Fate Therapeutics, Inc. (FATE) – What Are Investment Firms Saying About This Stock?

Fate Therapeutics, Inc. (NASDAQ:FATE) has received an average rating of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $5.80.

A number of research analysts recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Fate Therapeutics in a research note on Wednesday, November 4th. Wedbush restated an “outperform” rating and set a $7.00 target price on shares of Fate Therapeutics in a research report on Tuesday, October 27th. Piper Sandler reiterated an “overweight” rating and issued a $8.00 target price (up from $6.00) on shares of Fate Therapeutics in a research note on Friday, August 14th. Wells Fargo & Company lowered their price objective on Fate Therapeutics from $3.50 to $3.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Wall Street Zen lowered Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday.

Fate Therapeutics Trading Up 5.7%

Shares of Fate Therapeutics stock opened at $1.94 on Tuesday. The company has a fifty day simple moving average of $2.23 and a 200-day simple moving average of $1.98. The stock has a market cap of $232.45 million, a price-to-earnings ratio of -1.88 and a beta of 2.65. Fate Therapeutics has a 12-month low of $0.95 and a 12-month high of $3.23.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Thursday, November 5th. The biopharmaceutical company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.02. The firm had revenue of $1.35 million for the quarter, compared to analyst estimates of $1.14 million. Fate Therapeutics had a negative net margin of 1,941.09% and a negative return on equity of 65.08%. On average, analysts forecast that Fate Therapeutics will post -1.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fate Therapeutics

Several institutional investors have recently added to or reduced their stakes in FATE. Callan Family Office LLC acquired a new position in shares of Fate Therapeutics during the 2nd quarter valued at about $29,000. Bank of New York Mellon Corp purchased a new stake in Fate Therapeutics in the second quarter valued at approximately $31,000. HB Wealth Management LLC purchased a new stake in Fate Therapeutics in the second quarter valued at approximately $31,000. Focus Partners Advisor Solutions LLC acquired a new position in Fate Therapeutics during the second quarter worth approximately $32,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Fate Therapeutics during the second quarter worth approximately $35,000. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing cellular immunotherapies for cancer and autoimmune diseases. The company uses induced pluripotent stem cell (iPSC) technology to create standardized, potentially off-the-shelf immune cell products, including natural killer (NK) cells and T cells.

Its research and development activities include iPSC-derived cell therapies engineered to recognize and attack cancer cells. Fate’s pipeline has included candidates such as FT819, an iPSC-derived, CD19-targeted CAR T-cell therapy, along with other investigational NK-cell and T-cell programs.