Fate Therapeutics (NASDAQ:FATE) Share Price Breaks Above 50-Day Moving Average – Time to Sell?

Fate Therapeutics, Inc. (NASDAQ:FATE)’s stock price crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $2.48 and traded as high as $2.58. Fate Therapeutics shares last traded at $2.43, with a volume of 3,381,399 shares changing hands.

Analysts Set New Price Targets

FATE has been the topic of a number of analyst reports. Wedbush reiterated an “outperform” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research note on Friday, August 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Fate Therapeutics in a research note on Friday, August 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $8.00 target price (up from $6.00) on shares of Fate Therapeutics in a report on Friday, August 14th. Finally, Wells Fargo & Company upped their target price on shares of Fate Therapeutics from $2.50 to $3.50 and gave the stock an “equal weight” rating in a research note on Friday, August 14th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Fate Therapeutics currently has an average rating of “Hold” and a consensus price target of $5.90.

Fate Therapeutics Stock Down 6.1%

The stock has a market capitalization of $257.61 million, a P/E ratio of -2.05 and a beta of 2.52. The business has a fifty day moving average price of $2.48 and a 200-day moving average price of $2.17.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.25) EPS for the quarter, hitting the consensus estimate of ($0.25). The company had revenue of $2.08 million during the quarter, compared to the consensus estimate of $1.94 million. Fate Therapeutics had a negative return on equity of 65.08% and a negative net margin of 1,941.09%. On average, equities analysts expect that Fate Therapeutics, Inc. will post -1.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FATE. Callan Family Office LLC bought a new position in Fate Therapeutics in the 2nd quarter worth approximately $29,000. Bank of New York Mellon Corp purchased a new position in shares of Fate Therapeutics in the second quarter worth $31,000. HB Wealth Management LLC purchased a new position in shares of Fate Therapeutics in the second quarter worth $31,000. Focus Partners Advisor Solutions LLC purchased a new position in shares of Fate Therapeutics in the second quarter worth $32,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Fate Therapeutics during the second quarter worth $35,000. Institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing cellular immunotherapies for cancer and other serious diseases. The company uses its induced pluripotent stem cell (iPSC) platform to create standardized, “off-the-shelf” immune cells that can be manufactured in advance and administered to multiple patients.

Its research and development programs include iPSC-derived natural killer (NK) cells and T cells, including genetically engineered cells designed to recognize and attack specific cancer targets.