Point72 Asia Singapore Pte. Ltd. Makes New Investment in Fate Therapeutics, Inc. (NASDAQ:FATE)

Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 33,094 shares of the biopharmaceutical company’s stock, valued at approximately $55,000.

A number of other large investors also recently added to or reduced their stakes in the business. Graham Capital Management L.P. purchased a new stake in Fate Therapeutics during the fourth quarter valued at about $37,000. China Universal Asset Management Co. Ltd. purchased a new stake in Fate Therapeutics during the 4th quarter valued at about $40,000. Brevan Howard Capital Management LP purchased a new stake in Fate Therapeutics during the 4th quarter valued at about $41,000. FPC Investment Advisory Inc. bought a new position in Fate Therapeutics during the 4th quarter worth approximately $44,000. Finally, ProShare Advisors LLC increased its stake in Fate Therapeutics by 77.9% in the 4th quarter. ProShare Advisors LLC now owns 33,645 shares of the biopharmaceutical company’s stock worth $56,000 after purchasing an additional 14,728 shares during the period. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Trading Up 5.9%

Shares of FATE opened at $1.07 on Monday. Fate Therapeutics, Inc. has a 1-year low of $0.66 and a 1-year high of $5.92. The firm’s 50-day moving average price is $1.01 and its 200-day moving average price is $1.50. The firm has a market capitalization of $122.63 million, a price-to-earnings ratio of -0.65 and a beta of 2.32.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.07. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. The business had revenue of $1.63 million during the quarter, compared to analyst estimates of $1.18 million. On average, research analysts forecast that Fate Therapeutics, Inc. will post -1.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on FATE. Wells Fargo & Company dropped their price objective on Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Barclays dropped their price target on shares of Fate Therapeutics from $10.00 to $2.00 and set an “overweight” rating for the company in a research report on Wednesday, May 14th. StockNews.com raised shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday. Robert W. Baird lowered their price objective on shares of Fate Therapeutics from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Wednesday, May 14th. Finally, Wedbush reiterated a “neutral” rating and set a $5.00 target price on shares of Fate Therapeutics in a report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Fate Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $4.14.

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.