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

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have earned a consensus rating of “Hold” from the nine brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $3.9167.

Several equities analysts have recently issued reports on the company. HC Wainwright raised Fate Therapeutics from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a report on Friday, October 31st. Wall Street Zen lowered Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Wedbush raised shares of Fate Therapeutics from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $5.00 to $7.00 in a report on Monday, October 27th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Fate Therapeutics in a research note on Tuesday, November 4th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Fate Therapeutics in a research report on Thursday, January 22nd.

Fate Therapeutics Trading Up 8.6%

FATE opened at $1.14 on Friday. Fate Therapeutics has a 12-month low of $0.66 and a 12-month high of $1.94. The firm has a 50 day moving average of $1.09 and a two-hundred day moving average of $1.14. The firm has a market capitalization of $131.50 million, a PE ratio of -0.86 and a beta of 2.24.

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

Hedge Funds Weigh In On Fate Therapeutics

Large investors have recently bought and sold shares of the business. Savant Capital LLC purchased a new stake in shares of Fate Therapeutics in the second quarter valued at approximately $27,000. Bridgeway Capital Management LLC acquired a new stake in Fate Therapeutics in the 2nd quarter valued at $28,000. Russell Investments Group Ltd. increased 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 worth $36,000 after acquiring an additional 12,114 shares in the last quarter. SG Americas Securities LLC raised its position in Fate Therapeutics by 161.2% during the fourth quarter. SG Americas Securities LLC now owns 38,913 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 24,013 shares during the period. Finally, Headlands Technologies LLC purchased a new position in Fate Therapeutics during the second quarter valued at $56,000. Institutional investors and hedge funds own 97.54% of the company’s stock.

About Fate Therapeutics

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.