Johnson & Johnson Buys New Stake in Fate Therapeutics, Inc. $FATE

Johnson & Johnson bought a new position in shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,379,064 shares of the biopharmaceutical company's stock, valued at approximately $9,123,473. Fate Therapeutics accounts for about 0.0% of Johnson & Johnson's holdings, making the stock its 10th largest position. Johnson & Johnson owned about 2.90% of Fate Therapeutics at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC boosted its position in Fate Therapeutics by 87.0% in the 4th quarter. Renaissance Technologies LLC now owns 2,360,881 shares of the biopharmaceutical company's stock valued at $2,320,000 after buying an additional 1,098,366 shares during the last quarter. Irenic Capital Management LP acquired a new stake in shares of Fate Therapeutics in the first quarter valued at $1,054,000. Two Sigma Investments LP raised its stake in Fate Therapeutics by 294.4% during the 3rd quarter. Two Sigma Investments LP now owns 900,757 shares of the biopharmaceutical company's stock worth $1,135,000 after buying an additional 672,352 shares during the period. AQR Capital Management LLC grew its stake in shares of Fate Therapeutics by 296.4% in the first quarter. AQR Capital Management LLC now owns 585,025 shares of the biopharmaceutical company's stock valued at $462,000 after buying an additional 437,423 shares in the last quarter. Finally, Jane Street Group LLC grew its position in Fate Therapeutics by 631.4% during the second quarter. Jane Street Group LLC now owns 465,820 shares of the biopharmaceutical company's stock worth $522,000 after buying an additional 402,129 shares in the last quarter. Hedge funds and other institutional investors own 97.54% of the company's stock.

Fate Therapeutics Stock Down 3.1%

Shares of FATE stock traded down $0.08 during trading hours on Friday, reaching $2.46. The company's stock had a trading volume of 389,316 shares, compared to its average volume of 2,595,401. The company has a market capitalization of $294.76 million, a price-to-earnings ratio of -2.34 and a beta of 2.52. Fate Therapeutics, Inc. has a fifty-two week low of $0.93 and a fifty-two week high of $3.23. The firm's 50 day simple moving average is $2.60 and its 200-day simple moving average is $1.95.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.25) EPS for the quarter, hitting analysts' consensus estimates of ($0.25). The firm had revenue of $2.08 million during the quarter, compared to analyst estimates of $1.94 million. Fate Therapeutics had a negative return on equity of 65.08% and a negative net margin of 1,941.09%. Sell-side analysts predict that Fate Therapeutics, Inc. will post -1.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FATE shares. Piper Sandler reiterated an "overweight" rating and set a $8.00 price target (up from $6.00) on shares of Fate Therapeutics in a research note on Friday, August 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Fate Therapeutics in a research report on Friday, August 7th. HC Wainwright reiterated a "buy" rating and issued a $7.00 target price on shares of Fate Therapeutics in a research report on Monday, June 8th. Wedbush restated an "outperform" rating and set a $7.00 price target on shares of Fate Therapeutics in a research note on Friday, August 14th. Finally, Wells Fargo & Company lifted their target price on shares of Fate Therapeutics from $2.50 to $3.50 and gave the stock an "equal weight" rating in a research note on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $5.90.

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.