Fate Therapeutics, Inc. (NASDAQ:FATE) Given Average Rating of “Hold” by Brokerages

Fate Therapeutics, Inc. (NASDAQ:FATE) has been assigned a consensus rating of “Hold” from the nine brokerages that are covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $5.43.

A number of brokerages recently commented on FATE. StockNews.com downgraded Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, March 11th. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a report on Thursday, March 6th. Wells Fargo & Company lowered their price target on shares of Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. Stifel Nicolaus cut their price objective on shares of Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating for the company in a research report on Thursday, March 6th. Finally, Wedbush reiterated a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a report on Thursday, March 6th.

Institutional Investors Weigh In On Fate Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in Fate Therapeutics by 899.6% in the 1st quarter. CWM LLC now owns 41,435 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 37,290 shares in the last quarter. Graham Capital Management L.P. acquired a new position in shares of Fate Therapeutics in the fourth quarter worth about $37,000. China Universal Asset Management Co. Ltd. purchased a new position in Fate Therapeutics in the fourth quarter valued at about $40,000. Brevan Howard Capital Management LP acquired a new stake in Fate Therapeutics during the 4th quarter valued at approximately $41,000. Finally, FPC Investment Advisory Inc. acquired a new stake in Fate Therapeutics during the 4th quarter valued at approximately $44,000. 97.54% of the stock is owned by institutional investors and hedge funds.

Fate Therapeutics Stock Performance

NASDAQ:FATE opened at $1.24 on Friday. The firm’s fifty day moving average is $1.01 and its two-hundred day moving average is $1.66. The firm has a market cap of $142.11 million, a price-to-earnings ratio of -0.75 and a beta of 2.41. Fate Therapeutics has a one year low of $0.66 and a one year high of $5.92.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.13. 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 $1.86 million during the quarter, compared to analysts’ expectations of $1.57 million. As a group, equities research analysts predict that Fate Therapeutics will post -1.63 earnings per share for the current fiscal year.

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.