Irenic Capital Management LP Purchases Shares of 878,055 Fate Therapeutics, Inc. $FATE

Irenic Capital Management LP acquired a new position in Fate Therapeutics, Inc. (NASDAQ:FATE) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 878,055 shares of the biopharmaceutical company’s stock, valued at approximately $1,054,000.

A number of other large investors have also recently made changes to their positions in FATE. Renaissance Technologies LLC increased its stake in shares of Fate Therapeutics by 26.0% during the first quarter. Renaissance Technologies LLC now owns 2,974,683 shares of the biopharmaceutical company’s stock valued at $3,570,000 after buying an additional 613,802 shares during the period. Bruce & Co. Inc. lifted its stake in Fate Therapeutics by 8.2% in the first quarter. Bruce & Co. Inc. now owns 789,188 shares of the biopharmaceutical company’s stock worth $947,000 after acquiring an additional 60,000 shares during the period. Sei Investments Co. boosted its holdings in Fate Therapeutics by 104.9% in the first quarter. Sei Investments Co. now owns 138,580 shares of the biopharmaceutical company’s stock valued at $166,000 after acquiring an additional 70,937 shares in the last quarter. Abel Hall LLC bought a new stake in Fate Therapeutics in the first quarter valued at $44,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Fate Therapeutics by 28.0% in the first quarter. Assenagon Asset Management S.A. now owns 190,252 shares of the biopharmaceutical company’s stock valued at $228,000 after acquiring an additional 41,599 shares in the last quarter. 97.54% of the stock is currently owned by institutional investors.

Insider Activity at Fate Therapeutics

In other news, insider Cindy Tahl sold 25,590 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $1.88, for a total value of $48,109.20. Following the sale, the insider directly owned 628,155 shares of the company’s stock, valued at $1,180,931.40. The trade was a 3.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 Price Performance

Shares of Fate Therapeutics stock opened at $2.32 on Wednesday. The company has a 50-day moving average of $2.44 and a 200 day moving average of $1.73. The firm has a market cap of $270.42 million, a price-to-earnings ratio of -2.13 and a beta of 2.51. Fate Therapeutics, Inc. has a 1 year low of $0.91 and a 1 year high of $3.23.

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

Analysts Set New Price Targets

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

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.