Brokerages Set Fate Therapeutics, Inc. (NASDAQ:FATE) Price Target at $6.90

Fate Therapeutics, Inc. (NASDAQ:FATE) has been assigned a consensus recommendation of “Hold” from the eleven analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $6.89.

A number of equities research analysts have recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research report on Wednesday. Wedbush reaffirmed a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research report on Tuesday. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research report on Thursday, August 22nd.

Fate Therapeutics Stock Performance

Fate Therapeutics stock opened at $2.08 on Friday. The stock has a fifty day moving average of $3.14 and a two-hundred day moving average of $3.60. The company has a market capitalization of $236.87 million, a price-to-earnings ratio of -1.26 and a beta of 1.88. Fate Therapeutics has a fifty-two week low of $2.05 and a fifty-two week high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.02. The company had revenue of $3.07 million during the quarter, compared to the consensus estimate of $0.88 million. Fate Therapeutics had a negative return on equity of 44.88% and a negative net margin of 1,325.43%. On average, analysts forecast that Fate Therapeutics will post -1.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Fate Therapeutics

A number of institutional investors have recently added to or reduced their stakes in FATE. Susquehanna Fundamental Investments LLC acquired a new position in shares of Fate Therapeutics during the first quarter worth about $1,109,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Fate Therapeutics by 404.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 274,289 shares of the biopharmaceutical company’s stock worth $2,014,000 after purchasing an additional 219,932 shares in the last quarter. Perceptive Advisors LLC acquired a new position in shares of Fate Therapeutics during the second quarter worth about $1,133,000. Vanguard Group Inc. lifted its stake in shares of Fate Therapeutics by 6.6% during the first quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock worth $72,747,000 after purchasing an additional 617,644 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C lifted its stake in shares of Fate Therapeutics by 62.3% during the second quarter. Deerfield Management Company L.P. Series C now owns 3,555,871 shares of the biopharmaceutical company’s stock worth $11,663,000 after purchasing an additional 1,365,463 shares in the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Company Profile

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.