Fate Therapeutics, Inc. (NASDAQ:FATE) Receives Consensus Rating of “Hold” from Analysts

Fate Therapeutics, Inc. (NASDAQ:FATE) has been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $5.1250.

FATE has been the topic of a number of recent analyst reports. Jefferies Financial Group set a $4.00 price objective on Fate Therapeutics in a research note on Tuesday, May 19th. Weiss Ratings upgraded Fate Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Finally, HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research note on Monday, June 8th.

Insider Activity at Fate Therapeutics

In other news, insider Cindy Tahl sold 25,590 shares of Fate Therapeutics stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $1.88, for a total value of $48,109.20. Following the completion of the sale, the insider owned 628,155 shares in the company, valued at $1,180,931.40. The trade was a 3.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.74% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FATE. Commonwealth Equity Services LLC bought a new stake in Fate Therapeutics in the fourth quarter valued at $26,000. Bridgeway Capital Management LLC bought a new position in shares of Fate Therapeutics during the 2nd quarter worth about $28,000. Corient Private Wealth LLC bought a new position in shares of Fate Therapeutics during the 4th quarter worth about $29,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Fate Therapeutics in the 4th quarter valued at about $35,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Fate Therapeutics by 73.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 12,114 shares during the period. 97.54% of the stock is owned by institutional investors.

Fate Therapeutics Stock Up 6.4%

Shares of NASDAQ FATE opened at $2.51 on Friday. Fate Therapeutics has a twelve month low of $0.91 and a twelve month high of $3.23. The firm has a fifty day simple moving average of $2.45 and a 200 day simple moving average of $1.75. The company has a market capitalization of $292.57 million, a PE ratio of -2.30 and a beta of 2.51.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.03. Fate Therapeutics had a negative net margin of 2,056.79% and a negative return on equity of 58.89%. The business had revenue of $1.30 million for the quarter, compared to analysts’ expectations of $1.49 million. As a group, equities analysts expect that Fate Therapeutics will post -1.04 earnings per share for the current fiscal year.

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.