Fate Therapeutics, Inc. (NASDAQ:FATE) Given Average Recommendation of “Hold” by Analysts

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have earned an average rating of “Hold” from the twelve research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $6.73.

A number of equities research analysts have issued reports on the company. Wedbush reaffirmed a “neutral” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research report on Tuesday. BMO Capital Markets increased their price target on Fate Therapeutics from $6.00 to $7.00 and gave the company a “market perform” rating in a research report on Tuesday, February 27th. Oppenheimer reaffirmed a “market perform” rating on shares of Fate Therapeutics in a research report on Tuesday, February 27th. Barclays increased their price target on Fate Therapeutics from $6.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research report on Thursday, April 11th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dark Forest Capital Management LP grew its stake in shares of Fate Therapeutics by 477.9% in the 3rd quarter. Dark Forest Capital Management LP now owns 425,901 shares of the biopharmaceutical company’s stock valued at $903,000 after purchasing an additional 352,204 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Fate Therapeutics by 1,121.7% in the third quarter. State Board of Administration of Florida Retirement System now owns 340,554 shares of the biopharmaceutical company’s stock valued at $722,000 after buying an additional 312,678 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Fate Therapeutics by 135.5% in the third quarter. Acadian Asset Management LLC now owns 2,149,597 shares of the biopharmaceutical company’s stock valued at $4,555,000 after buying an additional 1,236,680 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Fate Therapeutics by 281.3% in the third quarter. Assenagon Asset Management S.A. now owns 380,737 shares of the biopharmaceutical company’s stock valued at $807,000 after buying an additional 280,895 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Fate Therapeutics by 2.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,389,123 shares of the biopharmaceutical company’s stock valued at $5,065,000 after buying an additional 54,005 shares in the last quarter. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Fate Therapeutics Price Performance

Shares of Fate Therapeutics stock opened at $3.80 on Monday. The business has a 50-day moving average of $6.73 and a 200 day moving average of $4.56. Fate Therapeutics has a 12 month low of $1.63 and a 12 month high of $8.83. The stock has a market capitalization of $432.52 million, a price-to-earnings ratio of -2.32 and a beta of 1.66.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.12. The company had revenue of $1.68 million during the quarter, compared to analysts’ expectations of $0.85 million. Fate Therapeutics had a negative return on equity of 38.17% and a negative net margin of 253.30%. During the same period last year, the business posted ($0.58) EPS. Equities research analysts anticipate that Fate Therapeutics will post -1.94 earnings per share for the current year.

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.