Analysts Set Fate Therapeutics, Inc. (NASDAQ:FATE) Price Target at $5.50

Fate Therapeutics, Inc. (NASDAQ:FATE) has been given a consensus rating of “Hold” by the nine research firms that are presently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $5.50.

FATE has been the topic of several research reports. Wells Fargo & Company lowered their price objective on shares of Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. Stifel Nicolaus lowered their price objective on shares of Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating on the stock in a research report on Thursday, March 6th. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research report on Thursday, March 6th. Wedbush restated a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a research report on Thursday, March 6th. Finally, StockNews.com cut shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, March 11th.

Fate Therapeutics Price Performance

Shares of NASDAQ:FATE opened at $0.91 on Thursday. The firm has a fifty day moving average price of $1.24 and a two-hundred day moving average price of $2.21. Fate Therapeutics has a one year low of $0.87 and a one year high of $7.70. The company has a market cap of $103.78 million, a price-to-earnings ratio of -0.55 and a beta of 2.26.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.13. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. The firm had revenue of $1.86 million during the quarter, compared to the consensus estimate of $1.57 million. Equities research analysts expect that Fate Therapeutics will post -1.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Redmile Group, Llc purchased 397,964 shares of the business’s stock in a transaction on Friday, December 20th. The shares were acquired at an average price of $1.68 per share, with a total value of $668,579.52. Following the acquisition, the director now directly owns 12,884,277 shares in the company, valued at approximately $21,645,585.36. The trade was a 3.19 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fate Therapeutics

A number of large investors have recently added to or reduced their stakes in FATE. Tang Capital Management LLC grew its holdings in Fate Therapeutics by 165.1% in the 4th quarter. Tang Capital Management LLC now owns 1,855,954 shares of the biopharmaceutical company’s stock worth $3,062,000 after acquiring an additional 1,155,954 shares during the last quarter. Walleye Capital LLC grew its holdings in Fate Therapeutics by 1,502.0% in the 4th quarter. Walleye Capital LLC now owns 1,083,092 shares of the biopharmaceutical company’s stock worth $1,787,000 after acquiring an additional 1,015,483 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Fate Therapeutics by 4,953.6% during the 4th quarter. Cerity Partners LLC now owns 823,134 shares of the biopharmaceutical company’s stock valued at $1,358,000 after purchasing an additional 806,846 shares in the last quarter. Vestal Point Capital LP boosted its stake in shares of Fate Therapeutics by 46.3% during the 4th quarter. Vestal Point Capital LP now owns 2,465,000 shares of the biopharmaceutical company’s stock valued at $4,067,000 after purchasing an additional 780,000 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Fate Therapeutics during the 4th quarter valued at about $846,000. Institutional investors own 97.54% of the company’s stock.

About Fate Therapeutics

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.