Perceptive Advisors LLC Invests $1.13 Million in Fate Therapeutics, Inc. (NASDAQ:FATE)

Perceptive Advisors LLC acquired a new position in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 345,575 shares of the biopharmaceutical company’s stock, valued at approximately $1,133,000. Perceptive Advisors LLC owned approximately 0.30% of Fate Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in FATE. Vestal Point Capital LP bought a new position in shares of Fate Therapeutics in the fourth quarter valued at approximately $4,825,000. Superstring Capital Management LP bought a new position in shares of Fate Therapeutics in the fourth quarter worth $3,171,000. Pennant Investors LP purchased a new stake in shares of Fate Therapeutics in the fourth quarter worth $546,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Fate Therapeutics during the first quarter worth about $432,000. Finally, BNP Paribas Financial Markets increased its stake in Fate Therapeutics by 100.9% in the 1st quarter. BNP Paribas Financial Markets now owns 46,962 shares of the biopharmaceutical company’s stock worth $345,000 after acquiring an additional 23,582 shares during the last quarter. Institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Price Performance

FATE opened at $3.57 on Monday. Fate Therapeutics, Inc. has a 1 year low of $1.63 and a 1 year high of $8.83. The stock’s 50 day simple moving average is $3.97 and its 200 day simple moving average is $4.37. The firm has a market cap of $406.38 million, a price-to-earnings ratio of -1.86 and a beta of 1.84.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on FATE shares. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a report on Wednesday, August 14th. HC Wainwright reissued a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a report on Thursday, August 22nd. Finally, Piper Sandler raised shares of Fate Therapeutics from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $4.00 to $6.00 in a report on Monday, June 17th. Two 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.90.

Fate Therapeutics Company 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.