Robert W. Baird Cuts Fate Therapeutics (NASDAQ:FATE) Price Target to $4.00

Fate Therapeutics (NASDAQ:FATE) had its price objective lowered by Robert W. Baird from $5.00 to $4.00 in a research report report published on Wednesday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the biopharmaceutical company’s stock.

Other research analysts have also issued research reports about the company. StockNews.com lowered Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, March 11th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research note on Wednesday. Stifel Nicolaus reduced their price target on Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating on the stock in a research report on Thursday, March 6th. Wedbush reissued a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a report on Thursday, March 6th. Finally, Wells Fargo & Company lowered their price target on shares of Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $4.14.

Fate Therapeutics Price Performance

FATE stock opened at $1.07 on Wednesday. The company has a market cap of $122.63 million, a P/E ratio of -0.65 and a beta of 2.32. Fate Therapeutics has a 1 year low of $0.66 and a 1 year high of $5.92. The stock’s fifty day moving average price is $1.01 and its 200-day moving average price is $1.51.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. The company had revenue of $1.63 million for the quarter, compared to analysts’ expectations of $1.18 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. As a group, analysts expect that Fate Therapeutics will post -1.63 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in Fate Therapeutics by 18.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,837,304 shares of the biopharmaceutical company’s stock worth $6,431,000 after purchasing an additional 283,080 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Fate Therapeutics by 6.6% during the 4th quarter. American Century Companies Inc. now owns 197,704 shares of the biopharmaceutical company’s stock worth $326,000 after purchasing an additional 12,295 shares during the last quarter. SG Americas Securities LLC lifted its position in Fate Therapeutics by 30.6% in the fourth quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company’s stock valued at $74,000 after acquiring an additional 10,511 shares during the last quarter. Hsbc Holdings PLC lifted its position in Fate Therapeutics by 22.0% in the fourth quarter. Hsbc Holdings PLC now owns 109,422 shares of the biopharmaceutical company’s stock valued at $179,000 after acquiring an additional 19,706 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Fate Therapeutics by 56.3% in the fourth quarter. Wells Fargo & Company MN now owns 92,395 shares of the biopharmaceutical company’s stock valued at $152,000 after acquiring an additional 33,284 shares during the last quarter. 97.54% of the stock is owned by hedge funds and other institutional investors.

About Fate Therapeutics

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.