D. E. Shaw & Co. Inc. Decreases Position in Fate Therapeutics, Inc. (NASDAQ:FATE)

D. E. Shaw & Co. Inc. lessened its holdings in shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Free Report) by 54.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,536,633 shares of the biopharmaceutical company's stock after selling 1,841,017 shares during the period. D. E. Shaw & Co. Inc. owned approximately 1.35% of Fate Therapeutics worth $2,535,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. purchased a new position in Fate Therapeutics in the 4th quarter worth $40,000. Brevan Howard Capital Management LP purchased a new position in Fate Therapeutics in the 4th quarter worth $41,000. FPC Investment Advisory Inc. purchased a new position in Fate Therapeutics in the 4th quarter worth $44,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Fate Therapeutics during the 4th quarter valued at about $58,000. Finally, Intech Investment Management LLC lifted its holdings in shares of Fate Therapeutics by 27.5% in the 4th quarter. Intech Investment Management LLC now owns 39,443 shares of the biopharmaceutical company's stock valued at $65,000 after buying an additional 8,497 shares during the period. Hedge funds and other institutional investors own 97.54% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FATE. Robert W. Baird decreased their price objective on Fate Therapeutics from $5.00 to $4.00 and set a "neutral" rating for the company in a report on Wednesday, May 14th. Barclays decreased their price objective on Fate Therapeutics from $10.00 to $2.00 and set an "overweight" rating for the company in a report on Wednesday, May 14th. Wedbush reissued a "neutral" rating and issued a $5.00 price objective on shares of Fate Therapeutics in a report on Thursday, March 6th. Stifel Nicolaus decreased their price objective on Fate Therapeutics from $5.00 to $3.00 and set a "hold" rating for the company in a report on Thursday, March 6th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Fate Therapeutics in a report on Wednesday, May 14th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $4.14.

Fate Therapeutics Stock Performance

NASDAQ:FATE opened at $1.22 on Tuesday. The company has a fifty day moving average of $1.02 and a two-hundred day moving average of $1.49. The stock has a market capitalization of $139.82 million, a PE ratio of -0.74 and a beta of 2.32. Fate Therapeutics, Inc. has a fifty-two week low of $0.66 and a fifty-two week high of $5.92.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, topping analysts' consensus estimates of ($0.39) by $0.07. The company had revenue of $1.63 million during the quarter, compared to analysts' expectations of $1.18 million. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. Research analysts forecast that Fate Therapeutics, Inc. will post -1.63 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.