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

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have received an average recommendation of “Hold” from the twelve brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $6.90.

Several brokerages recently issued reports on FATE. HC Wainwright reaffirmed a “neutral” rating and set a $5.00 target price on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Piper Sandler upgraded Fate Therapeutics from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $4.00 to $6.00 in a report on Monday, June 17th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a report on Wednesday, August 14th.

Fate Therapeutics Stock Up 5.1 %

Shares of NASDAQ:FATE opened at $3.09 on Monday. The firm has a market cap of $351.74 million, a P/E ratio of -1.61 and a beta of 1.83. Fate Therapeutics has a 12-month low of $1.63 and a 12-month high of $8.83. The business has a fifty day simple moving average of $3.57 and a 200 day simple moving average of $4.09.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.14. The business had revenue of $6.77 million during the quarter, compared to analyst estimates of $1.47 million. Fate Therapeutics had a negative return on equity of 44.09% and a negative net margin of 1,426.67%. As a group, equities research analysts expect that Fate Therapeutics will post -1.73 EPS for the current year.

Institutional Trading of Fate Therapeutics

Several large investors have recently made changes to their positions in FATE. Ausdal Financial Partners Inc. acquired a new stake in shares of Fate Therapeutics in the 2nd quarter valued at about $33,000. Dark Forest Capital Management LP acquired a new position in Fate Therapeutics during the 2nd quarter valued at about $63,000. DRW Securities LLC acquired a new position in Fate Therapeutics during the 2nd quarter valued at about $71,000. Arizona State Retirement System acquired a new position in Fate Therapeutics during the 2nd quarter valued at about $84,000. Finally, Headlands Technologies LLC boosted its stake in Fate Therapeutics by 5,258.6% during the 2nd quarter. Headlands Technologies LLC now owns 28,508 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 27,976 shares during the last quarter. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.