Fate Therapeutics, Inc. (NASDAQ:FATE) Given Consensus Rating of “Hold” by Analysts

Fate Therapeutics, Inc. (NASDAQ:FATE) has earned a consensus recommendation of “Hold” from the fourteen research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $6.75.

FATE has been the subject of several analyst reports. Wedbush reaffirmed a “neutral” rating and issued a $7.00 price objective on shares of Fate Therapeutics in a report on Monday, May 6th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a report on Thursday, April 11th. HC Wainwright cut their price target on shares of Fate Therapeutics from $7.00 to $5.00 and set a “neutral” rating for the company in a report on Thursday, May 16th. StockNews.com downgraded shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Finally, Piper Sandler raised shares of Fate Therapeutics from a “neutral” rating to an “overweight” rating and raised their price target for the company from $4.00 to $6.00 in a report on Monday, June 17th.

Fate Therapeutics Trading Down 5.1 %

FATE opened at $4.63 on Wednesday. The company has a 50 day moving average of $3.91 and a 200 day moving average of $5.17. The company has a market cap of $527.03 million, a PE ratio of -2.41 and a beta of 1.90. Fate Therapeutics has a 12 month low of $1.63 and a 12 month high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.47) EPS for the quarter, hitting the consensus estimate of ($0.47). The company had revenue of $1.93 million during the quarter, compared to the consensus estimate of $0.80 million. Fate Therapeutics had a negative net margin of 2,933.79% and a negative return on equity of 46.49%. During the same period last year, the firm earned ($0.19) EPS. Research analysts forecast that Fate Therapeutics will post -1.9 earnings per share for the current fiscal year.

Institutional Trading of Fate Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in FATE. SG Americas Securities LLC raised its position in shares of Fate Therapeutics by 23.0% during the 4th quarter. SG Americas Securities LLC now owns 90,553 shares of the biopharmaceutical company’s stock valued at $339,000 after buying an additional 16,911 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Fate Therapeutics by 1,069.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 16,840 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 15,400 shares during the period. Cerity Partners LLC purchased a new position in Fate Therapeutics in the 4th quarter worth $120,000. Knights of Columbus Asset Advisors LLC raised its position in Fate Therapeutics by 100.0% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 32,184 shares of the biopharmaceutical company’s stock worth $120,000 after purchasing an additional 16,092 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Fate Therapeutics by 34.0% in the 4th quarter. Russell Investments Group Ltd. now owns 233,748 shares of the biopharmaceutical company’s stock worth $874,000 after purchasing an additional 59,267 shares during the period. Hedge funds and other institutional investors own 97.54% of the company’s stock.

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.