StockNews.com Upgrades Fate Therapeutics (NASDAQ:FATE) to “Hold”

StockNews.com upgraded shares of Fate Therapeutics (NASDAQ:FATE) from a sell rating to a hold rating in a research note published on Monday.

Other analysts have also issued reports about the stock. Bank of America upgraded shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, November 18th. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research report on Tuesday, November 19th. Finally, Wedbush restated a “neutral” rating and set a $5.00 target price on shares of Fate Therapeutics in a research report on Tuesday, November 12th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.17.

Fate Therapeutics Stock Down 4.7 %

FATE opened at $0.91 on Monday. The firm has a 50 day moving average price of $1.40 and a 200-day moving average price of $2.41. Fate Therapeutics has a twelve month low of $0.89 and a twelve month high of $8.83. The stock has a market capitalization of $103.09 million, a price-to-earnings ratio of -0.55 and a beta of 2.02.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Monday, March 10th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.13. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. As a group, analysts expect that Fate Therapeutics will post -1.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Redmile Group, Llc purchased 397,964 shares of the company’s stock in a transaction on Friday, December 20th. The stock was acquired at an average cost of $1.68 per share, for a total transaction of $668,579.52. Following the completion of the transaction, the director now directly owns 12,884,277 shares in the company, valued at $21,645,585.36. This trade represents a 3.19 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Fate Therapeutics

Hedge funds have recently modified their holdings of the company. Graham Capital Management L.P. bought a new position in shares of Fate Therapeutics in the fourth quarter worth approximately $37,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Fate Therapeutics during the fourth quarter worth $40,000. Brevan Howard Capital Management LP bought a new position in shares of Fate Therapeutics during the fourth quarter worth $41,000. FPC Investment Advisory Inc. bought a new position in shares of Fate Therapeutics during the fourth quarter worth $44,000. Finally, Intech Investment Management LLC bought a new position in shares of Fate Therapeutics during the third quarter worth $108,000. 97.54% of the stock is currently 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.