Fate Therapeutics (NASDAQ:FATE) Stock Rating Reaffirmed by Needham & Company LLC

Fate Therapeutics (NASDAQ:FATE)‘s stock had its “hold” rating reiterated by stock analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports.

Several other analysts also recently issued reports on FATE. Bank of America lifted their price target on Fate Therapeutics from $2.00 to $6.00 and gave the company an “underperform” rating in a research note on Thursday, March 28th. Oppenheimer reiterated a “market perform” rating on shares of Fate Therapeutics in a report on Tuesday, February 27th. Barclays increased their target price on shares of Fate Therapeutics from $6.00 to $10.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. HC Wainwright reissued a “neutral” rating and set a $7.00 price target on shares of Fate Therapeutics in a research report on Tuesday, March 19th. Finally, BMO Capital Markets raised their price objective on Fate Therapeutics from $6.00 to $7.00 and gave the company a “market perform” rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Fate Therapeutics currently has a consensus rating of “Hold” and an average target price of $6.73.

Fate Therapeutics Trading Down 3.0 %

FATE stock opened at $5.77 on Thursday. Fate Therapeutics has a 1-year low of $1.63 and a 1-year high of $8.83. The firm has a market cap of $572.61 million, a PE ratio of -3.52 and a beta of 1.66. The business’s 50-day moving average price is $7.00 and its two-hundred day moving average price is $4.37.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.12. The firm had revenue of $1.68 million for the quarter, compared to the consensus estimate of $0.85 million. Fate Therapeutics had a negative net margin of 253.30% and a negative return on equity of 38.17%. During the same period last year, the company posted ($0.58) EPS. On average, analysts forecast that Fate Therapeutics will post -1.94 earnings per share for the current year.

Institutional Investors Weigh In On Fate Therapeutics

A number of institutional investors have recently made changes to their positions in the company. Natixis acquired a new position in Fate Therapeutics in the 4th quarter valued at $29,000. Coppell Advisory Solutions Corp. acquired a new position in shares of Fate Therapeutics during the 4th quarter worth approximately $42,000. Royal Bank of Canada increased its holdings in shares of Fate Therapeutics by 13.8% during the third quarter. Royal Bank of Canada now owns 4,575 shares of the biopharmaceutical company’s stock worth $103,000 after purchasing an additional 556 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Fate Therapeutics in the first quarter valued at approximately $180,000. Finally, Baird Financial Group Inc. grew its position in Fate Therapeutics by 48.4% during the first quarter. Baird Financial Group Inc. now owns 5,801 shares of the biopharmaceutical company’s stock worth $225,000 after buying an additional 1,892 shares in the last quarter. Institutional investors own 97.54% of the company’s stock.

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.