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

Fate Therapeutics, Inc. (NASDAQ:FATE) has earned an average rating of “Hold” from the eight ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $4.10.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Fate Therapeutics in a report on Thursday, January 22nd.

Hedge Funds Weigh In On Fate Therapeutics

A number of hedge funds have recently bought and sold shares of FATE. Comerica Bank raised its stake in Fate Therapeutics by 55,698.6% during the first quarter. Comerica Bank now owns 82,024 shares of the biopharmaceutical company’s stock valued at $65,000 after buying an additional 81,877 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Fate Therapeutics by 296.4% in 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 in the last quarter. Jane Street Group LLC increased its holdings 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 acquiring an additional 32,911 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Fate Therapeutics by 7.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,429,167 shares of the biopharmaceutical company’s stock valued at $2,721,000 after acquiring an additional 159,558 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Fate Therapeutics by 19.6% during the 2nd quarter. Invesco Ltd. now owns 255,372 shares of the biopharmaceutical company’s stock valued at $286,000 after acquiring an additional 41,869 shares in the last quarter. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Fate Therapeutics Trading Up 1.9%

Fate Therapeutics stock opened at $1.10 on Monday. Fate Therapeutics has a 52 week low of $0.66 and a 52 week high of $1.94. The stock has a market cap of $127.89 million, a P/E ratio of -0.96 and a beta of 2.18. The stock has a 50 day moving average of $1.24 and a 200-day moving average of $1.18.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.27). The business had revenue of $1.37 million during the quarter, compared to analyst estimates of $1.20 million. Fate Therapeutics had a negative net margin of 2,051.08% and a negative return on equity of 55.02%. As a group, equities analysts predict that Fate Therapeutics will post -1.63 earnings per share for the current fiscal year.

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.