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

Fate Therapeutics, Inc. (NASDAQ:FATE) has been assigned an average rating of “Hold” from the twelve research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $6.90.

FATE has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a report on Wednesday, August 14th. HC Wainwright restated a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Finally, Piper Sandler upgraded shares of Fate Therapeutics from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $4.00 to $6.00 in a report on Monday, June 17th.

Fate Therapeutics Stock Performance

Shares of NASDAQ:FATE opened at $3.45 on Thursday. The firm’s 50 day moving average is $4.00 and its two-hundred day moving average is $4.46. The firm has a market capitalization of $392.89 million, a P/E ratio of -1.80 and a beta of 1.84. Fate Therapeutics has a 52 week low of $1.63 and a 52 week high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.14. The firm had revenue of $6.77 million for the quarter, compared to analysts’ expectations of $1.47 million. Fate Therapeutics had a negative return on equity of 44.09% and a negative net margin of 1,426.67%. Analysts predict that Fate Therapeutics will post -1.73 EPS for the current year.

Institutional Trading of Fate Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in FATE. Victory Capital Management Inc. increased its holdings in shares of Fate Therapeutics by 22.8% in the fourth quarter. Victory Capital Management Inc. now owns 12,504 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 2,322 shares in the last quarter. RPO LLC acquired a new position in shares of Fate Therapeutics in the 4th quarter worth $46,000. Vestal Point Capital LP acquired a new stake in shares of Fate Therapeutics during the fourth quarter worth $4,825,000. Superstring Capital Management LP purchased a new stake in shares of Fate Therapeutics during the fourth quarter valued at $3,171,000. Finally, Pennant Investors LP acquired a new position in shares of Fate Therapeutics in the 4th quarter valued at $546,000. 97.54% of the stock is owned by institutional investors and hedge funds.

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.