Jacobs Levy Equity Management Inc. Acquires 616,336 Shares of Fate Therapeutics, Inc. $FATE

Key Points

• Jacobs Levy Equity Management Inc. increased its holdings in Fate Therapeutics by 38.8%, purchasing an additional 616,336 shares, bringing its total to 2,203,323 shares valued at approximately $1.74 million.
• Fate Therapeutics' stock has faced various ratings changes, with price targets cut significantly, including a reduction from $5.00 to $4.00 by Robert W. Baird, reflecting a cautious outlook from analysts.
• The company reported better-than-expected earnings, with a loss of ($0.29) per share against estimates of ($0.35), and revenue of $1.91 million, surpassing analyst expectations.

Jacobs Levy Equity Management Inc. grew its holdings in Fate Therapeutics, Inc. (NASDAQ:FATE - Free Report) by 38.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,203,323 shares of the biopharmaceutical company's stock after acquiring an additional 616,336 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.92% of Fate Therapeutics worth $1,741,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Nuveen LLC purchased a new stake in shares of Fate Therapeutics in the first quarter worth about $300,000. Squarepoint Ops LLC lifted its position in shares of Fate Therapeutics by 154.2% in the fourth quarter. Squarepoint Ops LLC now owns 34,295 shares of the biopharmaceutical company's stock worth $57,000 after buying an additional 20,805 shares in the last quarter. Millennium Management LLC lifted its position in shares of Fate Therapeutics by 28.9% in the fourth quarter. Millennium Management LLC now owns 413,192 shares of the biopharmaceutical company's stock worth $682,000 after buying an additional 92,576 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Fate Therapeutics by 65.2% in the fourth quarter. BNP Paribas Financial Markets now owns 287,711 shares of the biopharmaceutical company's stock worth $475,000 after buying an additional 113,563 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Fate Therapeutics by 77.9% in the fourth quarter. ProShare Advisors LLC now owns 33,645 shares of the biopharmaceutical company's stock worth $56,000 after buying an additional 14,728 shares in the last quarter. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on FATE shares. Needham & Company LLC reiterated a "hold" rating on shares of Fate Therapeutics in a research report on Thursday, June 12th. Wells Fargo & Company decreased their target price on Fate Therapeutics from $4.00 to $2.50 and set an "equal weight" rating on the stock in a research report on Wednesday, August 13th. Finally, Wall Street Zen raised Fate Therapeutics from a "sell" rating to a "hold" rating in a research note on Monday, August 18th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $3.30.

Fate Therapeutics Price Performance

Shares of FATE traded down $0.01 during mid-day trading on Tuesday, reaching $0.95. 841,705 shares of the company's stock traded hands, compared to its average volume of 1,318,093. The stock has a market cap of $109.64 million, a P/E ratio of -0.66 and a beta of 2.21. The stock's 50-day moving average is $1.09 and its two-hundred day moving average is $1.10. Fate Therapeutics, Inc. has a 12 month low of $0.66 and a 12 month high of $4.20.

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