Fate Therapeutics (NASDAQ:FATE) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Fate Therapeutics (NASDAQ:FATE) from a sell rating to a hold rating in a research report released on Thursday.

A number of other brokerages have also weighed in on FATE. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research note on Wednesday. Robert W. Baird decreased their target price on shares of Fate Therapeutics from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Wednesday. Wells Fargo & Company decreased their target price on shares of Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Barclays decreased their target price on shares of Fate Therapeutics from $10.00 to $2.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Stifel Nicolaus decreased their target price on shares of Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating for the company in a research note on Thursday, March 6th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.14.

Fate Therapeutics Stock Up 5.2%

Shares of NASDAQ FATE opened at $1.01 on Thursday. Fate Therapeutics has a twelve month low of $0.66 and a twelve month high of $5.92. The firm has a market cap of $115.75 million, a P/E ratio of -0.61 and a beta of 2.32. The company has a 50 day moving average of $1.01 and a 200 day moving average of $1.52.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. The company had revenue of $1.63 million during the quarter, compared to analyst estimates of $1.18 million. As a group, equities analysts expect that Fate Therapeutics will post -1.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fate Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Graham Capital Management L.P. purchased a new stake in shares of Fate Therapeutics in the 4th quarter worth $37,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Fate Therapeutics in the 4th quarter worth $40,000. Brevan Howard Capital Management LP purchased a new stake in shares of Fate Therapeutics in the 4th quarter worth $41,000. FPC Investment Advisory Inc. purchased a new stake in shares of Fate Therapeutics in the 4th quarter worth $44,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Fate Therapeutics in the 4th quarter worth $55,000. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

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.