Acadian Asset Management LLC Trims Stock Position in Fate Therapeutics, Inc. (NASDAQ:FATE)

Acadian Asset Management LLC lessened its position in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) by 24.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,714,124 shares of the biopharmaceutical company’s stock after selling 567,047 shares during the quarter. Acadian Asset Management LLC owned about 1.51% of Fate Therapeutics worth $12,581,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FATE. Assenagon Asset Management S.A. increased its holdings in Fate Therapeutics by 1,462.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,548,304 shares of the biopharmaceutical company’s stock valued at $18,705,000 after purchasing an additional 2,385,207 shares during the last quarter. Vestal Point Capital LP acquired a new stake in Fate Therapeutics in the 4th quarter valued at approximately $4,825,000. Superstring Capital Management LP acquired a new stake in Fate Therapeutics in the 4th quarter valued at approximately $3,171,000. Vanguard Group Inc. increased its holdings in Fate Therapeutics by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock valued at $72,747,000 after purchasing an additional 617,644 shares during the last quarter. Finally, Monaco Asset Management SAM increased its holdings in Fate Therapeutics by 18.1% in the 4th quarter. Monaco Asset Management SAM now owns 2,183,228 shares of the biopharmaceutical company’s stock valued at $8,165,000 after purchasing an additional 335,284 shares during the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Bank of America lifted their target price on shares of Fate Therapeutics from $2.00 to $6.00 and gave the company an “underperform” rating in a report on Thursday, March 28th. HC Wainwright dropped their price target on shares of Fate Therapeutics from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Thursday, May 16th. BMO Capital Markets dropped their price target on shares of Fate Therapeutics from $7.00 to $6.00 and set a “market perform” rating for the company in a research note on Friday, May 10th. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research note on Thursday, April 11th. Finally, Wedbush restated a “neutral” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research note on Monday, May 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Fate Therapeutics currently has an average rating of “Hold” and an average price target of $6.75.

Fate Therapeutics Price Performance

Shares of Fate Therapeutics stock traded down $0.04 during trading on Friday, hitting $4.27. 1,004,212 shares of the stock were exchanged, compared to its average volume of 2,230,591. The stock has a market cap of $486.05 million, a price-to-earnings ratio of -2.22 and a beta of 1.90. The firm’s 50-day moving average price is $3.66 and its 200 day moving average price is $5.12. Fate Therapeutics, Inc. has a 12-month low of $1.63 and a 12-month high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.47) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.47). Fate Therapeutics had a negative net margin of 2,933.79% and a negative return on equity of 46.49%. The business had revenue of $1.93 million during the quarter, compared to analysts’ expectations of $0.80 million. During the same period in the previous year, the company earned ($0.19) EPS. As a group, research analysts forecast that Fate Therapeutics, Inc. will post -1.9 earnings per share for the current 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.