Needham & Company LLC Reiterates Hold Rating for Fate Therapeutics (NASDAQ:FATE)

Needham & Company LLC reissued their hold rating on shares of Fate Therapeutics (NASDAQ:FATE) in a research note published on Tuesday,Benzinga reports.

Other equities analysts have also recently issued research reports about the company. Wedbush reissued a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a report on Tuesday, November 12th. Bank of America upgraded Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, November 18th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $5.00 target price on shares of Fate Therapeutics in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $6.75.

Fate Therapeutics Stock Up 10.6 %

FATE opened at $2.29 on Tuesday. Fate Therapeutics has a 52 week low of $1.96 and a 52 week high of $8.83. The stock’s fifty day moving average is $2.99 and its two-hundred day moving average is $3.54. The company has a market capitalization of $260.82 million, a P/E ratio of -1.39 and a beta of 1.88.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.02. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. The company had revenue of $3.07 million during the quarter, compared to analysts’ expectations of $0.88 million. Equities analysts anticipate that Fate Therapeutics will post -1.72 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FATE. Vanguard Group Inc. increased its holdings in Fate Therapeutics by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock worth $72,747,000 after acquiring an additional 617,644 shares in the last quarter. Deerfield Management Company L.P. Series C grew its position in shares of Fate Therapeutics by 62.3% in the second quarter. Deerfield Management Company L.P. Series C now owns 3,555,871 shares of the biopharmaceutical company’s stock valued at $11,663,000 after purchasing an additional 1,365,463 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Fate Therapeutics by 1.0% during the second quarter. Assenagon Asset Management S.A. now owns 2,574,703 shares of the biopharmaceutical company’s stock worth $8,445,000 after purchasing an additional 26,399 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Fate Therapeutics by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company’s stock worth $7,905,000 after purchasing an additional 10,863 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Fate Therapeutics by 100.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,130,280 shares of the biopharmaceutical company’s stock valued at $6,987,000 after buying an additional 1,067,101 shares in the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

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.