574,995 Shares in Fate Therapeutics, Inc. $FATE Acquired by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management acquired 574,995 shares of Fate Therapeutics, valued at approximately $1.55 million, giving it a 0.49% stake. Institutional investors collectively own 97.54% of the company.
• Analyst sentiment is mixed, with four Buy, three Hold, and one Sell rating; the consensus rating is Hold with an average price target of $5.90.
• Fate Therapeutics shares opened at $2.43 after declining 4.3%. The company reported a quarterly loss of $0.25 per share, in line with estimates, and revenue of $2.08 million, slightly above expectations.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Fate Therapeutics, Inc. (NASDAQ:FATE - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 574,995 shares of the biopharmaceutical company's stock, valued at approximately $1,552,000. Connor Clark & Lunn Investment Management Ltd. owned 0.49% of Fate Therapeutics at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Callan Family Office LLC bought a new position in shares of Fate Therapeutics during the second quarter worth $29,000. Bank of New York Mellon Corp purchased a new stake in Fate Therapeutics in the 2nd quarter worth $31,000. Focus Partners Advisor Solutions LLC bought a new position in shares of Fate Therapeutics during the 2nd quarter valued at about $32,000. Russell Investments Group Ltd. boosted its holdings in shares of Fate Therapeutics by 73.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company's stock valued at $36,000 after purchasing an additional 12,114 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of Fate Therapeutics during the second quarter valued at about $41,000. 97.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on FATE. Wells Fargo & Company boosted their target price on Fate Therapeutics from $2.50 to $3.50 and gave the stock an "equal weight" rating in a research report on Friday, August 14th. Piper Sandler restated an "overweight" rating and set a $8.00 price target (up from $6.00) on shares of Fate Therapeutics in a report on Friday, August 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Fate Therapeutics in a research note on Friday, August 7th. Jefferies Financial Group set a $4.00 price objective on Fate Therapeutics in a report on Tuesday, May 19th. Finally, HC Wainwright reiterated a "buy" rating and set a $7.00 target price on shares of Fate Therapeutics in a research report on Monday, June 8th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $5.90.

Fate Therapeutics Trading Down 4.3%

Shares of NASDAQ FATE opened at $2.43 on Friday. Fate Therapeutics, Inc. has a 12-month low of $0.93 and a 12-month high of $3.23. The firm's 50-day moving average price is $2.61 and its 200-day moving average price is $1.95. The stock has a market capitalization of $291.16 million, a price-to-earnings ratio of -2.31 and a beta of 2.52.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.25) EPS for the quarter, hitting the consensus estimate 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 analyst estimates of $1.94 million. On average, equities analysts predict that Fate Therapeutics, Inc. will post -1.06 EPS for the current fiscal year.

Fate Therapeutics Company Profile

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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