StockNews.com Upgrades Fate Therapeutics (NASDAQ:FATE) to Hold

Fate Therapeutics (NASDAQ:FATE) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

FATE has been the topic of several other reports. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research note on Wednesday. Barclays lowered their price target on Fate Therapeutics from $10.00 to $2.00 and set an “overweight” rating for the company in a research report on Wednesday. Stifel Nicolaus decreased their target price on Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating for the company in a research report on Thursday, March 6th. Wedbush reiterated a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a research note on Thursday, March 6th. Finally, Robert W. Baird cut their target price on Fate Therapeutics from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.14.

Fate Therapeutics Stock Up 5.9%

Fate Therapeutics stock opened at $1.07 on Thursday. The stock has a market cap of $122.63 million, a PE ratio of -0.65 and a beta of 2.32. The business’s 50-day moving average price is $1.01 and its two-hundred day moving average price is $1.51. Fate Therapeutics has a 12-month low of $0.66 and a 12-month high of $5.92.

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

Hedge Funds Weigh In On Fate Therapeutics

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased 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 during the period. SG Americas Securities LLC grew its stake 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 worth $74,000 after purchasing an additional 10,511 shares during the period. Institute for Wealth Management LLC. purchased a new stake in Fate Therapeutics in the fourth quarter worth $110,000. China Universal Asset Management Co. Ltd. bought a new stake in Fate Therapeutics in the fourth quarter worth $40,000. Finally, Leo Wealth LLC boosted its holdings in Fate Therapeutics by 574.8% in the fourth quarter. Leo Wealth LLC now owns 70,439 shares of the biopharmaceutical company’s stock worth $116,000 after acquiring an additional 60,000 shares in 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.