Fate Therapeutics (NASDAQ:FATE) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Fate Therapeutics (NASDAQ:FATE) in a research report sent to investors on Wednesday,Benzinga reports.

Several other brokerages also recently issued reports on FATE. Wedbush reissued a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a research note on Tuesday, November 12th. HC Wainwright reissued a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $6.89.

Fate Therapeutics Stock Down 2.9 %

NASDAQ FATE opened at $2.02 on Wednesday. Fate Therapeutics has a fifty-two week low of $1.96 and a fifty-two week high of $8.83. The business has a fifty day moving average of $3.11 and a 200-day moving average of $3.59. The stock has a market cap of $230.04 million, a price-to-earnings ratio of -1.22 and a beta of 1.88.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.02. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. The firm had revenue of $3.07 million during the quarter, compared to the consensus estimate of $0.88 million. As a group, analysts anticipate that Fate Therapeutics will post -1.73 EPS for the current year.

Institutional Investors Weigh In On Fate Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Fate Therapeutics during the 1st quarter worth about $432,000. BNP Paribas Financial Markets grew its stake in Fate Therapeutics by 100.9% during the first quarter. BNP Paribas Financial Markets now owns 46,962 shares of the biopharmaceutical company’s stock worth $345,000 after buying an additional 23,582 shares during the period. Vanguard Group Inc. increased its position in shares of Fate Therapeutics by 6.6% in the first quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock worth $72,747,000 after acquiring an additional 617,644 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Fate Therapeutics by 404.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 274,289 shares of the biopharmaceutical company’s stock valued at $2,014,000 after acquiring an additional 219,932 shares during the period. Finally, Baker BROS. Advisors LP acquired a new position in shares of Fate Therapeutics during the 1st quarter valued at $13,345,000. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.