Fate Therapeutics, Inc. (NASDAQ:FATE) Shares Acquired by Deerfield Management Company L.P. Series C

Deerfield Management Company L.P. Series C lifted its stake in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) by 62.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,555,871 shares of the biopharmaceutical company’s stock after acquiring an additional 1,365,463 shares during the period. Deerfield Management Company L.P. Series C owned 3.12% of Fate Therapeutics worth $11,663,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ausdal Financial Partners Inc. purchased a new position in Fate Therapeutics during the second quarter worth about $33,000. Victory Capital Management Inc. lifted its holdings in Fate Therapeutics by 22.8% in the fourth quarter. Victory Capital Management Inc. now owns 12,504 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 2,322 shares during the last quarter. DRW Securities LLC purchased a new position in Fate Therapeutics in the second quarter worth approximately $71,000. Arizona State Retirement System purchased a new position in Fate Therapeutics in the second quarter worth approximately $84,000. Finally, Headlands Technologies LLC increased its stake in Fate Therapeutics by 5,258.6% during the second quarter. Headlands Technologies LLC now owns 28,508 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 27,976 shares during the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.

Analyst Upgrades and Downgrades

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

Fate Therapeutics Price Performance

Shares of FATE stock opened at $3.45 on Thursday. Fate Therapeutics, Inc. has a 52 week low of $1.63 and a 52 week high of $8.83. The firm has a 50 day moving average of $4.00 and a two-hundred day moving average of $4.46. The stock has a market capitalization of $392.89 million, a PE ratio of -1.80 and a beta of 1.84.

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