Fate Therapeutics, Inc. $FATE Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP trimmed its position in Fate Therapeutics, Inc. (NASDAQ:FATE) by 44.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 883,790 shares of the biopharmaceutical company’s stock after selling 693,688 shares during the period. Dimensional Fund Advisors LP’s holdings in Fate Therapeutics were worth $1,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of FATE. Comerica Bank raised its position in Fate Therapeutics by 55,698.6% in the first quarter. Comerica Bank now owns 82,024 shares of the biopharmaceutical company’s stock worth $65,000 after acquiring an additional 81,877 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Fate Therapeutics by 296.4% in the first quarter. AQR Capital Management LLC now owns 585,025 shares of the biopharmaceutical company’s stock valued at $462,000 after purchasing an additional 437,423 shares during the period. Jane Street Group LLC lifted its stake in shares of Fate Therapeutics by 106.9% in the first quarter. Jane Street Group LLC now owns 63,691 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 32,911 shares during the period. Geode Capital Management LLC boosted its holdings in Fate Therapeutics by 7.0% during the second quarter. Geode Capital Management LLC now owns 2,429,167 shares of the biopharmaceutical company’s stock worth $2,721,000 after buying an additional 159,558 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Fate Therapeutics by 19.6% during the second quarter. Invesco Ltd. now owns 255,372 shares of the biopharmaceutical company’s stock worth $286,000 after buying an additional 41,869 shares in the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Price Performance

NASDAQ FATE opened at $2.57 on Friday. Fate Therapeutics, Inc. has a 12 month low of $0.93 and a 12 month high of $3.23. The company has a 50-day moving average of $2.50 and a 200-day moving average of $1.86. The company has a market cap of $299.56 million, a P/E ratio of -2.45 and a beta of 2.52.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.25). Fate Therapeutics had a negative net margin of 1,941.09% and a negative return on equity of 60.87%. The business had revenue of $2.08 million for the quarter, compared to analysts’ expectations of $1.94 million. As a group, equities research analysts anticipate that Fate Therapeutics, Inc. will post -1.04 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Jefferies Financial Group set a $4.00 target price on shares of Fate Therapeutics in a report on Tuesday, May 19th. Piper Sandler restated an “overweight” rating and issued a $8.00 price target (up from $6.00) on shares of Fate Therapeutics in a report on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Fate Therapeutics in a research note on Monday, June 8th. Wells Fargo & Company lifted their price objective on Fate Therapeutics from $2.50 to $3.50 and gave the stock an “equal weight” rating in a report on Friday. Finally, Wedbush reiterated an “outperform” rating and set a $7.00 target price on shares of Fate Therapeutics in a research report on Friday. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.90.

Insiders Place Their Bets

In other Fate Therapeutics news, insider Cindy Tahl sold 25,590 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were 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 $1,180,931.40. This trade represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.74% of the stock is currently owned by corporate insiders.

Fate Therapeutics 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.