Fate Therapeutics, Inc. (NASDAQ:FATE) Receives Average Recommendation of “Hold” from Brokerages

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have earned a consensus rating of “Hold” from the eight analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $3.30.

FATE has been the topic of several analyst reports. Wells Fargo & Company reduced their price objective on Fate Therapeutics from $4.00 to $2.50 and set an “equal weight” rating on the stock in a research note on Wednesday, August 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Fate Therapeutics in a research report on Saturday, September 27th. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a report on Thursday, June 12th. Finally, Wall Street Zen raised shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, August 18th.

Hedge Funds Weigh In On Fate Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Savant Capital LLC bought a new stake in Fate Therapeutics in the second quarter worth about $27,000. Bridgeway Capital Management LLC bought a new stake in shares of Fate Therapeutics during the 2nd quarter worth approximately $28,000. CWM LLC boosted its holdings in Fate Therapeutics by 899.6% during the 1st quarter. CWM LLC now owns 41,435 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 37,290 shares during the period. Caption Management LLC purchased a new position in Fate Therapeutics during the 1st quarter valued at $45,000. Finally, Jane Street Group LLC grew its position in Fate Therapeutics by 106.9% in the 1st quarter. Jane Street Group LLC now owns 63,691 shares of the biopharmaceutical company’s stock valued at $50,000 after acquiring an additional 32,911 shares during the last quarter. 97.54% of the stock is currently owned by institutional investors.

Fate Therapeutics Price Performance

Fate Therapeutics stock opened at $1.21 on Monday. Fate Therapeutics has a 52-week low of $0.66 and a 52-week high of $3.50. The firm’s fifty day moving average is $1.06 and its 200 day moving average is $1.11. The company has a market cap of $139.55 million, a price-to-earnings ratio of -0.83 and a beta of 2.34.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Tuesday, August 12th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.06. Fate Therapeutics had a negative net margin of 2,025.05% and a negative return on equity of 50.95%. The firm had revenue of $1.91 million for the quarter, compared to the consensus estimate of $1.16 million. On average, equities research analysts anticipate that Fate Therapeutics will post -1.63 earnings per share for the current fiscal year.

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.