Fate Therapeutics, Inc. (NASDAQ:FATE) Receives Consensus Recommendation of “Hold” from Analysts

Fate Therapeutics, Inc. (NASDAQ:FATE) has been assigned an average recommendation of “Hold” from the seven brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $5.1250.

Several brokerages recently issued reports on FATE. HC Wainwright lifted their price target on shares of Fate Therapeutics from $5.00 to $7.00 and gave the company a “buy” rating in a report on Monday, May 4th. Jefferies Financial Group set a $4.00 price target on shares of Fate Therapeutics in a report on Tuesday, May 19th. Finally, Weiss Ratings raised shares of Fate Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th.

Fate Therapeutics Stock Performance

NASDAQ:FATE opened at $1.98 on Friday. The company has a 50-day moving average of $1.73 and a 200-day moving average of $1.36. The company has a market capitalization of $230.79 million, a price-to-earnings ratio of -1.82 and a beta of 2.53. Fate Therapeutics has a 52 week low of $0.91 and a 52 week high of $2.88.

Fate Therapeutics (NASDAQ:FATE) last released 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. The company had revenue of $1.30 million during the quarter, compared to the consensus estimate of $1.49 million. Fate Therapeutics had a negative net margin of 2,056.79% and a negative return on equity of 58.89%. Sell-side analysts forecast that Fate Therapeutics will post -1.04 EPS for the current year.

Insider Transactions at Fate Therapeutics

In related news, insider Cindy Tahl sold 25,590 shares of Fate Therapeutics stock in a transaction dated 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 directly owned 628,155 shares of the company’s stock, valued at $1,180,931.40. This trade represents a 3.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.74% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fate Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC bought a new position in Fate Therapeutics during the 4th quarter valued at about $26,000. Bridgeway Capital Management LLC bought a new position in Fate Therapeutics during the 2nd quarter valued at about $28,000. Corient Private Wealth LLC bought a new position in Fate Therapeutics during the 4th quarter valued at about $29,000. The Manufacturers Life Insurance Company bought a new position in Fate Therapeutics during the 4th quarter valued at about $35,000. Finally, Russell Investments Group Ltd. lifted its holdings in Fate Therapeutics by 73.1% during the 3rd 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 during the last quarter. 97.54% of the stock is owned by institutional investors.

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.