Analysts Set Fate Therapeutics, Inc. (NASDAQ:FATE) Price Target at $6.75

Fate Therapeutics, Inc. (NASDAQ:FATE) has been assigned a consensus recommendation of “Hold” from the ten research firms that are presently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $6.75.

FATE has been the topic of several research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research report on Tuesday, November 19th. Wedbush reissued a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research report on Tuesday, November 12th. Finally, Bank of America upgraded Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, November 18th.

Fate Therapeutics Price Performance

Fate Therapeutics stock opened at $1.62 on Friday. Fate Therapeutics has a 1-year low of $1.55 and a 1-year high of $8.83. The business has a fifty day moving average price of $2.38 and a 200-day moving average price of $3.25. The stock has a market capitalization of $184.51 million, a price-to-earnings ratio of -0.98 and a beta of 1.95.

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

Insider Buying and Selling at Fate Therapeutics

In related news, Director Redmile Group, Llc acquired 397,964 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was acquired at an average price of $1.68 per share, for a total transaction of $668,579.52. Following the purchase, the director now owns 12,884,277 shares of the company’s stock, valued at $21,645,585.36. This represents a 3.19 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Perceptive Advisors LLC acquired a new position in Fate Therapeutics during the second quarter worth $1,133,000. Deerfield Management Company L.P. Series C grew its holdings in shares of 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 during the period. Integral Health Asset Management LLC raised its holdings in Fate Therapeutics by 325.0% during the second quarter. Integral Health Asset Management LLC now owns 850,000 shares of the biopharmaceutical company’s stock worth $2,788,000 after purchasing an additional 650,000 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Fate Therapeutics in the second quarter valued at approximately $1,799,000. Finally, E Fund Management Co. Ltd. lifted its stake in Fate Therapeutics by 930.2% in the 2nd quarter. E Fund Management Co. Ltd. now owns 355,225 shares of the biopharmaceutical company’s stock valued at $1,165,000 after buying an additional 320,745 shares in the last quarter. 97.54% of the stock is owned by hedge funds and other institutional investors.

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.