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

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have been given a consensus rating of “Hold” by the thirteen brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $6.73.

FATE has been the subject of several research analyst reports. HC Wainwright reiterated a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research report on Thursday. Wedbush reiterated a “neutral” rating and issued a $7.00 price target on shares of Fate Therapeutics in a report on Monday, May 6th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a report on Wednesday, August 14th. StockNews.com cut shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Finally, BMO Capital Markets decreased their price target on Fate Therapeutics from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Friday, May 10th.

Institutional Trading of Fate Therapeutics

A number of large investors have recently made changes to their positions in the stock. Doheny Asset Management CA purchased a new position in Fate Therapeutics in the 2nd quarter valued at about $263,000. Ausdal Financial Partners Inc. purchased a new position in shares of Fate Therapeutics during the second quarter valued at approximately $33,000. Simplicity Wealth LLC acquired a new stake in Fate Therapeutics during the first quarter worth approximately $81,000. RPO LLC purchased a new stake in Fate Therapeutics in the 4th quarter worth approximately $46,000. Finally, Victory Capital Management Inc. raised its holdings in Fate Therapeutics by 22.8% in the 4th quarter. Victory Capital Management Inc. now owns 12,504 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 2,322 shares during the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.

Fate Therapeutics Stock Up 1.9 %

Shares of Fate Therapeutics stock opened at $3.84 on Friday. The firm has a market cap of $437.11 million, a price-to-earnings ratio of -2.00 and a beta of 1.90. Fate Therapeutics has a 52-week low of $1.63 and a 52-week high of $8.83. The company’s 50-day simple moving average is $3.91 and its 200-day simple moving average is $5.00.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings data on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.14. The company had revenue of $6.77 million for the quarter, compared to analyst estimates of $1.47 million. Fate Therapeutics had a negative return on equity of 46.49% and a negative net margin of 2,933.79%. Equities research analysts anticipate that Fate Therapeutics will post -1.9 EPS for the current year.

Fate Therapeutics Company Profile

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.