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

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have been given an average rating of “Hold” by the twelve analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and four have assigned a buy recommendation to 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 topic of a number of analyst reports. Piper Sandler raised Fate Therapeutics from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $4.00 to $6.00 in a research report on Monday, June 17th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research report on Wednesday, August 14th. Finally, HC Wainwright reissued a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a research report on Thursday, August 22nd.

Institutional Investors Weigh In On Fate Therapeutics

A number of large investors have recently modified their holdings of the business. Doheny Asset Management CA bought a new position in shares of Fate Therapeutics in the 2nd quarter valued at $263,000. Ausdal Financial Partners Inc. bought a new position in shares of Fate Therapeutics in the 2nd quarter valued at $33,000. Dark Forest Capital Management LP bought a new position in shares of Fate Therapeutics in the 2nd quarter valued at $63,000. DRW Securities LLC bought a new position in shares of Fate Therapeutics in the 2nd quarter valued at $71,000. Finally, Arizona State Retirement System bought a new position in shares of Fate Therapeutics in the 2nd quarter valued at $84,000. Institutional investors and hedge funds own 97.54% of the company’s stock.

Fate Therapeutics Trading Up 5.1 %

Fate Therapeutics stock opened at $3.09 on Monday. Fate Therapeutics has a 12 month low of $1.63 and a 12 month high of $8.83. The stock’s 50 day moving average is $3.57 and its 200-day moving average is $4.09. The company has a market capitalization of $351.74 million, a price-to-earnings ratio of -1.61 and a beta of 1.83.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.14. Fate Therapeutics had a negative return on equity of 44.09% and a negative net margin of 1,426.67%. The company had revenue of $6.77 million for the quarter, compared to the consensus estimate of $1.47 million. As a group, equities research analysts predict that Fate Therapeutics will post -1.73 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.