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

Fate Therapeutics, Inc. (NASDAQ:FATE) has been assigned an average recommendation of “Hold” from the eight analysts that are covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $3.83.

FATE has been the topic of several research reports. Wedbush reaffirmed a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a report on Thursday, March 6th. Barclays reduced their price objective on Fate Therapeutics from $10.00 to $2.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 14th. Wall Street Zen upgraded Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, May 15th. Stifel Nicolaus reduced their price target on shares of Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating on the stock in a research report on Thursday, March 6th. Finally, Wells Fargo & Company lowered their price objective on shares of Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th.

Fate Therapeutics Price Performance

Fate Therapeutics stock opened at $1.19 on Friday. The stock has a market cap of $136.37 million, a P/E ratio of -0.80 and a beta of 2.23. Fate Therapeutics has a 1 year low of $0.66 and a 1 year high of $5.92. The firm’s 50 day moving average price is $1.22 and its 200-day moving average price is $1.30.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.07. The company had revenue of $1.63 million during the quarter, compared to analysts’ expectations of $1.18 million. Fate Therapeutics had a negative net margin of 1,318.93% and a negative return on equity of 47.17%. As a group, equities analysts expect that Fate Therapeutics will post -1.63 EPS for the current year.

Institutional Trading of Fate Therapeutics

Institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC increased its position in Fate Therapeutics by 67.8% during the first quarter. Acadian Asset Management LLC now owns 2,473,565 shares of the biopharmaceutical company’s stock valued at $1,952,000 after acquiring an additional 999,773 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Fate Therapeutics by 106.9% during the 1st quarter. Jane Street Group LLC now owns 63,691 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 32,911 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Fate Therapeutics by 38.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,203,323 shares of the biopharmaceutical company’s stock valued at $1,741,000 after purchasing an additional 616,336 shares during the last quarter. AQR Capital Management LLC grew its holdings in Fate Therapeutics by 296.4% during the 1st quarter. AQR Capital Management LLC now owns 585,025 shares of the biopharmaceutical company’s stock valued at $462,000 after purchasing an additional 437,423 shares during the last quarter. Finally, Vestal Point Capital LP raised its position in Fate Therapeutics by 2.1% in the 1st quarter. Vestal Point Capital LP now owns 2,515,850 shares of the biopharmaceutical company’s stock worth $1,988,000 after purchasing an additional 50,850 shares during the period. 97.54% of the stock is currently owned by institutional investors.

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.