Brokerages Set Fate Therapeutics, Inc. (NASDAQ:FATE) Target Price at $4.10

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have received an average recommendation of “Hold” from the eight analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $4.10.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Fate Therapeutics in a research report on Thursday, January 22nd.

Fate Therapeutics Stock Performance

FATE opened at $1.32 on Friday. The stock has a market capitalization of $153.46 million, a PE ratio of -1.15 and a beta of 2.23. Fate Therapeutics has a one year low of $0.91 and a one year high of $1.94. The business’s 50 day moving average price is $1.29 and its 200 day moving average price is $1.21.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Thursday, February 26th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.27). Fate Therapeutics had a negative return on equity of 55.02% and a negative net margin of 2,051.08%.The company had revenue of $1.37 million during the quarter, compared to analysts’ expectations of $1.20 million. As a group, equities research analysts forecast that Fate Therapeutics will post -1.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fate Therapeutics

Institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. raised its stake in shares of Fate Therapeutics by 28.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 190,252 shares of the biopharmaceutical company’s stock valued at $228,000 after acquiring an additional 41,599 shares during the period. SG Americas Securities LLC boosted its position in shares of Fate Therapeutics by 105.9% during the 1st quarter. SG Americas Securities LLC now owns 80,139 shares of the biopharmaceutical company’s stock worth $96,000 after purchasing an additional 41,226 shares during the period. Corient Private Wealth LLC purchased a new position in shares of Fate Therapeutics during the 4th quarter worth approximately $29,000. Virtu Financial LLC acquired a new stake in Fate Therapeutics in the 4th quarter valued at approximately $68,000. Finally, Invesco Ltd. increased its holdings in Fate Therapeutics by 20.4% in the 4th quarter. Invesco Ltd. now owns 379,025 shares of the biopharmaceutical company’s stock valued at $372,000 after purchasing an additional 64,200 shares during the last quarter. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development of first‐in‐class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off‐the‐shelf natural killer (NK) and T‐cell products designed to overcome limitations of donor‐derived approaches. Fate’s research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.

Central to Fate’s pipeline are multiple iPSC‐derived cell therapy candidates in active clinical development.