Fate Therapeutics, Inc. (NASDAQ:FATE) Receives $6.75 Average Price Target from Analysts

Fate Therapeutics, Inc. (NASDAQ:FATE) has been given a consensus rating of “Hold” by the ten research firms that are covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $6.75.

A number of brokerages have issued reports on FATE. HC Wainwright restated a “neutral” rating and set a $5.00 target price on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Bank of America raised Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, November 18th. Wedbush reaffirmed a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a report on Tuesday, November 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research report on Tuesday, November 19th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Doheny Asset Management CA purchased a new position in Fate Therapeutics in the 2nd quarter worth $263,000. Ausdal Financial Partners Inc. purchased a new position in shares of Fate Therapeutics in the second quarter worth about $33,000. Dark Forest Capital Management LP bought a new stake in shares of Fate Therapeutics in the 2nd quarter valued at about $63,000. Castleview Partners LLC bought a new position in Fate Therapeutics during the 3rd quarter worth approximately $73,000. Finally, DRW Securities LLC purchased a new position in Fate Therapeutics in the 2nd quarter worth approximately $71,000. Institutional investors and hedge funds own 97.54% of the company’s stock.

Fate Therapeutics Trading Down 7.0 %

Shares of NASDAQ FATE opened at $2.38 on Tuesday. The firm has a market cap of $271.06 million, a P/E ratio of -1.44 and a beta of 1.95. The business’s 50 day moving average is $2.78 and its 200-day moving average is $3.45. Fate Therapeutics has a 1-year low of $1.96 and a 1-year high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.02. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. The company had revenue of $3.07 million during the quarter, compared to the consensus estimate of $0.88 million. Analysts forecast that Fate Therapeutics will post -1.72 EPS for the current year.

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.