Bruce & Co. Inc. Has $984,000 Position in Fate Therapeutics, Inc. (NASDAQ:FATE)

Bruce & Co. Inc. grew its holdings in Fate Therapeutics, Inc. (NASDAQ:FATE) by 109.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 300,000 shares of the biopharmaceutical company’s stock after purchasing an additional 157,000 shares during the period. Bruce & Co. Inc. owned approximately 0.26% of Fate Therapeutics worth $984,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Doheny Asset Management CA purchased a new stake in Fate Therapeutics in the 2nd quarter worth about $263,000. Ausdal Financial Partners Inc. purchased a new stake in shares of Fate Therapeutics in the second quarter worth approximately $33,000. Simplicity Wealth LLC acquired a new stake in shares of Fate Therapeutics during the first quarter worth approximately $81,000. RPO LLC purchased a new position in Fate Therapeutics during the fourth quarter valued at approximately $46,000. Finally, Victory Capital Management Inc. grew its position in Fate Therapeutics by 22.8% during the fourth quarter. Victory Capital Management Inc. now owns 12,504 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 2,322 shares in the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.

Fate Therapeutics Stock Performance

NASDAQ:FATE opened at $4.02 on Monday. The company has a 50-day moving average of $3.98 and a 200-day moving average of $4.65. Fate Therapeutics, Inc. has a 52 week low of $1.63 and a 52 week high of $8.83. The company has a market capitalization of $457.80 million, a price-to-earnings ratio of -2.09 and a beta of 1.84.

Fate Therapeutics (NASDAQ:FATE) last issued its earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.14. The business had revenue of $6.77 million during the quarter, compared to analysts’ expectations of $1.47 million. Fate Therapeutics had a negative return on equity of 44.09% and a negative net margin of 1,426.67%. Sell-side analysts forecast that Fate Therapeutics, Inc. will post -1.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Piper Sandler raised shares of Fate Therapeutics from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $4.00 to $6.00 in a research note on Monday, June 17th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research report on Wednesday, August 14th. Finally, 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.90.

Fate Therapeutics 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.