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. increased 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 and Exchange Commission (SEC). The fund owned 2,203,323 shares of the biopharmaceutical company's stock after purchasing an additional 616,336 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 1.92% of Fate Therapeutics worth $1,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. CWM LLC grew its stake in shares of Fate Therapeutics by 899.6% in the first quarter. CWM LLC now owns 41,435 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 37,290 shares during the last quarter. Graham Capital Management L.P. bought a new stake in shares of Fate Therapeutics in the fourth quarter worth about $37,000. Brevan Howard Capital Management LP bought a new stake in shares of Fate Therapeutics in the fourth quarter worth about $41,000. Caption Management LLC bought a new stake in shares of Fate Therapeutics in the first quarter worth about $45,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Fate Therapeutics in the fourth quarter worth about $55,000. 97.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Robert W. Baird cut their price objective on Fate Therapeutics from $5.00 to $4.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 14th. Wall Street Zen raised Fate Therapeutics from a "sell" rating to a "hold" rating in a research report on Monday, August 18th. Barclays cut their price objective on Fate Therapeutics from $10.00 to $2.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of Fate Therapeutics in a research report on Thursday, June 12th. Finally, Wells Fargo & Company cut their price objective 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. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $3.30.

Fate Therapeutics Stock Up 2.1%

Shares of NASDAQ FATE opened at $1.00 on Thursday. Fate Therapeutics, Inc. has a twelve month low of $0.66 and a twelve month high of $4.20. The firm has a market cap of $115.33 million, a P/E ratio of -0.69 and a beta of 2.21. The company has a 50 day moving average of $1.10 and a 200 day moving average of $1.10.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced its earnings results on Tuesday, August 12th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating analysts' consensus estimates of ($0.35) by $0.06. The business had revenue of $1.91 million during the quarter, compared to analyst estimates of $1.16 million. Fate Therapeutics had a negative net margin of 2,025.05% and a negative return on equity of 50.95%. As a group, equities analysts expect that Fate Therapeutics, Inc. will post -1.63 earnings per share for the current fiscal year.

About Fate Therapeutics

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.

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