Fate Therapeutics, Inc. (NASDAQ:FATE) Receives $6.90 Consensus Target Price from Brokerages

Fate Therapeutics, Inc. (NASDAQ:FATE) has received an average recommendation of “Hold” from the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $6.90.

FATE has been the subject of several recent research reports. HC Wainwright reiterated a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Piper Sandler raised Fate Therapeutics from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $4.00 to $6.00 in a report on Monday, June 17th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research note on Wednesday, August 14th.

Institutional Trading of Fate Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Baker BROS. Advisors LP bought a new position in Fate Therapeutics in the 1st quarter worth $13,345,000. Deerfield Management Company L.P. Series C increased its holdings in Fate Therapeutics by 62.3% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,555,871 shares of the biopharmaceutical company’s stock worth $11,663,000 after acquiring an additional 1,365,463 shares in the last quarter. Vestal Point Capital LP bought a new stake in Fate Therapeutics during the 4th quarter worth approximately $4,825,000. Dimensional Fund Advisors LP increased its stake in shares of Fate Therapeutics by 100.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,130,280 shares of the biopharmaceutical company’s stock worth $6,987,000 after purchasing an additional 1,067,101 shares in the last quarter. Finally, Superstring Capital Management LP bought a new stake in shares of Fate Therapeutics during the 4th quarter valued at $3,171,000. Institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Price Performance

FATE opened at $3.87 on Thursday. Fate Therapeutics has a 1 year low of $1.63 and a 1 year high of $8.83. The company has a market capitalization of $440.53 million, a price-to-earnings ratio of -2.02 and a beta of 1.84. The firm’s fifty day moving average price is $4.05 and its two-hundred day moving average price is $4.55.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.14. The business 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 44.09% and a negative net margin of 1,426.67%. As a group, equities analysts anticipate that Fate Therapeutics will post -1.73 EPS for the current 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.