Fate Therapeutics, Inc. (NASDAQ:FATE) Stock Has Average Price Target of $5.90 According to Analysts

Fate Therapeutics, Inc. (NASDAQ:FATE) has been assigned a consensus recommendation of “Hold” from the eight brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $5.90.

Several analysts have weighed in on the company. Piper Sandler reiterated an “overweight” rating and issued a $8.00 price objective (up from $6.00) on shares of Fate Therapeutics in a research report on Friday, August 14th. Wells Fargo & Company raised their target price on shares of Fate Therapeutics from $2.50 to $3.50 and gave the stock an “equal weight” rating in a report on Friday, August 14th. Wedbush reaffirmed an “outperform” rating and issued a $7.00 target price on shares of Fate Therapeutics in a research note on Friday, August 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fate Therapeutics in a research note on Friday, August 7th.

Institutional Investors Weigh In On Fate Therapeutics

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

Fate Therapeutics Trading Down 0.8%

FATE opened at $1.93 on Friday. Fate Therapeutics has a 12 month low of $0.95 and a 12 month high of $3.23. The business’s 50-day moving average price is $2.42 and its 200-day moving average price is $2.21. The company has a market cap of $230.65 million, a P/E ratio of -1.83 and a beta of 2.52.

Fate Therapeutics (NASDAQ:FATE) last issued its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, meeting the consensus estimate of ($0.25). The company had revenue of $2.08 million during the quarter, compared to analysts’ expectations of $1.94 million. Fate Therapeutics had a negative return on equity of 65.08% and a negative net margin of 1,941.09%. Equities research analysts forecast that Fate Therapeutics will post -1.03 earnings per share for the current fiscal year.

About Fate Therapeutics

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.