Fate Therapeutics (NASDAQ:FATE) Given Neutral Rating at Wedbush

Fate Therapeutics (NASDAQ:FATE)‘s stock had its “neutral” rating reiterated by research analysts at Wedbush in a note issued to investors on Tuesday,RTT News reports. They presently have a $5.00 price objective on the biopharmaceutical company’s stock. Wedbush’s target price indicates a potential upside of 130.41% from the stock’s previous close.

FATE has been the subject of several other research reports. HC Wainwright reiterated a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a report on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research note on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Fate Therapeutics currently has an average rating of “Hold” and a consensus price target of $6.89.

Fate Therapeutics Stock Down 8.8 %

Shares of NASDAQ FATE opened at $2.17 on Tuesday. The firm has a market cap of $247.12 million, a PE ratio of -1.32 and a beta of 1.88. The company’s fifty day simple moving average is $3.17 and its 200 day simple moving average is $3.61. Fate Therapeutics has a 12-month low of $2.05 and a 12-month high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.02. Fate Therapeutics had a negative return on equity of 44.88% and a negative net margin of 1,325.43%. The company had revenue of $3.07 million for the quarter, compared to analysts’ expectations of $0.88 million. On average, equities analysts predict that Fate Therapeutics will post -1.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FATE. Massachusetts Financial Services Co. MA raised its holdings in shares of Fate Therapeutics by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 167,055 shares of the biopharmaceutical company’s stock valued at $548,000 after acquiring an additional 5,605 shares in the last quarter. Doheny Asset Management CA bought a new stake in shares of Fate Therapeutics in the 2nd quarter worth approximately $263,000. Ausdal Financial Partners Inc. bought a new stake in Fate Therapeutics in the second quarter worth $33,000. Exchange Traded Concepts LLC lifted its stake in shares of Fate Therapeutics by 40.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 42,289 shares of the biopharmaceutical company’s stock valued at $148,000 after acquiring an additional 12,230 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Fate Therapeutics by 11.0% during the second quarter. Rhumbline Advisers now owns 160,001 shares of the biopharmaceutical company’s stock valued at $525,000 after purchasing an additional 15,825 shares during the period. 97.54% of the stock is owned by institutional investors.

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.