Fate Therapeutics, Inc. (NASDAQ:FATE) Receives $3.83 Consensus Price Target from Analysts

Fate Therapeutics, Inc. (NASDAQ:FATE) has received a consensus recommendation of “Hold” from the eight research firms that are presently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $3.83.

Several analysts recently commented on FATE shares. Wells Fargo & Company reduced their target price on Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Robert W. Baird cut their price target on Fate Therapeutics from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, May 14th. Wall Street Zen upgraded Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, May 15th. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a report on Thursday, June 12th. Finally, Stifel Nicolaus cut their price target on Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating on the stock in a report on Thursday, March 6th.

Hedge Funds Weigh In On Fate Therapeutics

Institutional investors have recently modified their holdings of the company. Graham Capital Management L.P. acquired a new position in shares of Fate Therapeutics during the fourth quarter worth approximately $37,000. Brevan Howard Capital Management LP acquired a new position in shares of Fate Therapeutics during the fourth quarter worth approximately $41,000. FPC Investment Advisory Inc. acquired a new position in shares of Fate Therapeutics during the fourth quarter worth approximately $44,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Fate Therapeutics during the fourth quarter worth approximately $55,000. Finally, ProShare Advisors LLC raised its position in shares of Fate Therapeutics by 77.9% during the fourth quarter. ProShare Advisors LLC now owns 33,645 shares of the biopharmaceutical company’s stock worth $56,000 after purchasing an additional 14,728 shares during the period. 97.54% of the stock is owned by institutional investors and hedge funds.

Fate Therapeutics Price Performance

Shares of FATE stock opened at $1.16 on Friday. The business’s 50 day simple moving average is $1.23 and its 200 day simple moving average is $1.28. Fate Therapeutics has a one year low of $0.66 and a one year high of $5.92. The stock has a market capitalization of $132.94 million, a PE ratio of -0.78 and a beta of 2.23.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.07. Fate Therapeutics had a negative return on equity of 47.17% and a negative net margin of 1,318.93%. The business had revenue of $1.63 million for the quarter, compared to analysts’ expectations of $1.18 million. As a group, research analysts expect that Fate Therapeutics will post -1.63 earnings per share for the current year.

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.