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

Fate Therapeutics, Inc. (NASDAQ:FATE)’s share price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.18 and traded as low as $1.06. Fate Therapeutics shares last traded at $1.08, with a volume of 738,447 shares changing hands.

Wall Street Analysts Forecast Growth

FATE has been the subject of a number of recent analyst reports. Wedbush raised Fate Therapeutics from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $5.00 to $7.00 in a research note on Monday, October 27th. HC Wainwright upgraded Fate Therapeutics from a “neutral” rating to a “buy” rating and set a $5.00 price target for the company in a research note on Friday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a report on Monday, October 27th. Wells Fargo & Company reduced their price objective on shares of Fate Therapeutics from $4.00 to $2.50 and set an “equal weight” rating on the stock in a research report on Wednesday, August 13th. Finally, Wall Street Zen lowered shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Fate Therapeutics currently has an average rating of “Hold” and an average price target of $3.92.

Fate Therapeutics Stock Down 1.8%

The business’s fifty day moving average is $1.25 and its two-hundred day moving average is $1.18. The stock has a market capitalization of $124.58 million, a PE ratio of -0.82 and a beta of 2.34.

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

Institutional Investors Weigh In On Fate Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its position in shares of Fate Therapeutics by 67.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,473,565 shares of the biopharmaceutical company’s stock valued at $1,952,000 after purchasing an additional 999,773 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Fate Therapeutics by 38.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,203,323 shares of the biopharmaceutical company’s stock worth $1,741,000 after buying an additional 616,336 shares during the period. Nuveen LLC bought a new position in Fate Therapeutics during the first quarter valued at $300,000. Vanguard Personalized Indexing Management LLC raised its stake in shares of Fate Therapeutics by 65.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 71,364 shares of the biopharmaceutical company’s stock valued at $80,000 after acquiring an additional 28,268 shares during the period. Finally, XTX Topco Ltd raised its stake in shares of Fate Therapeutics by 83.9% in the first quarter. XTX Topco Ltd now owns 459,308 shares of the biopharmaceutical company’s stock valued at $363,000 after acquiring an additional 209,508 shares during the period. 97.54% of the stock is owned by institutional investors.

About Fate Therapeutics

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.