Fate Therapeutics, Inc. (NASDAQ:FATE) Given Consensus Recommendation of “Hold” by Brokerages

Fate Therapeutics, Inc. (NASDAQ:FATE) has received an average recommendation of “Hold” from the nine brokerages that are covering the company, MarketBeat reports. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $5.43.

FATE has been the topic of several recent research reports. StockNews.com cut shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, March 11th. Stifel Nicolaus lowered their price target on shares of Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating on the stock in a research report on Thursday, March 6th. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a report on Thursday, March 6th. Wells Fargo & Company decreased their target price on shares of Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th. Finally, Wedbush restated a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a research report on Thursday, March 6th.

Institutional Trading of Fate Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Graham Capital Management L.P. acquired a new position in Fate Therapeutics during the 4th quarter worth approximately $37,000. China Universal Asset Management Co. Ltd. acquired a new position in Fate Therapeutics during the fourth quarter worth $40,000. Brevan Howard Capital Management LP purchased a new position in Fate Therapeutics in the fourth quarter worth $41,000. FPC Investment Advisory Inc. purchased a new stake in shares of Fate Therapeutics during the 4th quarter worth $44,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Fate Therapeutics during the 4th quarter worth $55,000. 97.54% of the stock is owned by institutional investors and hedge funds.

Fate Therapeutics Stock Performance

Shares of Fate Therapeutics stock opened at $1.06 on Monday. The firm has a 50-day simple moving average of $1.06 and a two-hundred day simple moving average of $1.83. Fate Therapeutics has a fifty-two week low of $0.66 and a fifty-two week high of $5.96. The company has a market cap of $121.48 million, a P/E ratio of -0.64 and a beta of 2.41.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.13. The firm had revenue of $1.86 million for the quarter, compared to analysts’ expectations of $1.57 million. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. Equities research analysts forecast that Fate Therapeutics will post -1.63 EPS for the current year.

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.