Fate Therapeutics (NASDAQ:FATE) Shares Pass Below Two Hundred Day Moving Average – What’s Next?

Fate Therapeutics, Inc. (NASDAQ:FATE) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.16 and traded as low as $0.9510. Fate Therapeutics shares last traded at $0.9768, with a volume of 3,583,512 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FATE. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a report on Monday, October 27th. Weiss Ratings restated a “sell (e+)” rating on shares of Fate Therapeutics in a research report on Wednesday, October 8th. HC Wainwright upgraded shares of Fate Therapeutics from a “neutral” rating to a “buy” rating and set a $5.00 target price for the company in a research note on Friday, October 31st. Cantor Fitzgerald reiterated a “neutral” rating on shares of Fate Therapeutics in a research note on Tuesday, November 4th. Finally, Wedbush upgraded shares of Fate Therapeutics from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $5.00 to $7.00 in a research report on Monday, October 27th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Fate Therapeutics presently has an average rating of “Hold” and a consensus price target of $3.92.

Fate Therapeutics Stock Performance

The stock’s fifty day moving average price is $1.18 and its 200-day moving average price is $1.16. The firm has a market cap of $112.67 million, a PE ratio of -0.74 and a beta of 2.34.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Thursday, November 13th. The biopharmaceutical company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.02. Fate Therapeutics had a negative net margin of 2,187.11% and a negative return on equity of 51.28%. The firm had revenue of $1.74 million for the quarter, compared to the consensus estimate of $1.63 million. Sell-side analysts forecast that Fate Therapeutics, Inc. will post -1.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fate Therapeutics

Several hedge funds have recently bought and sold shares of FATE. Savant Capital LLC acquired a new position in Fate Therapeutics during the second quarter worth $27,000. Bridgeway Capital Management LLC purchased a new position in shares of Fate Therapeutics in the second quarter valued at $28,000. Russell Investments Group Ltd. raised its stake in shares of Fate Therapeutics by 73.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 12,114 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Fate Therapeutics in the 2nd quarter worth about $56,000. Finally, Caption Management LLC acquired a new stake in Fate Therapeutics in the 1st quarter valued at about $45,000. 97.54% of the stock is owned by hedge funds and other institutional investors.

About Fate Therapeutics

Fate Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development of first‐in‐class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off‐the‐shelf natural killer (NK) and T‐cell products designed to overcome limitations of donor‐derived approaches. Fate’s research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.

Central to Fate’s pipeline are multiple iPSC‐derived cell therapy candidates in active clinical development.