Fate Therapeutics, Inc. $FATE Shares Bought by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its stake in Fate Therapeutics by 67.8%, owning over 2.47 million shares after purchasing an additional 999,773 shares in the first quarter.
• Fate Therapeutics reported quarterly earnings of ($0.29) EPS, beating expectations and generating $1.91 million in revenue for the quarter.
• Currently, 97.54% of Fate Therapeutics' stock is held by institutional investors and hedge funds, indicating strong institutional interest in the company.

Acadian Asset Management LLC lifted its holdings in Fate Therapeutics, Inc. (NASDAQ:FATE - Free Report) by 67.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,473,565 shares of the biopharmaceutical company's stock after purchasing an additional 999,773 shares during the quarter. Acadian Asset Management LLC owned about 2.16% of Fate Therapeutics worth $1,952,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of FATE. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Fate Therapeutics by 38.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,203,323 shares of the biopharmaceutical company's stock worth $1,741,000 after purchasing an additional 616,336 shares during the period. Nuveen LLC acquired a new stake in shares of Fate Therapeutics during the first quarter worth about $300,000. Squarepoint Ops LLC lifted its holdings in shares of Fate Therapeutics by 154.2% during the fourth quarter. Squarepoint Ops LLC now owns 34,295 shares of the biopharmaceutical company's stock worth $57,000 after purchasing an additional 20,805 shares during the period. Millennium Management LLC lifted its holdings in shares of Fate Therapeutics by 28.9% during the fourth quarter. Millennium Management LLC now owns 413,192 shares of the biopharmaceutical company's stock worth $682,000 after purchasing an additional 92,576 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Fate Therapeutics by 65.2% during the fourth quarter. BNP Paribas Financial Markets now owns 287,711 shares of the biopharmaceutical company's stock worth $475,000 after purchasing an additional 113,563 shares during the period. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FATE. Wells Fargo & Company decreased their price objective on Fate Therapeutics from $4.00 to $2.50 and set an "equal weight" rating for the company in a report on Wednesday, August 13th. Needham & Company LLC reissued a "hold" rating on shares of Fate Therapeutics in a report on Thursday, June 12th. Finally, Wall Street Zen raised Fate Therapeutics from a "sell" rating to a "hold" rating in a report on Monday, August 18th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $3.30.

Fate Therapeutics Price Performance

FATE traded down $0.04 during trading hours on Friday, reaching $0.96. The company's stock had a trading volume of 1,928,607 shares, compared to its average volume of 1,291,843. Fate Therapeutics, Inc. has a fifty-two week low of $0.66 and a fifty-two week high of $4.00. The stock has a market cap of $110.98 million, a PE ratio of -0.66 and a beta of 2.21. The business's 50-day moving average is $1.08 and its 200-day moving average is $1.10.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating analysts' consensus estimates of ($0.35) by $0.06. Fate Therapeutics had a negative return on equity of 50.95% and a negative net margin of 2,025.05%.The firm had revenue of $1.91 million for the quarter, compared to analysts' expectations of $1.16 million. Analysts expect that Fate Therapeutics, Inc. will post -1.63 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.