Fate Therapeutics (NASDAQ:FATE) Shares Pass Above 50-Day Moving Average – What’s Next?

Fate Therapeutics, Inc. (NASDAQ:FATE) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $1.09 and traded as high as $1.13. Fate Therapeutics shares last traded at $1.12, with a volume of 907,706 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Fate Therapeutics in a research note on Thursday, January 22nd. Wall Street Zen lowered shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. HC Wainwright raised shares of Fate Therapeutics from a “neutral” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Friday, October 31st. Cantor Fitzgerald reiterated a “neutral” rating on shares of Fate Therapeutics in a research note on Tuesday, November 4th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a report on Monday, October 27th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Fate Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $3.92.

Fate Therapeutics Stock Down 1.8%

The company’s 50-day moving average is $1.09 and its two-hundred day moving average is $1.13. The company has a market capitalization of $129.19 million, a P/E ratio of -0.85 and a beta of 2.24.

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

Institutional Investors Weigh In On Fate Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC grew its position in Fate Therapeutics by 65.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 71,364 shares of the biopharmaceutical company’s stock valued at $80,000 after acquiring an additional 28,268 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Fate Therapeutics by 161.2% in the 4th quarter. SG Americas Securities LLC now owns 38,913 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 24,013 shares during the last quarter. Bruce & Co. Inc. boosted its stake in shares of Fate Therapeutics by 69.9% in the 3rd quarter. Bruce & Co. Inc. now owns 729,188 shares of the biopharmaceutical company’s stock valued at $919,000 after purchasing an additional 300,000 shares in the last quarter. Russell Investments Group Ltd. grew its holdings 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 valued at $36,000 after purchasing an additional 12,114 shares during the last quarter. Finally, Knott David M Jr bought a new position in shares of Fate Therapeutics during the 3rd quarter valued at $460,000. 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.