Fate Therapeutics (NASDAQ:FATE) Stock Rating Upgraded by Wall Street Zen

Fate Therapeutics (NASDAQ:FATE) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Monday.

A number of other equities analysts have also issued reports on FATE. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a report on Thursday, June 12th. Wells Fargo & Company decreased their price objective on Fate Therapeutics from $4.00 to $2.50 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. Barclays decreased their price objective on Fate Therapeutics from $10.00 to $2.00 and set an “overweight” rating for the company in a report on Wednesday, May 14th. 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 report on Wednesday, May 14th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Fate Therapeutics has an average rating of “Hold” and an average target price of $3.58.

Fate Therapeutics Price Performance

Shares of FATE stock opened at $1.09 on Monday. Fate Therapeutics has a 12-month low of $0.66 and a 12-month high of $4.20. The firm has a market capitalization of $125.71 million, a price-to-earnings ratio of -0.75 and a beta of 2.24. The business has a 50 day simple moving average of $1.16 and a 200 day simple moving average of $1.14.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings data on Tuesday, August 12th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.06. Fate Therapeutics had a negative return on equity of 50.95% and a negative net margin of 2,025.05%. The business had revenue of $1.91 million during the quarter, compared to analyst estimates of $1.16 million. On average, equities analysts anticipate that Fate Therapeutics will post -1.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Fate Therapeutics

A number of institutional investors have recently added to or reduced their stakes in FATE. LPL Financial LLC acquired a new stake in shares of Fate Therapeutics during the 4th quarter valued at $121,000. Wells Fargo & Company MN lifted its position in shares of Fate Therapeutics by 56.3% during the 4th 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. Russell Investments Group Ltd. lifted its position in shares of Fate Therapeutics by 42.9% during the 4th quarter. Russell Investments Group Ltd. now owns 89,823 shares of the biopharmaceutical company’s stock valued at $148,000 after acquiring an additional 26,953 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Fate Therapeutics by 4.4% during the 4th quarter. Renaissance Technologies LLC now owns 378,619 shares of the biopharmaceutical company’s stock valued at $625,000 after acquiring an additional 16,000 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Fate Therapeutics during the 4th quarter valued at $412,000. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.