Fate Therapeutics, Inc. (NASDAQ:FATE) Position Increased by Acadian Asset Management LLC

Acadian Asset Management LLC lifted its position in Fate Therapeutics, Inc. (NASDAQ:FATE) by 17.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,008,862 shares of the biopharmaceutical company’s stock after acquiring an additional 294,738 shares during the period. Acadian Asset Management LLC’s holdings in Fate Therapeutics were worth $6,587,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in FATE. Vanguard Group Inc. boosted its stake in Fate Therapeutics by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock worth $72,747,000 after purchasing an additional 617,644 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Fate Therapeutics by 1.0% in the second quarter. Assenagon Asset Management S.A. now owns 2,574,703 shares of the biopharmaceutical company’s stock valued at $8,445,000 after purchasing an additional 26,399 shares in the last quarter. Baker BROS. Advisors LP purchased a new stake in shares of Fate Therapeutics in the first quarter valued at $13,345,000. Vestal Point Capital LP acquired a new stake in shares of Fate Therapeutics in the fourth quarter worth $4,825,000. Finally, Superstring Capital Management LP purchased a new position in shares of Fate Therapeutics during the fourth quarter valued at $3,171,000. 97.54% of the stock is owned by hedge funds and other institutional investors.

Fate Therapeutics Stock Performance

NASDAQ:FATE opened at $3.88 on Thursday. The company has a market capitalization of $441.67 million, a P/E ratio of -2.02 and a beta of 1.84. The stock’s 50 day moving average price is $3.95 and its 200 day moving average price is $4.71. Fate Therapeutics, Inc. has a 52 week low of $1.63 and a 52 week high of $8.83.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. HC Wainwright reissued a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research note on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research report on Wednesday, August 14th. Finally, Piper Sandler raised shares of Fate Therapeutics from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $4.00 to $6.00 in a research report on Monday, June 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.90.

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.