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

Shares of Fate Therapeutics, Inc. (NASDAQ:FATEGet Free Report) have received a consensus rating of “Hold” from the fourteen brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $6.75.

Several brokerages have recently weighed in on FATE. Bank of America boosted their price target on shares of Fate Therapeutics from $2.00 to $6.00 and gave the company an “underperform” rating in a research report on Thursday, March 28th. StockNews.com cut shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. HC Wainwright reduced their price objective on shares of Fate Therapeutics from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Thursday, May 16th. Canaccord Genuity Group reduced their price objective on shares of Fate Therapeutics from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Finally, Piper Sandler upgraded shares of Fate Therapeutics from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $4.00 to $6.00 in a report on Monday, June 17th.

Read Our Latest Report on Fate Therapeutics

Institutional Trading of Fate Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Vestal Point Capital LP purchased a new stake in Fate Therapeutics during the fourth quarter worth about $4,825,000. Superstring Capital Management LP acquired a new position in shares of Fate Therapeutics during the fourth quarter worth about $3,171,000. Jacobs Levy Equity Management Inc. grew its position in shares of Fate Therapeutics by 2.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,389,123 shares of the biopharmaceutical company’s stock worth $5,065,000 after buying an additional 54,005 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Fate Therapeutics by 212.3% during the third quarter. Hsbc Holdings PLC now owns 110,392 shares of the biopharmaceutical company’s stock worth $237,000 after buying an additional 75,039 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its position in shares of Fate Therapeutics by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 63,725 shares of the biopharmaceutical company’s stock worth $238,000 after buying an additional 16,159 shares in the last quarter. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Fate Therapeutics Stock Down 0.3 %

Shares of FATE opened at $3.12 on Friday. The firm’s fifty day moving average is $3.65 and its two-hundred day moving average is $5.09. The stock has a market cap of $355.15 million, a PE ratio of -1.62 and a beta of 1.90. Fate Therapeutics has a 52-week low of $1.63 and a 52-week high of $8.83.

Fate Therapeutics (NASDAQ:FATEGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.47) earnings per share for the quarter, meeting the consensus estimate of ($0.47). The firm had revenue of $1.93 million for the quarter, compared to analysts’ expectations of $0.80 million. Fate Therapeutics had a negative net margin of 2,933.79% and a negative return on equity of 46.49%. During the same quarter in the previous year, the company posted ($0.19) EPS. As a group, research analysts anticipate that Fate Therapeutics will post -1.9 earnings per share for the current year.

Fate Therapeutics Company Profile

(Get Free Report

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.

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Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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