Fate Therapeutics, Inc. (NASDAQ:FATE) Receives $3.92 Consensus Target Price from Brokerages

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have earned an average rating of “Hold” from the nine analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $3.9167.

FATE has been the topic of a number of research analyst reports. Wedbush raised shares of Fate Therapeutics from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $5.00 to $7.00 in a research report on Monday, October 27th. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research report on Monday, October 27th. HC Wainwright upgraded Fate Therapeutics from a “neutral” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Friday, October 31st. Wells Fargo & Company decreased their target price on Fate Therapeutics from $4.00 to $2.50 and set an “equal weight” rating for the company in a research report on Wednesday, August 13th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Fate Therapeutics in a report on Tuesday, November 4th.

Fate Therapeutics Trading Up 4.9%

Shares of NASDAQ:FATE opened at $1.08 on Tuesday. The company has a 50-day moving average price of $1.23 and a 200-day moving average price of $1.18. The company has a market cap of $124.58 million, a price-to-earnings ratio of -0.82 and a beta of 2.42. Fate Therapeutics has a 12 month low of $0.66 and a 12 month high of $3.43.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Thursday, November 13th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.02. Fate Therapeutics had a negative return on equity of 51.28% and a negative net margin of 2,187.11%.The company had revenue of $1.74 million for the quarter, compared to the consensus estimate of $1.63 million. As a group, research analysts forecast that Fate Therapeutics will post -1.63 EPS for the current fiscal year.

Institutional Trading of Fate Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its stake in Fate Therapeutics by 67.8% during the first quarter. Acadian Asset Management LLC now owns 2,473,565 shares of the biopharmaceutical company’s stock valued at $1,952,000 after buying an additional 999,773 shares during the last quarter. Monaco Asset Management SAM increased its holdings in shares of Fate Therapeutics by 250.9% during the first quarter. Monaco Asset Management SAM now owns 1,149,708 shares of the biopharmaceutical company’s stock valued at $908,000 after acquiring an additional 822,037 shares in the last quarter. Two Sigma Investments LP raised its position in shares of Fate Therapeutics by 294.4% in the 3rd quarter. Two Sigma Investments LP now owns 900,757 shares of the biopharmaceutical company’s stock worth $1,135,000 after purchasing an additional 672,352 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Fate Therapeutics by 38.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,203,323 shares of the biopharmaceutical company’s stock worth $1,741,000 after purchasing an additional 616,336 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Fate Therapeutics by 296.4% during the 1st quarter. AQR Capital Management LLC now owns 585,025 shares of the biopharmaceutical company’s stock valued at $462,000 after purchasing an additional 437,423 shares during the last quarter. Hedge funds and other 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.