Fate Therapeutics (NASDAQ:FATE) Receives Hold Rating from Needham & Company LLC

Fate Therapeutics (NASDAQ:FATE)‘s stock had its “hold” rating reaffirmed by equities researchers at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports.

FATE has been the subject of several other research reports. Wedbush reissued a “neutral” rating and set a $5.00 target price on shares of Fate Therapeutics in a report on Thursday, March 6th. StockNews.com lowered Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, March 11th. Wells Fargo & Company lowered their target price on 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, Stifel Nicolaus decreased their price target on Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating for the company in a report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Fate Therapeutics currently has an average rating of “Hold” and a consensus price target of $4.60.

Fate Therapeutics Stock Down 6.5%

FATE opened at $1.00 on Wednesday. The firm’s 50-day moving average price is $1.01 and its 200-day moving average price is $1.54. The company has a market cap of $114.60 million, a P/E ratio of -0.61 and a beta of 2.32. Fate Therapeutics has a 52-week low of $0.66 and a 52-week high of $5.92.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. The company had revenue of $1.63 million during the quarter, compared to analysts’ expectations of $1.18 million. On average, research analysts anticipate that Fate Therapeutics will post -1.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Tang Capital Management LLC raised its holdings in Fate Therapeutics by 165.1% in the 4th quarter. Tang Capital Management LLC now owns 1,855,954 shares of the biopharmaceutical company’s stock valued at $3,062,000 after acquiring an additional 1,155,954 shares during the last quarter. Walleye Capital LLC grew its holdings in Fate Therapeutics by 1,502.0% in the 4th quarter. Walleye Capital LLC now owns 1,083,092 shares of the biopharmaceutical company’s stock valued at $1,787,000 after buying an additional 1,015,483 shares in the last quarter. Monaco Asset Management SAM boosted its position in shares of Fate Therapeutics by 250.9% during the 1st quarter. Monaco Asset Management SAM now owns 1,149,708 shares of the biopharmaceutical company’s stock valued at $908,000 after acquiring an additional 822,037 shares during the last quarter. Cerity Partners LLC increased its position in Fate Therapeutics by 4,953.6% during the fourth quarter. Cerity Partners LLC now owns 823,134 shares of the biopharmaceutical company’s stock worth $1,358,000 after purchasing an additional 806,846 shares during the last quarter. Finally, Vestal Point Capital LP boosted its holdings in Fate Therapeutics by 46.3% in the 4th quarter. Vestal Point Capital LP now owns 2,465,000 shares of the biopharmaceutical company’s stock valued at $4,067,000 after purchasing an additional 780,000 shares during the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

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.