Institute for Wealth Management LLC. Takes $110,000 Position in Fate Therapeutics, Inc. (NASDAQ:FATE)

Institute for Wealth Management LLC. acquired a new position in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 66,886 shares of the biopharmaceutical company’s stock, valued at approximately $110,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of Fate Therapeutics by 100.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,130,280 shares of the biopharmaceutical company’s stock valued at $6,987,000 after buying an additional 1,067,101 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Fate Therapeutics in the second quarter worth $422,000. Algert Global LLC grew its position in shares of Fate Therapeutics by 318.4% during the second quarter. Algert Global LLC now owns 65,611 shares of the biopharmaceutical company’s stock worth $215,000 after acquiring an additional 49,931 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Fate Therapeutics by 40.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 42,289 shares of the biopharmaceutical company’s stock worth $148,000 after purchasing an additional 12,230 shares during the last quarter. Finally, Castleview Partners LLC bought a new stake in shares of Fate Therapeutics during the third quarter valued at approximately $73,000. Institutional investors and hedge funds own 97.54% of the company’s stock.

Fate Therapeutics Stock Down 5.1 %

Shares of NASDAQ FATE opened at $1.30 on Friday. Fate Therapeutics, Inc. has a 52-week low of $1.04 and a 52-week high of $8.83. The stock has a market capitalization of $148.06 million, a price-to-earnings ratio of -0.79 and a beta of 2.02. The stock’s fifty day simple moving average is $1.85 and its 200 day simple moving average is $2.90.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.02. 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 $3.07 million during the quarter, compared to the consensus estimate of $0.88 million. As a group, analysts anticipate that Fate Therapeutics, Inc. will post -1.63 earnings per share for the current year.

Insider Activity at Fate Therapeutics

In related news, Director Redmile Group, Llc purchased 397,964 shares of the stock in a transaction dated Friday, December 20th. The shares were acquired at an average cost of $1.68 per share, for a total transaction of $668,579.52. Following the acquisition, the director now directly owns 12,884,277 shares in the company, valued at approximately $21,645,585.36. The trade was a 3.19 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FATE shares. Bank of America upgraded Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, November 18th. Wedbush reaffirmed a “neutral” rating and issued a $5.00 price target 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 research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.75.

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.