Fate Therapeutics (NASDAQ:FATE) Rating Lowered to “Sell” at Wall Street Zen

Fate Therapeutics (NASDAQ:FATE) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

FATE has been the topic of a number of other reports. Wells Fargo & Company lowered their price target on shares of Fate Therapeutics from $4.00 to $2.50 and set an “equal weight” rating on the stock in a report on Wednesday, August 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a report on Monday, October 27th. Wedbush raised Fate Therapeutics from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $5.00 to $7.00 in a research report on Monday, October 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Fate Therapeutics in a research report on Wednesday, October 8th. Finally, HC Wainwright raised Fate Therapeutics from a “neutral” rating to a “buy” rating and set a $5.00 price target for the company in a report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Fate Therapeutics has an average rating of “Hold” and an average target price of $3.92.

Fate Therapeutics Price Performance

NASDAQ:FATE opened at $1.07 on Friday. Fate Therapeutics has a 1-year low of $0.66 and a 1-year high of $3.50. The company has a 50-day moving average of $1.22 and a 200 day moving average of $1.19. The firm has a market cap of $123.40 million, a PE ratio of -0.74 and a beta of 2.42.

Fate Therapeutics (NASDAQ:FATE) last released 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 firm had revenue of $1.91 million for the quarter, compared to the consensus estimate of $1.16 million. Fate Therapeutics had a negative net margin of 2,025.05% and a negative return on equity of 50.95%. Sell-side analysts anticipate that Fate Therapeutics will post -1.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Fate Therapeutics

Several large investors have recently made changes to their positions in FATE. Savant Capital LLC lifted its holdings in Fate Therapeutics by 48.6% during the 3rd quarter. Savant Capital LLC now owns 35,968 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 11,763 shares during the last quarter. CWM LLC boosted its holdings in shares of Fate Therapeutics by 33.7% in the 3rd quarter. CWM LLC now owns 66,093 shares of the biopharmaceutical company’s stock valued at $83,000 after buying an additional 16,655 shares in the last quarter. Privium Fund Management B.V. boosted its stake in Fate Therapeutics by 25.3% in the first quarter. Privium Fund Management B.V. now owns 109,026 shares of the biopharmaceutical company’s stock valued at $86,000 after acquiring an additional 22,026 shares in the last quarter. Bridgeway Capital Management LLC purchased a new position in shares of Fate Therapeutics during the second quarter worth about $28,000. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Fate Therapeutics by 65.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 71,364 shares of the biopharmaceutical company’s stock worth $80,000 after purchasing an additional 28,268 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.