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

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have been assigned a consensus recommendation of “Hold” from the nine ratings firms that are covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $5.43.

FATE has been the subject of a number of analyst reports. Wedbush reissued a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a research note on Thursday, March 6th. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a report on Thursday, March 6th. StockNews.com lowered shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, March 11th. Stifel Nicolaus lowered their price objective on shares of Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating for the company in a research note on Thursday, March 6th. Finally, Wells Fargo & Company cut their target price on Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th.

Institutional Trading of Fate Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tang Capital Management LLC grew its position in Fate Therapeutics by 165.1% during the 4th quarter. Tang Capital Management LLC now owns 1,855,954 shares of the biopharmaceutical company’s stock worth $3,062,000 after purchasing an additional 1,155,954 shares during the last quarter. Walleye Capital LLC raised its holdings in shares of Fate Therapeutics by 1,502.0% in the fourth quarter. Walleye Capital LLC now owns 1,083,092 shares of the biopharmaceutical company’s stock worth $1,787,000 after buying an additional 1,015,483 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Fate Therapeutics by 4,953.6% during the fourth quarter. Cerity Partners LLC now owns 823,134 shares of the biopharmaceutical company’s stock worth $1,358,000 after buying an additional 806,846 shares during the period. Vestal Point Capital LP grew its holdings in shares of Fate Therapeutics by 46.3% during the fourth quarter. Vestal Point Capital LP now owns 2,465,000 shares of the biopharmaceutical company’s stock valued at $4,067,000 after buying an additional 780,000 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Fate Therapeutics during the fourth quarter valued at $846,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Stock Down 3.1 %

Fate Therapeutics stock opened at $1.24 on Friday. The business has a 50-day simple moving average of $1.01 and a 200 day simple moving average of $1.66. Fate Therapeutics has a 52 week low of $0.66 and a 52 week high of $5.92. The stock has a market cap of $142.11 million, a price-to-earnings ratio of -0.75 and a beta of 2.41.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings data on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.13. The company had revenue of $1.86 million for the quarter, compared to analysts’ expectations of $1.57 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. On average, research analysts anticipate that Fate Therapeutics will post -1.63 earnings per share 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.