Fate Therapeutics, Inc. (NASDAQ:FATE) Stock Holdings Lessened by AQR Capital Management LLC

AQR Capital Management LLC trimmed its stake in Fate Therapeutics, Inc. (NASDAQ:FATE) by 25.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,460 shares of the biopharmaceutical company’s stock after selling 5,638 shares during the quarter. AQR Capital Management LLC’s holdings in Fate Therapeutics were worth $54,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Doheny Asset Management CA purchased a new stake in shares of Fate Therapeutics in the second quarter worth approximately $263,000. Ausdal Financial Partners Inc. purchased a new stake in shares of Fate Therapeutics in the second quarter worth approximately $33,000. DRW Securities LLC purchased a new stake in shares of Fate Therapeutics in the second quarter worth approximately $71,000. Arizona State Retirement System purchased a new stake in shares of Fate Therapeutics in the second quarter worth approximately $84,000. Finally, Headlands Technologies LLC lifted its position in shares of Fate Therapeutics by 5,258.6% in the second quarter. Headlands Technologies LLC now owns 28,508 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 27,976 shares in the last quarter. 97.54% of the stock is owned by hedge funds and other institutional investors.

Fate Therapeutics Trading Up 0.3 %

Shares of Fate Therapeutics stock opened at $3.23 on Friday. The company’s fifty day simple moving average is $3.50 and its 200-day simple moving average is $4.00. The company has a market cap of $367.68 million, a price-to-earnings ratio of -1.68 and a beta of 1.83. Fate Therapeutics, Inc. has a 1 year low of $1.63 and a 1 year high of $8.83.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. HC Wainwright reissued a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Fate Therapeutics currently has a consensus rating of “Hold” and an average target price of $6.90.

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.