Brokerages Set Fate Therapeutics, Inc. (NASDAQ:FATE) Price Target at $3.92

Fate Therapeutics, Inc. (NASDAQ:FATE) has been given a consensus recommendation of “Hold” by the nine analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $3.9167.

Several equities research analysts recently issued reports on FATE shares. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Fate Therapeutics in a research note on Tuesday, November 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research report on Monday, October 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Fate Therapeutics in a research note on Wednesday, October 8th. Wedbush raised Fate Therapeutics from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $5.00 to $7.00 in a research note on Monday, October 27th. Finally, Wall Street Zen lowered Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Savant Capital LLC acquired a new position in Fate Therapeutics during the 2nd quarter worth $27,000. Bridgeway Capital Management LLC acquired a new position in shares of Fate Therapeutics during the 2nd quarter worth about $28,000. Russell Investments Group Ltd. boosted its stake in Fate Therapeutics by 73.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 12,114 shares during the period. SG Americas Securities LLC boosted its stake in Fate Therapeutics by 161.2% during the 4th quarter. SG Americas Securities LLC now owns 38,913 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 24,013 shares during the period. Finally, Jane Street Group LLC grew its holdings in Fate Therapeutics by 106.9% in the 1st quarter. Jane Street Group LLC now owns 63,691 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 32,911 shares during the last quarter. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Fate Therapeutics Stock Performance

Shares of NASDAQ FATE opened at $1.05 on Wednesday. The business has a 50 day simple moving average of $1.05 and a 200 day simple moving average of $1.13. Fate Therapeutics has a 52 week low of $0.66 and a 52 week high of $1.94. The stock has a market cap of $121.12 million, a price-to-earnings ratio of -0.80 and a beta of 2.22.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings data on Thursday, November 13th. The biopharmaceutical company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.02. The firm had revenue of $1.74 million for the quarter, compared to analyst estimates of $1.63 million. Fate Therapeutics had a negative net margin of 2,187.11% and a negative return on equity of 51.28%. On average, analysts predict that Fate Therapeutics will post -1.63 EPS for the current 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.