Walleye Capital LLC Sells 1,010,806 Shares of Fate Therapeutics, Inc. $FATE

Key Points

• Walleye Capital LLC significantly reduced its stake in Fate Therapeutics, Inc. by 93.3% in the first quarter, leaving it with only 72,286 shares valued at $57,000.
• Despite Walleye's decrease, other institutional investors increased their holdings, with CWM LLC raising its position by 899.6%.
• Fate Therapeutics reported a larger than expected net loss in its recent earnings, yet its revenue for the quarter surpassed consensus estimates.

Walleye Capital LLC trimmed its stake in shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Free Report) by 93.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,286 shares of the biopharmaceutical company's stock after selling 1,010,806 shares during the quarter. Walleye Capital LLC owned approximately 0.06% of Fate Therapeutics worth $57,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Graham Capital Management L.P. bought a new position in shares of Fate Therapeutics during the fourth quarter worth about $37,000. Brevan Howard Capital Management LP bought a new stake in Fate Therapeutics in the fourth quarter worth approximately $41,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Fate Therapeutics in the fourth quarter worth approximately $55,000. ProShare Advisors LLC increased its holdings in 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 purchasing an additional 14,728 shares in the last quarter. Finally, Squarepoint Ops LLC increased its holdings in 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 purchasing an additional 20,805 shares in the last quarter. 97.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FATE shares. Needham & Company LLC reiterated a "hold" rating on shares of Fate Therapeutics in a report on Thursday, June 12th. Wall Street Zen upgraded Fate Therapeutics from a "sell" rating to a "hold" rating in a report on Monday, August 18th. Finally, Wells Fargo & Company lowered their target price on Fate Therapeutics from $4.00 to $2.50 and set an "equal weight" rating for the company in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Fate Therapeutics currently has an average rating of "Hold" and a consensus price target of $3.30.

Fate Therapeutics Stock Performance

Shares of NASDAQ FATE traded down $0.06 during midday trading on Friday, hitting $0.96. 1,440,492 shares of the stock traded hands, compared to its average volume of 1,353,270. The company has a market cap of $111.07 million, a PE ratio of -0.66 and a beta of 2.21. Fate Therapeutics, Inc. has a one year low of $0.66 and a one year high of $4.20. The business has a 50 day moving average price of $1.09 and a two-hundred day moving average price of $1.10.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.06. The firm had revenue of $1.91 million during the quarter, compared to the consensus estimate of $1.16 million. Fate Therapeutics had a negative return on equity of 50.95% and a negative net margin of 2,025.05%. As a group, equities research analysts forecast that Fate Therapeutics, Inc. will post -1.63 EPS for the current fiscal 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.