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

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have earned a consensus rating of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $5.43.

A number of brokerages have recently issued reports on FATE. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a report on Thursday, March 6th. StockNews.com downgraded Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, March 11th. Wedbush reaffirmed a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a research note on Thursday, March 6th. Stifel Nicolaus cut their price objective 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. Finally, Wells Fargo & Company decreased their target price on shares of Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th.

Hedge Funds Weigh In On Fate Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Graham Capital Management L.P. acquired a new stake in Fate Therapeutics during the 4th quarter worth approximately $37,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Fate Therapeutics during the fourth quarter worth $40,000. Brevan Howard Capital Management LP acquired a new stake in shares of Fate Therapeutics in the fourth quarter valued at $41,000. FPC Investment Advisory Inc. purchased a new position in Fate Therapeutics in the fourth quarter valued at $44,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Fate Therapeutics during the 4th quarter worth $55,000. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Fate Therapeutics Stock Up 10.7 %

Shares of NASDAQ:FATE opened at $0.75 on Monday. Fate Therapeutics has a 52-week low of $0.66 and a 52-week high of $6.98. The stock has a market cap of $86.28 million, a P/E ratio of -0.46 and a beta of 2.26. The business has a fifty day moving average of $1.12 and a two-hundred day moving average of $1.95.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings data on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, equities analysts anticipate that Fate Therapeutics will post -1.63 earnings per share 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.