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

Fate Therapeutics, Inc. (NASDAQ:FATE) has been given a consensus recommendation of “Hold” by the nine research firms that are currently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $5.50.

A number of brokerages have issued reports on FATE. Wells Fargo & Company reduced their price objective on shares of Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. Wedbush reaffirmed a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a report on Thursday, March 6th. Stifel Nicolaus decreased their price target on Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating for the company in a research report on Thursday, March 6th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research report on Thursday, March 6th. Finally, StockNews.com downgraded Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday.

Insider Activity at Fate Therapeutics

In other Fate Therapeutics news, Director Redmile Group, Llc bought 397,964 shares of Fate Therapeutics stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average cost of $1.68 per share, for a total transaction of $668,579.52. Following the completion of the transaction, the director now directly owns 12,884,277 shares in the company, valued at $21,645,585.36. This represents a 3.19 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 5.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC boosted its holdings in shares of Fate Therapeutics by 27.5% in the 4th quarter. Intech Investment Management LLC now owns 39,443 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 8,497 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Fate Therapeutics by 30.6% during the fourth quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company’s stock worth $74,000 after acquiring an additional 10,511 shares in the last quarter. Geode Capital Management LLC lifted its stake in Fate Therapeutics by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company’s stock worth $7,905,000 after purchasing an additional 10,863 shares during the last quarter. American Century Companies Inc. boosted its position in Fate Therapeutics by 6.6% during the fourth quarter. American Century Companies Inc. now owns 197,704 shares of the biopharmaceutical company’s stock valued at $326,000 after buying an additional 12,295 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Fate Therapeutics by 9.6% in the fourth quarter. Franklin Resources Inc. now owns 165,353 shares of the biopharmaceutical company’s stock worth $273,000 after buying an additional 14,532 shares during the period. Institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Trading Up 5.2 %

Shares of Fate Therapeutics stock opened at $1.01 on Thursday. The company has a market capitalization of $115.74 million, a P/E ratio of -0.61 and a beta of 2.26. The stock has a fifty day simple moving average of $1.32 and a 200 day simple moving average of $2.30. Fate Therapeutics has a 12-month low of $0.87 and a 12-month high of $7.98.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.13. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. The firm had revenue of $1.86 million during the quarter, compared to analyst estimates of $1.57 million. On average, analysts predict that Fate Therapeutics will post -1.63 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.