Fate Therapeutics, Inc. (NASDAQ:FATE) Given Average Rating of “Hold” by Analysts

Fate Therapeutics, Inc. (NASDAQ:FATE) has been given an average recommendation of “Hold” by the nine ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $3.9167.

A number of equities analysts recently issued reports on the stock. Wedbush upgraded shares of Fate Therapeutics from a “neutral” rating to an “outperform” rating and increased their target price for the company from $5.00 to $7.00 in a research report on Monday, October 27th. Wall Street Zen cut shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Fate Therapeutics in a research note on Tuesday, November 4th. HC Wainwright upgraded Fate Therapeutics from a “neutral” rating to a “buy” rating and set a $5.00 target price for the company in a research report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Fate Therapeutics in a research note on Wednesday, October 8th.

Fate Therapeutics Price Performance

FATE opened at $1.05 on Friday. The stock’s 50 day moving average price is $1.22 and its 200 day moving average price is $1.17. The stock has a market cap of $121.12 million, a P/E ratio of -0.80 and a beta of 2.34. Fate Therapeutics has a 12 month low of $0.66 and a 12 month high of $1.99.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Thursday, November 13th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.02. The company had revenue of $1.74 million during the quarter, compared to analyst estimates of $1.63 million. Fate Therapeutics had a negative return on equity of 51.28% and a negative net margin of 2,187.11%. Equities analysts anticipate that Fate Therapeutics will post -1.63 EPS for the current year.

Institutional Investors Weigh In On Fate Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Savant Capital LLC raised its holdings in Fate Therapeutics by 48.6% in the 3rd quarter. Savant Capital LLC now owns 35,968 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 11,763 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Fate Therapeutics by 73.1% during the third quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 12,114 shares during the period. CWM LLC raised its stake in shares of Fate Therapeutics by 33.7% in the third quarter. CWM LLC now owns 66,093 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 16,655 shares in the last quarter. Bank of America Corp DE lifted its position in Fate Therapeutics by 20.0% in the third quarter. Bank of America Corp DE now owns 146,553 shares of the biopharmaceutical company’s stock worth $185,000 after purchasing an additional 24,423 shares during the period. Finally, Bridgeway Capital Management LLC acquired a new stake in Fate Therapeutics during the second quarter worth $28,000. 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.