Fate Therapeutics (NASDAQ:FATE) Stock Crosses Below 200-Day Moving Average – Time to Sell?

Fate Therapeutics, Inc. (NASDAQ:FATE)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.16 and traded as low as $0.9510. Fate Therapeutics shares last traded at $0.9768, with a volume of 3,583,512 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Wedbush upgraded shares of Fate Therapeutics from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $5.00 to $7.00 in a research note on Monday, October 27th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Fate Therapeutics in a research report on Tuesday, November 4th. HC Wainwright raised Fate Therapeutics from a “neutral” rating to a “buy” rating and set a $5.00 price target on the stock in a report on Friday, October 31st. Wall Street Zen lowered Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Fate Therapeutics in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Fate Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $3.92.

Fate Therapeutics Trading Up 1.4%

The company has a market cap of $114.20 million, a PE ratio of -0.75 and a beta of 2.34. The business’s 50 day moving average is $1.17 and its two-hundred day moving average is $1.16.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Thursday, November 13th. The biopharmaceutical company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.02. Fate Therapeutics had a negative return on equity of 51.28% and a negative net margin of 2,187.11%.The business had revenue of $1.74 million for the quarter, compared to analysts’ expectations of $1.63 million. As a group, equities research analysts predict that Fate Therapeutics, Inc. will post -1.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Millennium Management LLC grew its holdings in Fate Therapeutics by 9.6% during the 3rd quarter. Millennium Management LLC now owns 963,871 shares of the biopharmaceutical company’s stock valued at $1,214,000 after buying an additional 84,183 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Fate Therapeutics by 20.0% in the 3rd quarter. Bank of America Corp DE now owns 146,553 shares of the biopharmaceutical company’s stock valued at $185,000 after acquiring an additional 24,423 shares during the last quarter. Algert Global LLC purchased a new position in Fate Therapeutics in the third quarter worth about $135,000. Man Group plc bought a new stake in Fate Therapeutics during the third quarter worth approximately $277,000. Finally, Two Sigma Investments LP increased its stake in Fate Therapeutics by 294.4% during the third quarter. Two Sigma Investments LP now owns 900,757 shares of the biopharmaceutical company’s stock worth $1,135,000 after acquiring an additional 672,352 shares during the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc is a clinical?stage biopharmaceutical company focused on the development of first?in?class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off?the?shelf natural killer (NK) and T?cell products designed to overcome limitations of donor?derived approaches. Fate’s research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.

Central to Fate’s pipeline are multiple iPSC?derived cell therapy candidates in active clinical development.