487,728 Shares in Fate Therapeutics, Inc. $FATE Acquired by Ieq Capital LLC

Key Points

• Ieq Capital LLC acquired 487,728 shares of Fate Therapeutics in the second quarter, valued at approximately $1.32 million. Institutional investors collectively own 97.54% of the company.
• Fate Therapeutics reported quarterly revenue of $2.08 million and a loss of $0.25 per share, in line with analyst expectations. The company continues to post deeply negative margins and analysts expect a full-year loss of $1.06 per share.
• Analyst views remain mixed, with a consensus rating of “Hold” and an average price target of $5.90, compared with the stock’s recent price of $2.57. Price targets range from $3.50 to $8.00, alongside one “Sell” rating.

Ieq Capital LLC bought a new position in Fate Therapeutics, Inc. (NASDAQ:FATE - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 487,728 shares of the biopharmaceutical company's stock, valued at approximately $1,317,000. Ieq Capital LLC owned approximately 0.42% of Fate Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in FATE. Callan Family Office LLC bought a new position in Fate Therapeutics during the second quarter worth about $29,000. BlackRock Inc. bought a new position in shares of Fate Therapeutics in the 2nd quarter worth approximately $19,707,000. Pallas Capital Advisors LLC purchased a new position in Fate Therapeutics in the 2nd quarter worth approximately $56,000. Deutsche Bank AG bought a new stake in Fate Therapeutics during the second quarter valued at approximately $41,000. Finally, Bank of New York Mellon Corp bought a new position in Fate Therapeutics in the 2nd quarter worth $31,000. 97.54% of the stock is owned by institutional investors.

Fate Therapeutics Stock Performance

Shares of FATE opened at $2.57 on Thursday. The company's 50-day simple moving average is $2.60 and its 200-day simple moving average is $1.94. Fate Therapeutics, Inc. has a 1 year low of $0.93 and a 1 year high of $3.23. The stock has a market capitalization of $307.94 million, a PE ratio of -2.45 and a beta of 2.52.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.25). Fate Therapeutics had a negative return on equity of 65.08% and a negative net margin of 1,941.09%.The company had revenue of $2.08 million during the quarter, compared to the consensus estimate of $1.94 million. On average, sell-side analysts predict that Fate Therapeutics, Inc. will post -1.06 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on FATE. Wedbush reaffirmed an "outperform" rating and set a $7.00 target price on shares of Fate Therapeutics in a research note on Friday, August 14th. Wells Fargo & Company raised their price target on shares of Fate Therapeutics from $2.50 to $3.50 and gave the company an "equal weight" rating in a report on Friday, August 14th. Jefferies Financial Group set a $4.00 price objective on Fate Therapeutics in a research report on Tuesday, May 19th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Fate Therapeutics in a report on Friday, August 7th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $8.00 price target (up from $6.00) on shares of Fate Therapeutics in a report on Friday, August 14th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Fate Therapeutics presently has an average rating of "Hold" and a consensus price target of $5.90.

About Fate Therapeutics

Fate Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development of first‐in‐class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off‐the‐shelf natural killer (NK) and T‐cell products designed to overcome limitations of donor‐derived approaches. Fate's research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.

Central to Fate's pipeline are multiple iPSC‐derived cell therapy candidates in active clinical development.

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