Squarepoint Ops LLC Makes New $422,000 Investment in Fate Therapeutics, Inc. (NASDAQ:FATE)

Squarepoint Ops LLC acquired a new stake in Fate Therapeutics, Inc. (NASDAQ:FATE) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 128,759 shares of the biopharmaceutical company’s stock, valued at approximately $422,000. Squarepoint Ops LLC owned approximately 0.11% of Fate Therapeutics at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of FATE. Massachusetts Financial Services Co. MA boosted its position in shares of Fate Therapeutics by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 167,055 shares of the biopharmaceutical company’s stock worth $548,000 after purchasing an additional 5,605 shares during the last quarter. Doheny Asset Management CA acquired a new stake in shares of Fate Therapeutics in the 2nd quarter valued at approximately $263,000. Ausdal Financial Partners Inc. bought a new position in Fate Therapeutics during the 2nd quarter worth approximately $33,000. Rhumbline Advisers grew its holdings in Fate Therapeutics by 11.0% during the second quarter. Rhumbline Advisers now owns 160,001 shares of the biopharmaceutical company’s stock valued at $525,000 after purchasing an additional 15,825 shares during the period. Finally, XTX Topco Ltd increased its stake in Fate Therapeutics by 95.0% in the second quarter. XTX Topco Ltd now owns 33,898 shares of the biopharmaceutical company’s stock valued at $111,000 after purchasing an additional 16,510 shares in the last quarter. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Fate Therapeutics Price Performance

Fate Therapeutics stock opened at $2.94 on Friday. Fate Therapeutics, Inc. has a one year low of $1.63 and a one year high of $8.83. The company has a market cap of $334.67 million, a price-to-earnings ratio of -1.53 and a beta of 1.83. The firm has a 50-day moving average of $3.60 and a 200-day moving average of $4.16.

Fate Therapeutics (NASDAQ:FATE) last issued its earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) EPS for the quarter, topping the consensus estimate 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 company had revenue of $6.77 million during the quarter, compared to the consensus estimate of $1.47 million. As a group, sell-side analysts expect that Fate Therapeutics, Inc. will post -1.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a report on Wednesday, August 14th. HC Wainwright reaffirmed a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Finally, Piper Sandler upgraded Fate Therapeutics from a “neutral” rating to an “overweight” rating and boosted their price objective 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. According to data from MarketBeat.com, Fate Therapeutics currently has an average rating of “Hold” and an average price target of $6.90.

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.