Fate Therapeutics, Inc. (NASDAQ:FATE) Receives $5.90 Average Price Target from Brokerages

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have received a consensus recommendation of “Hold” from the eight analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $5.90.

A number of equities research analysts recently weighed in on FATE shares. Wedbush restated an “outperform” rating and issued a $7.00 price target on shares of Fate Therapeutics in a report on Friday, August 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fate Therapeutics in a report on Friday, August 7th. Wells Fargo & Company boosted their target price on Fate Therapeutics from $2.50 to $3.50 and gave the stock an “equal weight” rating in a research report on Friday, August 14th. Jefferies Financial Group set a $4.00 target price on Fate Therapeutics in a report on Tuesday, May 19th. Finally, HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research report on Monday, June 8th.

Hedge Funds Weigh In On Fate Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Callan Family Office LLC acquired a new position in Fate Therapeutics in the second quarter valued at $29,000. Bank of New York Mellon Corp purchased a new position in Fate Therapeutics during the second quarter worth about $31,000. HB Wealth Management LLC acquired a new stake in Fate Therapeutics in the 2nd quarter worth about $31,000. Focus Partners Advisor Solutions LLC acquired a new stake in Fate Therapeutics in the 2nd quarter worth about $32,000. Finally, Russell Investments Group Ltd. grew its holdings in Fate Therapeutics by 73.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 12,114 shares during the period. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Fate Therapeutics Stock Up 4.7%

Shares of FATE stock opened at $2.44 on Thursday. The stock has a market capitalization of $292.36 million, a PE ratio of -2.32 and a beta of 2.52. Fate Therapeutics has a 52-week low of $0.93 and a 52-week high of $3.23. The stock’s 50-day moving average price is $2.57 and its 200 day moving average price is $1.92.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, hitting the consensus estimate of ($0.25). Fate Therapeutics had a negative return on equity of 65.08% and a negative net margin of 1,941.09%.The firm had revenue of $2.08 million during the quarter, compared to the consensus estimate of $1.94 million. Analysts expect that Fate Therapeutics will post -1.06 earnings per share for the current fiscal year.

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.