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

Shares of Fate Therapeutics, Inc. (NASDAQ:FATEGet Free Report) have received a consensus recommendation of “Hold” from the nine research firms that are presently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $6.78.

FATE has been the subject of several recent research reports. Wedbush boosted their price objective on Fate Therapeutics from $3.00 to $7.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. Wells Fargo & Company dropped their price objective on shares of Fate Therapeutics from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 9th. Morgan Stanley boosted their target price on shares of Fate Therapeutics from $3.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 27th. Mizuho lowered their target price on shares of Fate Therapeutics from $12.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, November 20th. Finally, BMO Capital Markets lifted their price target on Fate Therapeutics from $6.00 to $7.00 and gave the company a “market perform” rating in a research note on Tuesday, February 27th.

Get Our Latest Analysis on FATE

Fate Therapeutics Price Performance

Shares of FATE stock opened at $7.74 on Friday. The stock has a market capitalization of $768.12 million, a PE ratio of -4.72 and a beta of 1.67. The business’s 50 day simple moving average is $5.43 and its 200 day simple moving average is $3.42. Fate Therapeutics has a one year low of $1.63 and a one year high of $8.63.

Fate Therapeutics (NASDAQ:FATEGet Free Report) last announced its earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.12. Fate Therapeutics had a negative return on equity of 38.17% and a negative net margin of 253.30%. The company had revenue of $1.68 million for the quarter, compared to analyst estimates of $0.85 million. During the same quarter in the prior year, the company earned ($0.58) EPS. As a group, research analysts expect that Fate Therapeutics will post -2.01 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Redmile Group, Llc acquired 44,630 shares of the stock in a transaction dated Tuesday, December 26th. The stock was purchased at an average cost of $3.72 per share, with a total value of $166,023.60. Following the completion of the purchase, the director now owns 13,180,388 shares in the company, valued at approximately $49,031,043.36. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, General Counsel Cindy Tahl sold 10,874 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $4.37, for a total value of $47,519.38. Following the completion of the transaction, the general counsel now owns 142,361 shares of the company’s stock, valued at approximately $622,117.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Redmile Group, Llc acquired 44,630 shares of the stock in a transaction on Tuesday, December 26th. The shares were purchased at an average cost of $3.72 per share, with a total value of $166,023.60. Following the transaction, the director now directly owns 13,180,388 shares of the company’s stock, valued at approximately $49,031,043.36. The disclosure for this purchase can be found here. Insiders have sold a total of 45,413 shares of company stock valued at $199,732 over the last three months. 5.04% of the stock is owned by company insiders.

Institutional Trading of Fate Therapeutics

A number of hedge funds have recently made changes to their positions in FATE. Simplicity Solutions LLC purchased a new stake in shares of Fate Therapeutics during the third quarter valued at $25,000. National Bank of Canada FI purchased a new position in shares of Fate Therapeutics during the third quarter valued at approximately $25,000. Fox Run Management L.L.C. purchased a new stake in Fate Therapeutics in the third quarter worth approximately $25,000. Natixis bought a new stake in Fate Therapeutics in the 4th quarter worth approximately $29,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Fate Therapeutics during the 3rd quarter valued at $30,000.

About Fate Therapeutics

(Get Free Report

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.

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Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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