Fate Therapeutics, Inc. (NASDAQ:FATE) Receives $5.12 Consensus Price Target from Analysts

Fate Therapeutics, Inc. (NASDAQ:FATE) has been assigned an average recommendation of “Hold” from the seven analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $5.1250.

A number of analysts have issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Fate Therapeutics in a research report on Monday, June 8th. Jefferies Financial Group set a $4.00 price objective on Fate Therapeutics in a research note on Tuesday, May 19th. Finally, Weiss Ratings upgraded Fate Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th.

Insider Buying and Selling

In other Fate Therapeutics news, insider Cindy Tahl sold 25,590 shares of Fate Therapeutics stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $1.88, for a total value of $48,109.20. Following the completion of the transaction, the insider directly owned 628,155 shares of the company’s stock, valued at $1,180,931.40. The trade was a 3.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.74% of the stock is owned by company insiders.

Institutional Trading of Fate Therapeutics

Several hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC acquired a new position in shares of Fate Therapeutics in the fourth quarter valued at approximately $26,000. Bridgeway Capital Management LLC acquired a new stake in Fate Therapeutics during the 2nd quarter worth approximately $28,000. Corient Private Wealth LLC acquired a new stake in Fate Therapeutics during the 4th quarter worth approximately $29,000. The Manufacturers Life Insurance Company purchased a new position in Fate Therapeutics in the 4th quarter valued at approximately $35,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Fate Therapeutics by 73.1% in the third quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 12,114 shares in the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.

Fate Therapeutics Price Performance

Shares of FATE stock opened at $2.32 on Friday. Fate Therapeutics has a 1-year low of $0.91 and a 1-year high of $3.23. The firm has a market cap of $270.42 million, a PE ratio of -2.13 and a beta of 2.51. The company has a 50-day moving average of $2.44 and a two-hundred day moving average of $1.73.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.03. The business had revenue of $1.30 million for the quarter, compared to the consensus estimate of $1.49 million. Fate Therapeutics had a negative net margin of 2,056.79% and a negative return on equity of 58.89%. Sell-side analysts anticipate that Fate Therapeutics will post -1.04 EPS for the current fiscal year.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc is a clinical?stage biopharmaceutical company focused on the development of first?in?class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off?the?shelf natural killer (NK) and T?cell products designed to overcome limitations of donor?derived approaches. Fate’s research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.

Central to Fate’s pipeline are multiple iPSC?derived cell therapy candidates in active clinical development.