Fate Therapeutics, Inc. (NASDAQ:FATE) Position Reduced by AQR Capital Management LLC

AQR Capital Management LLC trimmed its stake in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) by 25.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,460 shares of the biopharmaceutical company’s stock after selling 5,638 shares during the quarter. AQR Capital Management LLC’s holdings in Fate Therapeutics were worth $54,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in FATE. Squarepoint Ops LLC acquired a new stake in shares of Fate Therapeutics during the second quarter worth $422,000. Integral Health Asset Management LLC raised its holdings in shares of Fate Therapeutics by 325.0% during the second quarter. Integral Health Asset Management LLC now owns 850,000 shares of the biopharmaceutical company’s stock worth $2,788,000 after purchasing an additional 650,000 shares during the period. DRW Securities LLC acquired a new stake in shares of Fate Therapeutics during the second quarter worth $71,000. XTX Topco Ltd raised its holdings in shares of Fate Therapeutics by 95.0% during the second quarter. XTX Topco Ltd now owns 33,898 shares of the biopharmaceutical company’s stock worth $111,000 after purchasing an additional 16,510 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in shares of Fate Therapeutics by 34.3% during the second quarter. Hsbc Holdings PLC now owns 88,514 shares of the biopharmaceutical company’s stock worth $283,000 after purchasing an additional 22,583 shares during the period. 97.54% of the stock is currently owned by institutional investors.

Fate Therapeutics Stock Up 0.3 %

Shares of FATE opened at $3.23 on Friday. The firm has a 50-day moving average price of $3.50 and a 200 day moving average price of $4.00. The firm has a market capitalization of $367.68 million, a PE ratio of -1.68 and a beta of 1.83. Fate Therapeutics, Inc. has a 52-week low of $1.63 and a 52-week high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results 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. The firm had revenue of $6.77 million during the quarter, compared to analyst estimates of $1.47 million. Fate Therapeutics had a negative net margin of 1,426.67% and a negative return on equity of 44.09%. On average, equities analysts expect that Fate Therapeutics, Inc. will post -1.73 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FATE. 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 issued a $5.00 price objective on shares of Fate Therapeutics in a report on Thursday, August 22nd. 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 presently has an average rating of “Hold” and an average target price of $6.90.

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.