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

Fate Therapeutics, Inc. (NASDAQ:FATE) has earned an average recommendation of “Hold” from the eight analysts that are covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $3.5833.

A number of brokerages recently issued reports on FATE. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research note on Thursday, June 12th. Robert W. Baird dropped their price target on shares of Fate Therapeutics from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Wednesday, May 14th. Wells Fargo & Company dropped their price target on shares of Fate Therapeutics from $4.00 to $2.50 and set an “equal weight” rating for the company in a research note on Wednesday. Wall Street Zen lowered shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, August 10th. Finally, Barclays dropped their price target on shares of Fate Therapeutics from $10.00 to $2.00 and set an “overweight” rating for the company in a research note on Wednesday, May 14th.

Institutional Trading of Fate Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new stake in Fate Therapeutics during the second quarter valued at $56,000. Bridgeway Capital Management LLC bought a new stake in Fate Therapeutics during the second quarter valued at $28,000. Jane Street Group LLC increased its stake in Fate Therapeutics by 631.4% during the second quarter. Jane Street Group LLC now owns 465,820 shares of the biopharmaceutical company’s stock valued at $522,000 after purchasing an additional 402,129 shares during the last quarter. Sei Investments Co. acquired a new position in shares of Fate Therapeutics during the second quarter valued at $76,000. Finally, Invesco Ltd. boosted its holdings in shares of Fate Therapeutics by 19.6% during the second quarter. Invesco Ltd. now owns 255,372 shares of the biopharmaceutical company’s stock valued at $286,000 after acquiring an additional 41,869 shares during the period. Institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Stock Up 1.9%

FATE opened at $1.09 on Friday. The firm has a market capitalization of $125.71 million, a P/E ratio of -0.75 and a beta of 2.24. The firm’s 50 day moving average is $1.16 and its 200-day moving average is $1.14. Fate Therapeutics has a 52-week low of $0.66 and a 52-week high of $4.20.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings data on Tuesday, August 12th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.06. The company had revenue of $1.91 million for the quarter, compared to analyst estimates of $1.16 million. Fate Therapeutics had a negative net margin of 2,025.05% and a negative return on equity of 50.95%. Equities analysts expect that Fate Therapeutics will post -1.63 earnings per share 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.