BlackRock Inc. Purchases 104,907 Shares of Fate Therapeutics, Inc. (NASDAQ:FATE)


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BlackRock Inc. raised its position in Fate Therapeutics, Inc. (NASDAQ:FATE) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,671,541 shares of the biopharmaceutical company’s stock after acquiring an additional 104,907 shares during the period. BlackRock Inc. owned approximately 0.08% of Fate Therapeutics worth $606,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of FATE. ARK Investment Management LLC raised its stake in shares of Fate Therapeutics by 41.2% in the third quarter. ARK Investment Management LLC now owns 1,439,970 shares of the biopharmaceutical company’s stock valued at $57,556,000 after buying an additional 420,140 shares during the period. Candriam Luxembourg S.C.A. bought a new stake in shares of Fate Therapeutics in the fourth quarter valued at $24,562,000. Cubist Systematic Strategies LLC raised its stake in shares of Fate Therapeutics by 86,372.0% in the third quarter. Cubist Systematic Strategies LLC now owns 86,472 shares of the biopharmaceutical company’s stock valued at $3,456,000 after buying an additional 86,372 shares during the period. Morgan Stanley raised its stake in shares of Fate Therapeutics by 39.0% in the third quarter. Morgan Stanley now owns 282,308 shares of the biopharmaceutical company’s stock valued at $11,284,000 after buying an additional 79,211 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of Fate Therapeutics by 1,651.8% in the third quarter. SG Americas Securities LLC now owns 77,271 shares of the biopharmaceutical company’s stock valued at $3,089,000 after buying an additional 72,860 shares during the period. Hedge funds and other institutional investors own 99.67% of the company’s stock.

In other news, Director Redmile Group, Llc acquired 327,485 shares of the business’s stock in a transaction dated Friday, January 8th. The stock was purchased at an average cost of $85.50 per share, for a total transaction of $27,999,967.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO J Scott Wolchko sold 60,820 shares of the company’s stock in a transaction dated Friday, January 8th. The stock was sold at an average price of $117.10, for a total value of $7,122,022.00. Following the completion of the transaction, the chief executive officer now owns 393,065 shares of the company’s stock, valued at $46,027,911.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 226,651 shares of company stock valued at $25,943,119. 21.41% of the stock is owned by company insiders.

Fate Therapeutics stock opened at $100.96 on Tuesday. Fate Therapeutics, Inc. has a 52 week low of $16.75 and a 52 week high of $121.16. The business has a 50-day simple moving average of $103.75 and a 200 day simple moving average of $65.54. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of -54.87 and a beta of 1.88.

A number of research firms recently issued reports on FATE. BMO Capital Markets boosted their price objective on Fate Therapeutics from $57.00 to $88.00 and gave the company a “market perform” rating in a research note on Monday, January 25th. Wedbush boosted their price objective on Fate Therapeutics from $55.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, December 7th. Stifel Nicolaus boosted their price objective on Fate Therapeutics from $79.00 to $118.00 and gave the company a “buy” rating in a research note on Monday, December 21st. Zacks Investment Research upgraded Fate Therapeutics from a “sell” rating to a “hold” rating and set a $108.00 price objective on the stock in a research note on Friday, February 12th. Finally, HC Wainwright reiterated a “neutral” rating and set a $108.00 price objective on shares of Fate Therapeutics in a research note on Wednesday, January 27th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Fate Therapeutics presently has an average rating of “Buy” and an average price target of $80.63.

About Fate Therapeutics

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its NK- and T-cell immuno-oncology programs under development includes FT516 for the treatment of acute myeloid leukemia (AML) and B-cell lymphoma, FT596 to treat B-cell lymphoma and CLL, FT538 to treat AML and multiple myeloma, FT576 to treat multiple myeloma, FT819 to treat B-cell malignancies, and FT-ONO1 to treat hematologic malignancies; and FT500, FT516, and FT-ONO2 for the treatment of advanced solid tumors.

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Institutional Ownership by Quarter for Fate Therapeutics (NASDAQ:FATE)

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