Fate Therapeutics, Inc. (NASDAQ:FATE) Shares Acquired by Algert Global LLC

Algert Global LLC raised its holdings in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) by 318.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 65,611 shares of the biopharmaceutical company’s stock after purchasing an additional 49,931 shares during the quarter. Algert Global LLC’s holdings in Fate Therapeutics were worth $215,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Fate Therapeutics in the 1st quarter worth $432,000. BNP Paribas Financial Markets lifted its stake in Fate Therapeutics by 100.9% during the first quarter. BNP Paribas Financial Markets now owns 46,962 shares of the biopharmaceutical company’s stock valued at $345,000 after buying an additional 23,582 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Fate Therapeutics during the first quarter valued at about $1,109,000. Vanguard Group Inc. boosted its holdings in shares of Fate Therapeutics by 6.6% in the first quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock worth $72,747,000 after buying an additional 617,644 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Fate Therapeutics by 404.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 274,289 shares of the biopharmaceutical company’s stock worth $2,014,000 after acquiring an additional 219,932 shares in the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on FATE shares. HC Wainwright restated a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Piper Sandler upgraded Fate Therapeutics from a “neutral” rating to an “overweight” rating and increased their target price for the company from $4.00 to $6.00 in a report on Monday, June 17th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Fate Therapeutics has an average rating of “Hold” and a consensus target price of $6.90.

Fate Therapeutics Trading Down 2.3 %

FATE opened at $2.94 on Friday. The stock has a fifty day moving average price of $3.60 and a 200 day moving average price of $4.16. Fate Therapeutics, Inc. has a 1 year low of $1.63 and a 1 year high of $8.83. The stock has a market cap of $334.67 million, a price-to-earnings ratio of -1.53 and a beta of 1.83.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.14. Fate Therapeutics had a negative return on equity of 44.09% and a negative net margin of 1,426.67%. The business had revenue of $6.77 million during the quarter, compared to analyst estimates of $1.47 million. As a group, sell-side analysts forecast that Fate Therapeutics, Inc. will post -1.73 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.