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

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

Several other equities analysts also recently issued reports on the stock. Wall Street Zen raised shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, May 15th. Robert W. Baird reduced their price target on shares of Fate Therapeutics from $5.00 to $4.00 and set a “neutral” rating for the company in a report on Wednesday, May 14th. Wedbush reissued a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a report on Thursday, March 6th. Stifel Nicolaus reduced their price target on shares of Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating for the company in a report on Thursday, March 6th. Finally, Wells Fargo & Company reduced their price objective on shares of Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Fate Therapeutics currently has an average rating of “Hold” and an average target price of $4.14.

Fate Therapeutics Price Performance

Fate Therapeutics stock opened at $1.28 on Thursday. Fate Therapeutics has a 12 month low of $0.66 and a 12 month high of $5.92. The company has a market cap of $146.12 million, a PE ratio of -0.77 and a beta of 2.23. The company has a fifty day moving average price of $1.20 and a two-hundred day moving average price of $1.37.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.07. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. The company had revenue of $1.63 million during the quarter, compared to the consensus estimate of $1.18 million. 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

Institutional investors have recently bought and sold shares of the stock. CWM LLC lifted its holdings in Fate Therapeutics by 899.6% in the first quarter. CWM LLC now owns 41,435 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 37,290 shares during the period. Graham Capital Management L.P. bought a new stake in Fate Therapeutics in the fourth quarter worth about $37,000. Brevan Howard Capital Management LP bought a new stake in Fate Therapeutics in the fourth quarter worth about $41,000. FPC Investment Advisory Inc. bought a new stake in Fate Therapeutics in the fourth quarter worth about $44,000. Finally, Caption Management LLC bought a new stake in Fate Therapeutics in the first quarter worth about $45,000. Institutional investors and hedge funds 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.