Fate Therapeutics, Inc. (NASDAQ:FATE) Given Average Recommendation of “Hold” by Analysts

Shares of Fate Therapeutics, Inc. (NASDAQ:FATEGet Free Report) have earned an average recommendation of “Hold” from the fourteen ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $6.58.

FATE has been the topic of several research reports. Canaccord Genuity Group decreased their target price on Fate Therapeutics from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Bank of America increased their price objective on Fate Therapeutics from $2.00 to $6.00 and gave the stock an “underperform” rating in a research report on Thursday, March 28th. Oppenheimer reissued a “market perform” rating on shares of Fate Therapeutics in a research report on Tuesday, February 27th. BMO Capital Markets decreased their price target on shares of Fate Therapeutics from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Friday, May 10th. Finally, Morgan Stanley lifted their price objective on shares of Fate Therapeutics from $3.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 27th.

Read Our Latest Report on FATE

Fate Therapeutics Price Performance

FATE stock opened at $3.86 on Tuesday. Fate Therapeutics has a one year low of $1.63 and a one year high of $8.83. The stock has a market cap of $439.38 million, a price-to-earnings ratio of -2.01 and a beta of 1.90. The company has a fifty day moving average price of $4.57 and a two-hundred day moving average price of $4.98.

Fate Therapeutics (NASDAQ:FATEGet Free Report) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.47) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.47). Fate Therapeutics had a negative net margin of 2,933.79% and a negative return on equity of 46.49%. The company had revenue of $1.93 million during the quarter, compared to analysts’ expectations of $0.80 million. During the same quarter last year, the company posted ($0.19) EPS. Research analysts anticipate that Fate Therapeutics will post -1.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Fate Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in FATE. Quantbot Technologies LP raised its holdings in shares of Fate Therapeutics by 410.8% during the 3rd quarter. Quantbot Technologies LP now owns 47,500 shares of the biopharmaceutical company’s stock worth $101,000 after buying an additional 38,200 shares in the last quarter. Shell Asset Management Co. raised its stake in Fate Therapeutics by 1,962.5% during the third quarter. Shell Asset Management Co. now owns 77,199 shares of the biopharmaceutical company’s stock worth $164,000 after acquiring an additional 73,456 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in shares of Fate Therapeutics in the third quarter worth about $30,000. State Board of Administration of Florida Retirement System lifted its holdings in shares of Fate Therapeutics by 1,121.7% in the third quarter. State Board of Administration of Florida Retirement System now owns 340,554 shares of the biopharmaceutical company’s stock worth $722,000 after acquiring an additional 312,678 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new stake in shares of Fate Therapeutics in the 3rd quarter valued at approximately $91,000. 97.54% of the stock is currently owned by institutional investors.

Fate Therapeutics Company Profile

(Get Free Report

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.

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Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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