Brokerages Set Fate Therapeutics, Inc. (NASDAQ:FATE) PT at $6.90

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have been assigned an average rating of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $7.11.

FATE has been the subject of several analyst reports. HC Wainwright reiterated a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research report on Wednesday, August 14th.

Institutional Investors Weigh In On Fate Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Fate Therapeutics by 6.6% in the first quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock valued at $72,747,000 after purchasing an additional 617,644 shares during the period. Deerfield Management Company L.P. Series C raised its position in Fate Therapeutics by 62.3% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,555,871 shares of the biopharmaceutical company’s stock worth $11,663,000 after buying an additional 1,365,463 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Fate Therapeutics by 1.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,574,703 shares of the biopharmaceutical company’s stock worth $8,445,000 after buying an additional 26,399 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Fate Therapeutics by 100.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,130,280 shares of the biopharmaceutical company’s stock worth $6,987,000 after acquiring an additional 1,067,101 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of Fate Therapeutics by 17.2% in the second quarter. Acadian Asset Management LLC now owns 2,008,862 shares of the biopharmaceutical company’s stock valued at $6,587,000 after acquiring an additional 294,738 shares in the last quarter. 97.54% of the stock is owned by hedge funds and other institutional investors.

Fate Therapeutics Trading Down 5.1 %

NASDAQ:FATE opened at $2.42 on Friday. The firm has a market cap of $275.58 million, a PE ratio of -1.42 and a beta of 1.88. The stock has a fifty day moving average price of $3.24 and a 200 day moving average price of $3.64. Fate Therapeutics has a 12-month low of $1.91 and a 12-month high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings data on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.14. Fate Therapeutics had a negative return on equity of 44.09% and a negative net margin of 1,426.67%. The business had revenue of $6.77 million during the quarter, compared to analysts’ expectations of $1.47 million. Equities analysts forecast that Fate Therapeutics will post -1.73 EPS for the current year.

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.