Fate Therapeutics (NASDAQ:FATE) Receives “Neutral” Rating from Wedbush

Fate Therapeutics (NASDAQ:FATE)‘s stock had its “neutral” rating reiterated by equities researchers at Wedbush in a note issued to investors on Tuesday, Benzinga reports. They presently have a $7.00 target price on the biopharmaceutical company’s stock. Wedbush’s price target would indicate a potential upside of 62.79% from the company’s current price.

Several other research analysts also recently commented on the company. HC Wainwright restated a “neutral” rating and set a $7.00 price objective on shares of Fate Therapeutics in a report on Tuesday, March 19th. Morgan Stanley raised their price objective on Fate Therapeutics from $3.00 to $7.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 27th. Bank of America raised their price objective on Fate Therapeutics from $2.00 to $6.00 and gave the stock an “underperform” rating in a report on Thursday, March 28th. BMO Capital Markets lifted their price target on Fate Therapeutics from $6.00 to $7.00 and gave the company a “market perform” rating in a report on Tuesday, February 27th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Fate Therapeutics has a consensus rating of “Hold” and an average price target of $6.73.

Fate Therapeutics Stock Down 5.3 %

FATE opened at $4.30 on Tuesday. The stock’s fifty day moving average is $6.84 and its two-hundred day moving average is $4.56. The company has a market capitalization of $489.41 million, a P/E ratio of -2.62 and a beta of 1.66. Fate Therapeutics has a 52 week low of $1.63 and a 52 week high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Monday, February 26th. The biopharmaceutical company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.12. The company had revenue of $1.68 million for the quarter, compared to the consensus estimate of $0.85 million. Fate Therapeutics had a negative return on equity of 38.17% and a negative net margin of 253.30%. During the same period last year, the business posted ($0.58) EPS. Equities analysts anticipate that Fate Therapeutics will post -1.94 earnings per share for the current year.

Institutional Trading of Fate Therapeutics

A number of institutional investors have recently made changes to their positions in FATE. Assenagon Asset Management S.A. boosted its position in shares of Fate Therapeutics by 1,462.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,548,304 shares of the biopharmaceutical company’s stock worth $18,705,000 after purchasing an additional 2,385,207 shares in the last quarter. Vestal Point Capital LP acquired a new stake in shares of Fate Therapeutics in the 4th quarter worth $4,825,000. Acadian Asset Management LLC boosted its position in shares of Fate Therapeutics by 135.5% in the 3rd quarter. Acadian Asset Management LLC now owns 2,149,597 shares of the biopharmaceutical company’s stock worth $4,555,000 after purchasing an additional 1,236,680 shares in the last quarter. Superstring Capital Management LP acquired a new stake in shares of Fate Therapeutics in the 4th quarter worth $3,171,000. Finally, Monaco Asset Management SAM boosted its position in shares of Fate Therapeutics by 83.8% in the 3rd quarter. Monaco Asset Management SAM now owns 1,847,944 shares of the biopharmaceutical company’s stock worth $3,918,000 after purchasing an additional 842,718 shares in the last quarter. 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.