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

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have been assigned a consensus recommendation of “Hold” from the eight research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $3.30.

A number of research firms recently issued reports on FATE. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research report on Thursday, June 12th. Wells Fargo & Company lowered their price objective on shares of Fate Therapeutics from $4.00 to $2.50 and set an “equal weight” rating for the company in a research report on Wednesday, August 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Fate Therapeutics in a research report on Saturday, September 27th. Finally, Wall Street Zen upgraded shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, August 18th.

Fate Therapeutics Stock Performance

Shares of Fate Therapeutics stock opened at $1.21 on Monday. The company has a 50 day moving average of $1.06 and a 200-day moving average of $1.11. Fate Therapeutics has a 1-year low of $0.66 and a 1-year high of $3.50. The company has a market cap of $139.55 million, a PE ratio of -0.83 and a beta of 2.34.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Tuesday, August 12th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.06. Fate Therapeutics had a negative net margin of 2,025.05% and a negative return on equity of 50.95%. The company had revenue of $1.91 million during the quarter, compared to the consensus estimate of $1.16 million. Research analysts forecast that Fate Therapeutics will post -1.63 earnings per share for the current year.

Institutional Investors Weigh In On Fate Therapeutics

Several large investors have recently modified their holdings of the company. Vestal Point Capital LP increased its position in shares of Fate Therapeutics by 2.1% during the first quarter. Vestal Point Capital LP now owns 2,515,850 shares of the biopharmaceutical company’s stock worth $1,988,000 after buying an additional 50,850 shares during the period. Acadian Asset Management LLC boosted its stake in Fate Therapeutics by 67.8% during the first quarter. Acadian Asset Management LLC now owns 2,473,565 shares of the biopharmaceutical company’s stock worth $1,952,000 after acquiring an additional 999,773 shares in the last quarter. Geode Capital Management LLC boosted its stake in Fate Therapeutics by 7.0% during the second quarter. Geode Capital Management LLC now owns 2,429,167 shares of the biopharmaceutical company’s stock worth $2,721,000 after acquiring an additional 159,558 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Fate Therapeutics by 38.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,203,323 shares of the biopharmaceutical company’s stock worth $1,741,000 after acquiring an additional 616,336 shares in the last quarter. Finally, Monaco Asset Management SAM boosted its stake in Fate Therapeutics by 250.9% during the first quarter. Monaco Asset Management SAM now owns 1,149,708 shares of the biopharmaceutical company’s stock worth $908,000 after acquiring an additional 822,037 shares in the last quarter. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.