Vestal Point Capital LP Has $5.90 Million Holdings in Fate Therapeutics, Inc. (NASDAQ:FATE)

Vestal Point Capital LP lowered its stake in Fate Therapeutics, Inc. (NASDAQ:FATE) by 15.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,685,000 shares of the biopharmaceutical company’s stock after selling 315,000 shares during the quarter. Vestal Point Capital LP owned approximately 1.48% of Fate Therapeutics worth $5,898,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in FATE. Doheny Asset Management CA bought a new position in Fate Therapeutics in the 2nd quarter valued at approximately $263,000. Ausdal Financial Partners Inc. acquired a new position in shares of Fate Therapeutics in the second quarter valued at approximately $33,000. Dark Forest Capital Management LP bought a new position in Fate Therapeutics in the 2nd quarter valued at approximately $63,000. Castleview Partners LLC acquired a new stake in Fate Therapeutics during the 3rd quarter worth approximately $73,000. Finally, DRW Securities LLC acquired a new stake in Fate Therapeutics during the 2nd quarter worth approximately $71,000. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. HC Wainwright reaffirmed a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a research note on Thursday, August 22nd. Bank of America raised Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, November 18th. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research report on Tuesday, November 19th. Finally, Wedbush restated a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.75.

Fate Therapeutics Stock Performance

NASDAQ FATE opened at $3.17 on Friday. Fate Therapeutics, Inc. has a 52 week low of $1.96 and a 52 week high of $8.83. The business has a 50 day moving average price of $2.88 and a 200-day moving average price of $3.50.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.07 million during the quarter, compared to analysts’ expectations of $0.88 million. Equities research analysts forecast that Fate Therapeutics, Inc. will post -1.72 EPS for the current year.

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.