Fate Therapeutics, Inc. (NASDAQ:FATE) Given Consensus Rating of “Hold” by Analysts

Fate Therapeutics, Inc. (NASDAQ:FATE) has earned an average recommendation of “Hold” from the twelve brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $6.73.

A number of brokerages have weighed in on FATE. Bank of America raised their target price on shares of Fate Therapeutics from $2.00 to $6.00 and gave the company an “underperform” rating in a research note on Thursday, March 28th. Morgan Stanley raised their target price on shares of Fate Therapeutics from $3.00 to $7.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 27th. Barclays raised their target price on shares of Fate Therapeutics from $6.00 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. BMO Capital Markets raised their target price on shares of Fate Therapeutics from $6.00 to $7.00 and gave the company a “market perform” rating in a research note on Tuesday, February 27th. Finally, Wedbush raised their price target on shares of Fate Therapeutics from $3.00 to $7.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th.

Institutional Investors Weigh In On Fate Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in FATE. State Street Corp boosted its holdings in Fate Therapeutics by 149.9% in the first quarter. State Street Corp now owns 14,830,084 shares of the biopharmaceutical company’s stock worth $84,531,000 after purchasing an additional 8,894,625 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Fate Therapeutics by 4,653.6% in the fourth quarter. Point72 Asset Management L.P. now owns 3,489,163 shares of the biopharmaceutical company’s stock worth $13,049,000 after purchasing an additional 3,415,762 shares during the last quarter. Millennium Management LLC boosted its holdings in Fate Therapeutics by 347.1% in the fourth quarter. Millennium Management LLC now owns 2,864,476 shares of the biopharmaceutical company’s stock worth $28,903,000 after purchasing an additional 2,223,752 shares during the last quarter. BlackRock Inc. boosted its holdings in Fate Therapeutics by 18.0% in the first quarter. BlackRock Inc. now owns 11,476,243 shares of the biopharmaceutical company’s stock worth $65,415,000 after purchasing an additional 1,750,019 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Fate Therapeutics by 350.9% in the first quarter. Bank of America Corp DE now owns 2,154,529 shares of the biopharmaceutical company’s stock worth $12,281,000 after purchasing an additional 1,676,652 shares during the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Stock Performance

Shares of NASDAQ FATE opened at $4.79 on Monday. Fate Therapeutics has a fifty-two week low of $1.63 and a fifty-two week high of $8.83. The company has a 50 day simple moving average of $6.92 and a two-hundred day simple moving average of $4.52. The company has a market capitalization of $545.20 million, a price-to-earnings ratio of -2.92 and a beta of 1.66.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.12. Fate Therapeutics had a negative net margin of 253.30% and a negative return on equity of 38.17%. The business had revenue of $1.68 million during the quarter, compared to the consensus estimate of $0.85 million. During the same quarter last year, the firm earned ($0.58) earnings per share. On average, analysts forecast that Fate Therapeutics will post -1.94 earnings per share for the current fiscal year.

About Fate Therapeutics

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. The company's chimeric antigen receptor (CAR)-targeted NK and T-cell product candidates include FT576 to treat multiple myeloma, and FT522, to treat lymphoma and autoimmune disorders.