Renaissance Technologies LLC grew its stake in Fate Therapeutics, Inc. (NASDAQ:FATE - Free Report) by 26.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,974,683 shares of the biopharmaceutical company's stock after acquiring an additional 613,802 shares during the quarter. Renaissance Technologies LLC owned 2.56% of Fate Therapeutics worth $3,570,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Russell Investments Group Ltd. grew its position in shares of Fate Therapeutics by 73.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company's stock valued at $36,000 after acquiring an additional 12,114 shares during the period. SG Americas Securities LLC increased its stake in shares of Fate Therapeutics by 161.2% in the 4th quarter. SG Americas Securities LLC now owns 38,913 shares of the biopharmaceutical company's stock worth $38,000 after purchasing an additional 24,013 shares in the last quarter. Bank of America Corp DE raised its holdings in Fate Therapeutics by 20.0% in the 3rd quarter. Bank of America Corp DE now owns 146,553 shares of the biopharmaceutical company's stock worth $185,000 after purchasing an additional 24,423 shares during the period. Bridgeway Capital Management LLC bought a new position in Fate Therapeutics in the 2nd quarter worth $28,000. Finally, Commonwealth Equity Services LLC purchased a new position in Fate Therapeutics during the fourth quarter valued at $26,000. 97.54% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Fate Therapeutics
In other news, insider Cindy Tahl sold 25,590 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $1.88, for a total transaction of $48,109.20. Following the sale, the insider directly owned 628,155 shares of the company's stock, valued at $1,180,931.40. This represents a 3.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.74% of the stock is currently owned by insiders.
Fate Therapeutics Stock Performance
FATE opened at $2.80 on Friday. The stock has a market capitalization of $326.37 million, a price-to-earnings ratio of -2.57 and a beta of 2.52. The company has a fifty day moving average of $2.47 and a 200 day moving average of $1.81. Fate Therapeutics, Inc. has a fifty-two week low of $0.91 and a fifty-two week high of $3.23.
Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.03. Fate Therapeutics had a negative net margin of 2,056.79% and a negative return on equity of 58.89%. The business had revenue of $1.30 million for the quarter, compared to analysts' expectations of $1.49 million. On average, equities research analysts forecast that Fate Therapeutics, Inc. will post -1.04 earnings per share for the current year.
Analyst Ratings Changes
A number of analysts have commented on the company. HC Wainwright restated a "buy" rating and issued a $7.00 price target on shares of Fate Therapeutics in a research report on Monday, June 8th. Weiss Ratings raised Fate Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, May 13th. Finally, Jefferies Financial Group set a $4.00 price objective on Fate Therapeutics in a research note on Tuesday, May 19th. Three 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 company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $5.12.
Check Out Our Latest Stock Report on Fate Therapeutics
Fate Therapeutics Profile
(
Free Report)
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.
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