Fate Therapeutics, Inc. (NASDAQ:FATE) Given Consensus Rating of “Hold” by Analysts

Fate Therapeutics, Inc. (NASDAQ:FATE) has received a consensus rating of “Hold” from the seven ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $5.1250.

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

Fate Therapeutics Trading Up 11.6%

Shares of Fate Therapeutics stock opened at $2.70 on Wednesday. Fate Therapeutics has a 12-month low of $0.91 and a 12-month high of $2.88. The firm has a market capitalization of $314.71 million, a price-to-earnings ratio of -2.48 and a beta of 2.53. The firm’s 50 day simple moving average is $2.01 and its two-hundred day simple moving average is $1.48.

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

Insider Buying and Selling at Fate Therapeutics

In other news, insider Cindy Tahl sold 25,590 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $1.88, for a total value of $48,109.20. Following the sale, the insider owned 628,155 shares in the company, valued at $1,180,931.40. This represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.74% of the stock is owned by insiders.

Institutional Trading of Fate Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC acquired a new stake in shares of Fate Therapeutics in the fourth quarter worth $26,000. Bridgeway Capital Management LLC acquired a new stake in shares of Fate Therapeutics in the second quarter worth $28,000. Corient Private Wealth LLC acquired a new stake in Fate Therapeutics during the fourth quarter worth about $29,000. The Manufacturers Life Insurance Company acquired a new stake in Fate Therapeutics during the fourth quarter worth about $35,000. Finally, Russell Investments Group Ltd. grew its holdings in Fate Therapeutics by 73.1% during the third quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 12,114 shares during the period. Institutional investors and hedge funds own 97.54% of the company’s stock.

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.