Fate Therapeutics (NASDAQ:FATE) Share Price Passes Below 200-Day Moving Average – Here’s What Happened

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.19 and traded as low as $1.10. Fate Therapeutics shares last traded at $1.13, with a volume of 843,129 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Fate Therapeutics in a research note on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.10.

Fate Therapeutics Stock Down 3.4%

The firm has a fifty day moving average price of $1.25 and a 200 day moving average price of $1.19. The company has a market cap of $131.37 million, a P/E ratio of -0.98 and a beta of 2.18.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.27). The business had revenue of $1.37 million during the quarter, compared to analysts’ expectations of $1.20 million. Fate Therapeutics had a negative return on equity of 55.02% and a negative net margin of 2,051.08%. On average, sell-side analysts anticipate that Fate Therapeutics, Inc. will post -1.63 earnings per share for the current year.

Hedge Funds Weigh In On Fate Therapeutics

Institutional investors have recently modified their holdings of the stock. Corient Private Wealth LLC acquired a new position in shares of Fate Therapeutics during the fourth quarter worth approximately $29,000. Bridgeway Capital Management LLC acquired a new stake in shares of Fate Therapeutics in the second quarter valued at approximately $28,000. Commonwealth Equity Services LLC acquired a new stake in shares of Fate Therapeutics in the fourth quarter valued at approximately $26,000. Monaco Asset Management SAM raised its position in Fate Therapeutics by 7.8% in the 4th quarter. Monaco Asset Management SAM now owns 830,000 shares of the biopharmaceutical company’s stock worth $816,000 after purchasing an additional 60,000 shares during the last quarter. Finally, Privium Fund Management B.V. raised its position in Fate Therapeutics by 10.8% in the 4th quarter. Privium Fund Management B.V. now owns 369,100 shares of the biopharmaceutical company’s stock worth $363,000 after purchasing an additional 35,881 shares during the last quarter. 97.54% of the stock is owned by institutional investors.

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.