Fate Therapeutics (NASDAQ:FATE) Shares Cross Above 50-Day Moving Average – Time to Sell?

Fate Therapeutics, Inc. (NASDAQ:FATE) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $1.05 and traded as high as $1.2150. Fate Therapeutics shares last traded at $1.19, with a volume of 5,115,973 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FATE shares. Wedbush raised Fate Therapeutics from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $5.00 to $7.00 in a report on Monday, October 27th. Wall Street Zen downgraded shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Fate Therapeutics in a research note on Wednesday, October 8th. HC Wainwright upgraded shares of Fate Therapeutics from a “neutral” rating to a “buy” rating and set a $5.00 price target on the stock in a research note on Friday, October 31st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a report on Monday, October 27th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Fate Therapeutics currently has an average rating of “Hold” and a consensus price target of $3.92.

Fate Therapeutics Price Performance

The business’s 50-day moving average is $1.05 and its 200 day moving average is $1.13. The firm has a market capitalization of $137.27 million, a P/E ratio of -0.90 and a beta of 2.22.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings data 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 firm had revenue of $1.74 million during the quarter, compared to the consensus estimate of $1.63 million. Analysts anticipate that Fate Therapeutics, Inc. will post -1.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Fate Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Savant Capital LLC acquired a new position in Fate Therapeutics in the 2nd quarter valued at $27,000. Bridgeway Capital Management LLC bought a new position in shares of Fate Therapeutics in the second quarter worth $28,000. Russell Investments Group Ltd. raised its stake in Fate Therapeutics by 73.1% in the third quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 12,114 shares in the last quarter. SG Americas Securities LLC lifted its position in Fate Therapeutics by 161.2% during the fourth quarter. SG Americas Securities LLC now owns 38,913 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 24,013 shares during the period. Finally, Jane Street Group LLC lifted its position in Fate Therapeutics by 106.9% during the first quarter. Jane Street Group LLC now owns 63,691 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 32,911 shares during the period. Institutional investors own 97.54% of the company’s stock.

About Fate Therapeutics

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.