Equities research analysts at Roth Capital initiated coverage on shares of Fate Therapeutics Inc. (NASDAQ:FATE) in a report issued on Thursday. The brokerage set a “buy” rating on the biopharmaceutical company’s stock.

FATE has been the subject of several other research reports. BMO Capital Markets set a $4.00 price target on shares of Fate Therapeutics and gave the company a “buy” rating in a report on Monday, August 8th. Zacks Investment Research upgraded shares of Fate Therapeutics from a “hold” rating to a “buy” rating and set a $2.75 target price for the company in a report on Thursday, August 11th. Leerink Swann restated an “outperform” rating and set a $4.00 target price on shares of Fate Therapeutics in a report on Tuesday, June 21st. Finally, HC Wainwright began coverage on shares of Fate Therapeutics in a report on Thursday, July 28th. They set a “buy” rating and a $9.00 target price for the company. Nine analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average price target of $6.29.

Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

Shares of Fate Therapeutics (NASDAQ:FATE) opened at 3.18 on Thursday. The stock’s market cap is $91.88 million. The firm has a 50-day moving average of $2.65 and a 200-day moving average of $2.03. Fate Therapeutics has a 52-week low of $1.46 and a 52-week high of $7.00.

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Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.03. The company earned $1.03 million during the quarter, compared to analysts’ expectations of $1.02 million. Fate Therapeutics had a negative net margin of 699.10% and a negative return on equity of 90.94%. On average, equities analysts expect that Fate Therapeutics will post ($1.12) EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the company. Spark Investment Management LLC raised its position in Fate Therapeutics by 1.8% in the first quarter. Spark Investment Management LLC now owns 63,700 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 1,100 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Fate Therapeutics by 7.8% in the second quarter. Bank of New York Mellon Corp now owns 68,444 shares of the biopharmaceutical company’s stock worth $117,000 after buying an additional 4,941 shares during the last quarter. Lombard Odier Asset Management USA Corp increased its stake in shares of Fate Therapeutics by 2.8% in the second quarter. Lombard Odier Asset Management USA Corp now owns 256,426 shares of the biopharmaceutical company’s stock worth $436,000 after buying an additional 7,052 shares during the last quarter. Redmile Group LLC increased its stake in shares of Fate Therapeutics by 1.0% in the second quarter. Redmile Group LLC now owns 1,502,180 shares of the biopharmaceutical company’s stock worth $2,554,000 after buying an additional 15,200 shares during the last quarter. Finally, BlackRock Fund Advisors increased its stake in shares of Fate Therapeutics by 26.2% in the second quarter. BlackRock Fund Advisors now owns 75,572 shares of the biopharmaceutical company’s stock worth $128,000 after buying an additional 15,701 shares during the last quarter. 48.71% of the stock is currently owned by institutional investors and hedge funds.

About Fate Therapeutics

Fate Therapeutics, Inc (Fate Therapeutics) is a clinical-stage biopharmaceutical company. The Company is engaged in development of programmed cellular immunotherapies for cancer and immune disorders. The Company’s cell therapy pipeline consists of immuno-oncology programs, including cancer immunotherapies derived from engineered induced pluripotent cells, and immuno-regulatory programs, including hematopoietic cell immunotherapies for protecting the immune system of patients undergoing hematopoietic cell transplantation and for suppressing autoimmunity.

5 Day Chart for NASDAQ:FATE

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