Perceptive Advisors LLC Purchases New Position in Fate Therapeutics, Inc. (NASDAQ:FATE)

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

A number of other hedge funds have also recently added to or reduced their stakes in FATE. Baker BROS. Advisors LP bought a new position in Fate Therapeutics during the 1st quarter worth $13,345,000. Deerfield Management Company L.P. Series C boosted its holdings in shares of Fate Therapeutics by 62.3% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,555,871 shares of the biopharmaceutical company's stock valued at $11,663,000 after purchasing an additional 1,365,463 shares in the last quarter. Vestal Point Capital LP acquired a new stake in shares of Fate Therapeutics in the 4th quarter valued at $4,825,000. Dimensional Fund Advisors LP boosted its holdings in shares of Fate Therapeutics by 100.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,130,280 shares of the biopharmaceutical company's stock valued at $6,987,000 after acquiring an additional 1,067,101 shares in the last quarter. Finally, Superstring Capital Management LP acquired a new stake in shares of Fate Therapeutics during the 4th quarter valued at $3,171,000. Institutional investors own 97.54% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on FATE. HC Wainwright reaffirmed a "neutral" rating and set a $5.00 target price on shares of Fate Therapeutics in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Fate Therapeutics in a report on Wednesday, August 14th. Finally, Piper Sandler raised Fate Therapeutics from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $4.00 to $6.00 in a report on Monday, June 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Fate Therapeutics has an average rating of "Hold" and an average target price of $6.90.

Fate Therapeutics Price Performance

FATE stock traded down $0.07 during trading on Monday, reaching $3.50. The company had a trading volume of 1,215,535 shares, compared to its average volume of 2,316,503. The business has a 50 day moving average of $3.95 and a 200 day moving average of $4.35. Fate Therapeutics, Inc. has a 52 week low of $1.63 and a 52 week high of $8.83. The company has a market cap of $398.41 million, a P/E ratio of -1.82 and a beta of 1.84.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced its quarterly earnings data 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. Research analysts expect that Fate Therapeutics, Inc. will post -1.73 earnings per share for the current year.

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.