Fate Therapeutics, Inc. (NASDAQ:FATE) Receives $3.83 Consensus Target Price from Analysts

Fate Therapeutics, Inc. (NASDAQ:FATE) has been given a consensus rating of “Hold” by the eight research firms that are presently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $3.83.

A number of analysts have recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating for the company in a report on Thursday, March 6th. Wall Street Zen cut shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Robert W. Baird decreased their target price on shares of Fate Therapeutics from $5.00 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 14th. 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. Finally, Barclays decreased their target price on shares of Fate Therapeutics from $10.00 to $2.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 14th.

Hedge Funds Weigh In On Fate Therapeutics

Hedge funds have recently modified their holdings of the company. Graham Capital Management L.P. purchased a new position in shares of Fate Therapeutics in the fourth quarter valued at about $37,000. Brevan Howard Capital Management LP purchased a new position in shares of Fate Therapeutics in the fourth quarter valued at about $41,000. FPC Investment Advisory Inc. purchased a new position in shares of Fate Therapeutics in the fourth quarter valued at about $44,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Fate Therapeutics in the fourth quarter valued at about $55,000. Finally, ProShare Advisors LLC increased its position in shares of Fate Therapeutics by 77.9% in the fourth quarter. ProShare Advisors LLC now owns 33,645 shares of the biopharmaceutical company’s stock valued at $56,000 after acquiring an additional 14,728 shares during the period. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Stock Performance

NASDAQ FATE opened at $1.04 on Friday. Fate Therapeutics has a 52-week low of $0.66 and a 52-week high of $5.92. The company has a market capitalization of $119.18 million, a P/E ratio of -0.70 and a beta of 2.23. The company has a fifty day moving average of $1.23 and a 200-day moving average of $1.26.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. Fate Therapeutics had a negative net margin of 1,318.93% and a negative return on equity of 47.17%. The company had revenue of $1.63 million during the quarter, compared to the consensus estimate of $1.18 million. As a group, analysts forecast that Fate Therapeutics will post -1.63 EPS for the current fiscal year.

About Fate Therapeutics

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.