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 research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $3.9167.

Several analysts have commented on the stock. Wall Street Zen cut shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. HC Wainwright raised 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. Wedbush raised Fate Therapeutics from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $5.00 to $7.00 in a research note on Monday, October 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Fate Therapeutics in a research report on Thursday, January 22nd. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Fate Therapeutics in a report on Tuesday, November 4th.

Institutional Trading of Fate Therapeutics

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Fate Therapeutics by 0.4% in the third quarter. Vanguard Group Inc. now owns 8,798,491 shares of the biopharmaceutical company’s stock worth $11,086,000 after acquiring an additional 31,727 shares in the last quarter. Geode Capital Management LLC boosted its stake in Fate Therapeutics by 7.0% during the second quarter. Geode Capital Management LLC now owns 2,429,167 shares of the biopharmaceutical company’s stock worth $2,721,000 after buying an additional 159,558 shares during the period. Millennium Management LLC boosted its stake in shares of Fate Therapeutics by 9.6% during the 3rd quarter. Millennium Management LLC now owns 963,871 shares of the biopharmaceutical company’s stock worth $1,214,000 after purchasing an additional 84,183 shares during the period. Two Sigma Investments LP lifted its stake in Fate Therapeutics by 294.4% in the third quarter. Two Sigma Investments LP now owns 900,757 shares of the biopharmaceutical company’s stock worth $1,135,000 after purchasing an additional 672,352 shares during the last quarter. Finally, Monaco Asset Management SAM boosted its position in shares of Fate Therapeutics by 14.1% during the third quarter. Monaco Asset Management SAM now owns 770,000 shares of the biopharmaceutical company’s stock valued at $970,000 after buying an additional 95,000 shares during the period. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Fate Therapeutics Price Performance

Shares of FATE opened at $1.19 on Friday. Fate Therapeutics has a 1 year low of $0.66 and a 1 year high of $1.94. The company has a 50 day simple moving average of $1.09 and a two-hundred day simple moving average of $1.14. The firm has a market cap of $137.27 million, a P/E ratio of -0.90 and a beta of 2.22.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Thursday, November 13th. The biopharmaceutical company reported ($0.27) EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.63 million. On average, sell-side analysts anticipate that Fate Therapeutics will post -1.63 earnings per share for the current year.

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.