Analysts Set Fate Therapeutics, Inc. (NASDAQ:FATE) Price Target at $5.90

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have been given a consensus rating of “Hold” by the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $5.90.

A number of equities analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Fate Therapeutics in a research note on Monday, June 8th. Piper Sandler restated an “overweight” rating and issued a $8.00 target price (up from $6.00) on shares of Fate Therapeutics in a report on Friday, August 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Fate Therapeutics in a research note on Friday, August 7th. Wells Fargo & Company lifted their price objective on shares of Fate Therapeutics from $2.50 to $3.50 and gave the stock an “equal weight” rating in a report on Friday, August 14th. Finally, Jefferies Financial Group set a $4.00 target price on shares of Fate Therapeutics in a research note on Tuesday, May 19th.

Fate Therapeutics Trading Down 4.9%

Fate Therapeutics stock opened at $2.33 on Thursday. The firm has a market capitalization of $279.18 million, a price-to-earnings ratio of -2.22 and a beta of 2.52. The firm’s fifty day moving average price is $2.56 and its two-hundred day moving average price is $1.91. Fate Therapeutics has a 1-year low of $0.93 and a 1-year high of $3.23.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.25) EPS for the quarter, hitting the consensus estimate of ($0.25). Fate Therapeutics had a negative net margin of 1,941.09% and a negative return on equity of 65.08%. The company had revenue of $2.08 million during the quarter, compared to the consensus estimate of $1.94 million. On average, research analysts forecast that Fate Therapeutics will post -1.06 EPS for the current year.

Hedge Funds Weigh In On Fate Therapeutics

Several institutional investors have recently modified their holdings of the business. Callan Family Office LLC bought a new stake in Fate Therapeutics during the second quarter worth $29,000. Bank of New York Mellon Corp bought a new position in Fate Therapeutics in the 2nd quarter valued at $31,000. Focus Partners Advisor Solutions LLC bought a new position in Fate Therapeutics in the 2nd quarter valued at $32,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Fate Therapeutics during the 2nd quarter valued at $35,000. Finally, Deutsche Bank AG purchased a new stake in shares of Fate Therapeutics during the 2nd quarter valued at $41,000. 97.54% of the stock is owned by institutional investors.

About Fate Therapeutics

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.