Dimensional Fund Advisors LP Grows Position in Fate Therapeutics, Inc. (NASDAQ:FATE)

Dimensional Fund Advisors LP raised its stake in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) by 100.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,130,280 shares of the biopharmaceutical company’s stock after acquiring an additional 1,067,101 shares during the period. Dimensional Fund Advisors LP owned about 1.87% of Fate Therapeutics worth $6,987,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of FATE. Baker BROS. Advisors LP purchased a new stake in shares of Fate Therapeutics in the first quarter valued at about $13,345,000. Vanguard Group Inc. lifted its position in shares of Fate Therapeutics by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock worth $72,747,000 after buying an additional 617,644 shares in the last quarter. Artal Group S.A. purchased a new position in shares of Fate Therapeutics in the 1st quarter worth approximately $2,645,000. Acadian Asset Management LLC grew its holdings in shares of Fate Therapeutics by 17.2% in the second quarter. Acadian Asset Management LLC now owns 2,008,862 shares of the biopharmaceutical company’s stock valued at $6,587,000 after acquiring an additional 294,738 shares in the last quarter. Finally, Caxton Associates LP bought a new position in shares of Fate Therapeutics in the first quarter valued at approximately $2,130,000. 97.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FATE shares. Piper Sandler raised Fate Therapeutics from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $4.00 to $6.00 in a research report on Monday, June 17th. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research report on Wednesday, August 14th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.90.

Fate Therapeutics Stock Up 0.7 %

NASDAQ FATE opened at $3.07 on Wednesday. The stock’s 50-day simple moving average is $3.69 and its two-hundred day simple moving average is $4.18. Fate Therapeutics, Inc. has a twelve month low of $1.63 and a twelve month high of $8.83. The company has a market capitalization of $349.46 million, a price-to-earnings ratio of -1.60 and a beta of 1.83.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings data on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $1.47 million. On average, equities analysts expect that Fate Therapeutics, Inc. will post -1.73 earnings per share for the current fiscal 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.