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

Fate Therapeutics, Inc. (NASDAQ:FATE) has received a consensus recommendation of “Hold” from the seven research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $5.1250.

FATE has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research note on Monday, June 8th. Jefferies Financial Group set a $4.00 price objective on shares of Fate Therapeutics in a research report on Tuesday, May 19th. Finally, Weiss Ratings upgraded shares of Fate Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th.

Insider Activity at Fate Therapeutics

In related news, insider Cindy Tahl sold 25,590 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $1.88, for a total transaction of $48,109.20. Following the completion of the transaction, the insider owned 628,155 shares in the company, valued at approximately $1,180,931.40. The trade was a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 4.74% of the company’s stock.

Institutional Trading of Fate Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of FATE. Renaissance Technologies LLC lifted its stake in Fate Therapeutics by 87.0% during the fourth quarter. Renaissance Technologies LLC now owns 2,360,881 shares of the biopharmaceutical company’s stock worth $2,320,000 after purchasing an additional 1,098,366 shares during the last quarter. Irenic Capital Management LP purchased a new position in Fate Therapeutics in the first quarter valued at approximately $1,054,000. Two Sigma Investments LP increased 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 valued at $1,135,000 after purchasing an additional 672,352 shares during the last quarter. AQR Capital Management LLC raised its holdings in Fate Therapeutics by 296.4% during the first quarter. AQR Capital Management LLC now owns 585,025 shares of the biopharmaceutical company’s stock worth $462,000 after purchasing an additional 437,423 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in Fate Therapeutics by 631.4% during the second quarter. Jane Street Group LLC now owns 465,820 shares of the biopharmaceutical company’s stock worth $522,000 after purchasing an additional 402,129 shares in the last quarter. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Fate Therapeutics Price Performance

FATE stock opened at $2.41 on Friday. The business’s 50-day moving average is $2.41 and its two-hundred day moving average is $1.71. The firm has a market capitalization of $280.91 million, a P/E ratio of -2.21 and a beta of 2.51. Fate Therapeutics has a 1 year low of $0.91 and a 1 year high of $3.23.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.03. Fate Therapeutics had a negative return on equity of 58.89% and a negative net margin of 2,056.79%.The business had revenue of $1.30 million during the quarter, compared to the consensus estimate of $1.49 million. On average, analysts expect that Fate Therapeutics will post -1.04 EPS for the current year.

Fate Therapeutics Company Profile

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.