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

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have received a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $3.9167.

A number of equities analysts have issued reports on FATE shares. Weiss Ratings restated a “sell (e+)” rating on shares of Fate Therapeutics in a research report on Wednesday, October 8th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research note on Monday, October 27th. Wedbush upgraded Fate Therapeutics from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $5.00 to $7.00 in a report on Monday, October 27th. HC Wainwright upgraded Fate Therapeutics from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a report on Friday, October 31st. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Fate Therapeutics in a report on Tuesday, November 4th.

Fate Therapeutics Stock Performance

Shares of FATE stock opened at $1.01 on Wednesday. Fate Therapeutics has a fifty-two week low of $0.66 and a fifty-two week high of $1.94. The stock has a 50 day moving average price of $1.07 and a two-hundred day moving average price of $1.13. The company has a market capitalization of $116.50 million, a P/E ratio of -0.77 and a beta of 2.22.

Fate Therapeutics (NASDAQ:FATE) last issued its earnings results on Thursday, November 13th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.63 million. As a group, equities analysts predict that Fate Therapeutics will post -1.63 earnings per share for the current year.

Institutional Investors Weigh In On Fate Therapeutics

Large investors have recently modified their holdings of the stock. Invesco Ltd. increased its position in shares of Fate Therapeutics by 96.0% during the first quarter. Invesco Ltd. now owns 213,503 shares of the biopharmaceutical company’s stock valued at $169,000 after buying an additional 104,569 shares during the period. Comerica Bank boosted its position in Fate Therapeutics by 55,698.6% during the 1st quarter. Comerica Bank now owns 82,024 shares of the biopharmaceutical company’s stock valued at $65,000 after acquiring an additional 81,877 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Fate Therapeutics by 296.4% during the 1st quarter. AQR Capital Management LLC now owns 585,025 shares of the biopharmaceutical company’s stock worth $462,000 after acquiring an additional 437,423 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of Fate Therapeutics by 38.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,203,323 shares of the biopharmaceutical company’s stock worth $1,741,000 after acquiring an additional 616,336 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Fate Therapeutics by 106.9% in the 1st quarter. Jane Street Group LLC now owns 63,691 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 32,911 shares during the period. Institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Company Profile

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.