Renaissance Technologies LLC Takes Position in Fate Therapeutics, Inc. (NASDAQ:FATE)

Renaissance Technologies LLC purchased a new position in Fate Therapeutics, Inc. (NASDAQ:FATE - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 548,544 shares of the biopharmaceutical company's stock, valued at approximately $1,799,000. Renaissance Technologies LLC owned 0.48% of Fate Therapeutics at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FATE. Vestal Point Capital LP acquired a new position in shares of Fate Therapeutics in the 4th quarter valued at about $4,825,000. Superstring Capital Management LP acquired a new position in Fate Therapeutics in the fourth quarter valued at approximately $3,171,000. Pennant Investors LP purchased a new stake in Fate Therapeutics in the 4th quarter worth approximately $546,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Fate Therapeutics during the 1st quarter worth approximately $432,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Fate Therapeutics by 100.9% during the 1st quarter. BNP Paribas Financial Markets now owns 46,962 shares of the biopharmaceutical company's stock valued at $345,000 after purchasing an additional 23,582 shares in the last quarter. 97.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FATE shares. HC Wainwright reissued a "neutral" rating and set a $5.00 price target on shares of Fate Therapeutics in a report on Thursday, August 22nd. Needham & Company LLC reiterated a "hold" rating on shares of Fate Therapeutics in a research report on Wednesday, August 14th. Finally, Piper Sandler upgraded Fate Therapeutics from a "neutral" rating to an "overweight" rating and raised their target price for the company from $4.00 to $6.00 in a research report on Monday, June 17th. Two equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $6.90.

Fate Therapeutics Price Performance

Fate Therapeutics stock traded up $0.10 during midday trading on Friday, reaching $3.22. The company had a trading volume of 935,050 shares, compared to its average volume of 2,289,493. Fate Therapeutics, Inc. has a 12-month low of $1.63 and a 12-month high of $8.83. The firm's fifty day simple moving average is $3.82 and its 200-day simple moving average is $4.30. The company has a market capitalization of $366.54 million, a P/E ratio of -1.68 and a beta of 1.84.

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

Fate Therapeutics 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.