Fate Therapeutics (NASDAQ:FATE) Now Covered by Jefferies Financial Group

Stock analysts at Jefferies Financial Group assumed coverage on shares of Fate Therapeutics (NASDAQ:FATE) in a report released on Tuesday. The brokerage set a “buy” rating on the biopharmaceutical company’s stock.

Several other equities analysts have also recently weighed in on the company. Weiss Ratings upgraded Fate Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. HC Wainwright raised their target price on Fate Therapeutics from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Fate Therapeutics currently has a consensus rating of “Hold” and an average price target of $5.50.

Fate Therapeutics Price Performance

NASDAQ:FATE traded up $0.14 on Tuesday, reaching $1.87. 5,376,476 shares of the company’s stock were exchanged, compared to its average volume of 1,985,206. The firm has a market cap of $218.20 million, a price-to-earnings ratio of -1.72 and a beta of 2.13. The stock has a fifty day simple moving average of $1.42 and a 200-day simple moving average of $1.25. Fate Therapeutics has a 52 week low of $0.91 and a 52 week high of $2.47.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.03. Fate Therapeutics had a negative net margin of 2,056.79% and a negative return on equity of 58.89%. The company had revenue of $1.30 million for the quarter, compared to analysts’ expectations of $1.49 million. As a group, sell-side analysts predict that Fate Therapeutics will post -1.08 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FATE. Savant Capital LLC raised its stake in Fate Therapeutics by 48.6% in the third 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 in the last quarter. Russell Investments Group Ltd. raised its position in shares of Fate Therapeutics by 73.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 12,114 shares in the last quarter. SG Americas Securities LLC grew its stake in Fate Therapeutics by 161.2% in the fourth quarter. SG Americas Securities LLC now owns 38,913 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 24,013 shares during the period. Bank of America Corp DE lifted its position in Fate Therapeutics by 20.0% during the third quarter. Bank of America Corp DE now owns 146,553 shares of the biopharmaceutical company’s stock valued at $185,000 after buying an additional 24,423 shares during the period. Finally, Bridgeway Capital Management LLC bought a new stake in shares of Fate Therapeutics during the 2nd quarter valued at $28,000. 97.54% of the stock is owned by hedge funds and other institutional investors.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development of first‐in‐class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off‐the‐shelf natural killer (NK) and T‐cell products designed to overcome limitations of donor‐derived approaches. Fate’s research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.

Central to Fate’s pipeline are multiple iPSC‐derived cell therapy candidates in active clinical development.