Fate Therapeutics’ (FATE) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Fate Therapeutics (NASDAQ:FATE) in a report published on Monday morning,Benzinga reports.

A number of other equities analysts also recently commented on FATE. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Fate Therapeutics in a report on Wednesday, October 8th. Wells Fargo & Company reduced their price target on shares of Fate Therapeutics from $4.00 to $2.50 and set an “equal weight” rating on the stock in a research report on Wednesday, August 13th. Finally, Wall Street Zen raised shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, August 18th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $3.70.

Fate Therapeutics Stock Down 10.1%

Shares of Fate Therapeutics stock opened at $1.34 on Monday. The business has a 50-day moving average price of $1.21 and a 200 day moving average price of $1.19. Fate Therapeutics has a fifty-two week low of $0.66 and a fifty-two week high of $3.50. The firm has a market cap of $154.54 million, a P/E ratio of -0.92 and a beta of 2.34.

Fate Therapeutics (NASDAQ:FATE) last issued its earnings results on Tuesday, August 12th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.06. Fate Therapeutics had a negative return on equity of 50.95% and a negative net margin of 2,025.05%.The company had revenue of $1.91 million during the quarter, compared to analyst estimates of $1.16 million. As a group, equities research analysts anticipate that Fate Therapeutics will post -1.63 earnings per share for the current year.

Institutional Investors Weigh In On Fate Therapeutics

A number of hedge funds have recently made changes to their positions in FATE. Savant Capital LLC acquired a new position in shares of Fate Therapeutics during the second quarter worth approximately $27,000. Bridgeway Capital Management LLC bought a new stake in Fate Therapeutics during the 2nd quarter valued at $28,000. CWM LLC raised its stake in Fate Therapeutics by 899.6% during the 1st quarter. CWM LLC now owns 41,435 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 37,290 shares in the last quarter. Headlands Technologies LLC acquired a new position in Fate Therapeutics during the 2nd quarter worth $56,000. Finally, Caption Management LLC bought a new position in shares of Fate Therapeutics in the first quarter worth $45,000. Institutional investors own 97.54% of the company’s stock.

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.