Fate Therapeutics, Inc. (NASDAQ:FATE) Receives $6.73 Consensus PT from Brokerages

Fate Therapeutics, Inc. (NASDAQ:FATE) has received a consensus recommendation of “Hold” from the twelve research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $6.73.

FATE has been the subject of several analyst reports. Morgan Stanley raised their target price on Fate Therapeutics from $3.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 27th. Bank of America lifted their price objective on Fate Therapeutics from $2.00 to $6.00 and gave the stock an “underperform” rating in a research note on Thursday, March 28th. Oppenheimer reissued a “market perform” rating on shares of Fate Therapeutics in a research report on Tuesday, February 27th. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research report on Thursday, April 11th. Finally, HC Wainwright reiterated a “neutral” rating and set a $7.00 price objective on shares of Fate Therapeutics in a research report on Tuesday, March 19th.

Fate Therapeutics Trading Down 5.3 %

Shares of NASDAQ:FATE opened at $4.30 on Monday. Fate Therapeutics has a 12 month low of $1.63 and a 12 month high of $8.83. The firm has a 50 day moving average of $6.84 and a 200-day moving average of $4.56. The stock has a market capitalization of $489.41 million, a PE ratio of -2.62 and a beta of 1.66.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings data on Monday, February 26th. The biopharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.12. Fate Therapeutics had a negative net margin of 253.30% and a negative return on equity of 38.17%. The business had revenue of $1.68 million during the quarter, compared to analyst estimates of $0.85 million. During the same quarter last year, the business earned ($0.58) EPS. On average, research analysts predict that Fate Therapeutics will post -1.94 EPS for the current fiscal year.

Institutional Trading of Fate Therapeutics

Several large investors have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in Fate Therapeutics by 22.8% during the 4th quarter. Victory Capital Management Inc. now owns 12,504 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 2,322 shares during the last quarter. Brown Advisory Inc. boosted its position in shares of Fate Therapeutics by 53.3% during the third quarter. Brown Advisory Inc. now owns 19,364 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 6,735 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Fate Therapeutics by 15.1% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 60,299 shares of the biopharmaceutical company’s stock worth $128,000 after buying an additional 7,916 shares in the last quarter. Epiq Partners LLC purchased a new stake in Fate Therapeutics in the 4th quarter valued at $38,000. Finally, Simplicity Wealth LLC bought a new position in Fate Therapeutics during the 1st quarter valued at $81,000. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.