Fate Therapeutics, Inc. (NASDAQ:FATE) Receives Consensus Rating of “Hold” from Brokerages

Fate Therapeutics, Inc. (NASDAQ:FATE) has been given an average rating of “Hold” by the twenty research firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $12.96.

FATE has been the subject of several research reports. StockNews.com began coverage on Fate Therapeutics in a research note on Thursday, August 17th. They set a “hold” rating for the company. Barclays decreased their price target on Fate Therapeutics from $12.00 to $6.00 and set an “overweight” rating for the company in a report on Thursday, August 10th. Truist Financial reiterated a “hold” rating and set a $7.00 target price on shares of Fate Therapeutics in a research note on Wednesday, August 16th. BMO Capital Markets dropped their price target on Fate Therapeutics from $6.00 to $5.40 and set a “market perform” rating on the stock in a research report on Wednesday, August 9th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research report on Thursday.

Insider Activity at Fate Therapeutics

In other news, CFO Edward J. Dulac III sold 5,182 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $4.83, for a total value of $25,029.06. Following the completion of the sale, the chief financial officer now directly owns 124,288 shares of the company’s stock, valued at $600,311.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 17,846 shares of company stock valued at $78,660. Insiders own 5.04% of the company’s stock.

Institutional Trading of Fate Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in Fate Therapeutics by 149.9% during the 1st quarter. State Street Corp now owns 14,830,084 shares of the biopharmaceutical company’s stock worth $84,531,000 after purchasing an additional 8,894,625 shares during the last quarter. BlackRock Inc. lifted its holdings in Fate Therapeutics by 4.4% during the 2nd quarter. BlackRock Inc. now owns 11,978,558 shares of the biopharmaceutical company’s stock worth $57,018,000 after purchasing an additional 502,315 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Fate Therapeutics by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 7,814,980 shares of the biopharmaceutical company’s stock worth $175,133,000 after purchasing an additional 57,040 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Fate Therapeutics by 1.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,983,503 shares of the biopharmaceutical company’s stock worth $123,491,000 after purchasing an additional 72,136 shares during the last quarter. Finally, Capital World Investors lifted its holdings in Fate Therapeutics by 39.9% during the 1st quarter. Capital World Investors now owns 4,559,673 shares of the biopharmaceutical company’s stock worth $176,779,000 after purchasing an additional 1,300,640 shares during the last quarter.

Fate Therapeutics Price Performance

Shares of Fate Therapeutics stock opened at $2.48 on Friday. The firm’s fifty day simple moving average is $3.65 and its 200-day simple moving average is $4.89. Fate Therapeutics has a 12 month low of $2.34 and a 12 month high of $29.42. The stock has a market capitalization of $244.43 million, a price-to-earnings ratio of -1.14 and a beta of 1.47.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.04. The firm had revenue of $0.93 million for the quarter, compared to analyst estimates of $5.41 million. Fate Therapeutics had a negative net margin of 177.41% and a negative return on equity of 44.14%. Fate Therapeutics’s quarterly revenue was down 95.0% on a year-over-year basis. During the same period last year, the firm posted ($0.79) EPS. Analysts anticipate that Fate Therapeutics will post -1.91 earnings per share for the current year.

About Fate Therapeutics

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its 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; and CAR T-cell programs include FT819 to treat hematologic malignancies and solid tumors, and FT825 to treat solid tumors.