Renaissance Technologies LLC Increases Holdings in Fate Therapeutics, Inc. $FATE

Renaissance Technologies LLC lifted its holdings in Fate Therapeutics, Inc. (NASDAQ:FATE) by 26.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,974,683 shares of the biopharmaceutical company’s stock after acquiring an additional 613,802 shares during the period. Renaissance Technologies LLC’s holdings in Fate Therapeutics were worth $3,570,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FATE. Vanguard Group Inc. raised its position in Fate Therapeutics by 0.4% during the third quarter. Vanguard Group Inc. now owns 8,798,491 shares of the biopharmaceutical company’s stock valued at $11,086,000 after purchasing an additional 31,727 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Fate Therapeutics by 7.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,429,167 shares of the biopharmaceutical company’s stock worth $2,721,000 after purchasing an additional 159,558 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Fate Therapeutics by 2.7% in the 4th quarter. AQR Capital Management LLC now owns 1,162,005 shares of the biopharmaceutical company’s stock worth $1,142,000 after purchasing an additional 30,591 shares during the period. Millennium Management LLC increased its position in shares of Fate Therapeutics by 9.6% during the 3rd quarter. Millennium Management LLC now owns 963,871 shares of the biopharmaceutical company’s stock valued at $1,214,000 after purchasing an additional 84,183 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in shares of Fate Therapeutics by 294.4% during the 3rd quarter. Two Sigma Investments LP now owns 900,757 shares of the biopharmaceutical company’s stock valued at $1,135,000 after purchasing an additional 672,352 shares during the last quarter. 97.54% of the stock is owned by institutional investors.

Fate Therapeutics Stock Performance

Fate Therapeutics stock opened at $2.80 on Friday. The company has a market capitalization of $326.37 million, a PE ratio of -2.57 and a beta of 2.52. The company has a 50 day moving average price of $2.47 and a 200-day moving average price of $1.81. Fate Therapeutics, Inc. has a fifty-two week low of $0.91 and a fifty-two week high of $3.23.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.03. The company had revenue of $1.30 million for the quarter, compared to analysts’ expectations of $1.49 million. Fate Therapeutics had a negative return on equity of 58.89% and a negative net margin of 2,056.79%. On average, analysts forecast that Fate Therapeutics, Inc. will post -1.04 earnings per share for the current year.

Insider Activity

In other news, insider Cindy Tahl sold 25,590 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $1.88, for a total transaction of $48,109.20. Following the transaction, the insider owned 628,155 shares of the company’s stock, valued at approximately $1,180,931.40. This represents a 3.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 4.74% of the company’s stock.

Wall Street Analyst Weigh In

FATE has been the subject of a number of analyst reports. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research report on Monday, June 8th. Weiss Ratings upgraded shares of Fate Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Finally, Jefferies Financial Group set a $4.00 target price on shares of Fate Therapeutics in a research note on Tuesday, May 19th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.12.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development of first‐in‐class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off‐the‐shelf natural killer (NK) and T‐cell products designed to overcome limitations of donor‐derived approaches. Fate’s research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.

Central to Fate’s pipeline are multiple iPSC‐derived cell therapy candidates in active clinical development.