inc. will post -1.06 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Fate Therapeutics from $2.50 to $3.50 and gave the company an “equal weight” rating in a research report on Friday, August 14th. Piper Sandler reiterated an “overweight” rating and set a $8.00 price target (up from $6.00) on shares of Fate Therapeutics in a research report on Friday, August 14th. Wedbush reissued an “outperform” rating and issued a $7.00 price objective on shares of Fate Therapeutics in a research note on Friday, August 14th. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Fate Therapeutics in a research report on Monday, June 8th. Finally, Jefferies Financial Group set a $4.00 target price on Fate Therapeutics in a research note on Tuesday, May 19th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.90.

About Fate Therapeutics

Fate Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development of first‐in‐class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off‐the‐shelf natural killer (NK) and T‐cell products designed to overcome limitations of donor‐derived approaches. Fate’s research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.

Central to Fate’s pipeline are multiple iPSC‐derived cell therapy candidates in active clinical development.