Fate Therapeutics, Inc. (NASDAQ:FATE) Stock Has Average Target Price of $5.90 According to Analysts

Key Points

• Analysts have a mixed outlook on Fate Therapeutics, with seven brokerages giving the stock an average “Hold” rating and a 12-month average price target of $5.90.
• Fate shares opened at $2.01 and remain unprofitable, with a negative net margin of 1,941.09%; the company reported quarterly revenue of $2.08 million and a loss of $0.25 per share.
• Institutional ownership is high at 97.54%, with major investors including BlackRock and Johnson & Johnson recently taking stakes in the clinical-stage biopharmaceutical company.

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) have received an average recommendation of "Hold" from the seven brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $5.90.

A number of analysts have commented on the company. Wells Fargo & Company boosted their price objective on Fate Therapeutics from $2.50 to $3.50 and gave the stock an "equal weight" rating in a report on Friday, August 14th. Piper Sandler restated an "overweight" rating and issued a $8.00 target price (up from $6.00) on shares of Fate Therapeutics in a report on Friday, August 14th. Wedbush reaffirmed an "outperform" rating and set a $7.00 target price on shares of Fate Therapeutics in a research report on Tuesday, October 27th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Fate Therapeutics in a report on Friday, August 7th.

Fate Therapeutics Trading Down 3.4%

Fate Therapeutics stock opened at $2.01 on Tuesday. The firm has a market capitalization of $240.84 million, a price-to-earnings ratio of -1.91 and a beta of 2.52. The firm's fifty day moving average price is $2.28 and its two-hundred day moving average price is $1.96. Fate Therapeutics has a 1-year low of $0.95 and a 1-year high of $3.23.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last posted its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.25). Fate Therapeutics had a negative net margin of 1,941.09% and a negative return on equity of 65.08%. The company had revenue of $2.08 million for the quarter, compared to analyst estimates of $1.94 million. On average, research analysts forecast that Fate Therapeutics will post -1.03 EPS for the current year.

Hedge Funds Weigh In On Fate Therapeutics

Several large investors have recently bought and sold shares of FATE. BlackRock Inc. bought a new stake in Fate Therapeutics in the 2nd quarter worth about $19,707,000. Johnson & Johnson bought a new position in shares of Fate Therapeutics during the 2nd quarter worth approximately $9,123,473. Renaissance Technologies LLC lifted its position in shares of Fate Therapeutics by 26.0% during the 1st quarter. Renaissance Technologies LLC now owns 2,974,683 shares of the biopharmaceutical company's stock worth $3,570,000 after buying an additional 613,802 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Fate Therapeutics by 799.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,311,765 shares of the biopharmaceutical company's stock worth $3,109,000 after buying an additional 1,165,927 shares in the last quarter. Finally, Irenic Capital Management LP purchased a new position in shares of Fate Therapeutics in the 1st quarter worth approximately $1,054,000. 97.54% of the stock is currently owned by institutional investors.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing cellular immunotherapies for cancer and autoimmune diseases. The company uses induced pluripotent stem cell (iPSC) technology to create standardized, potentially off-the-shelf immune cell products, including natural killer (NK) cells and T cells.

Its research and development activities include iPSC-derived cell therapies engineered to recognize and attack cancer cells. Fate's pipeline has included candidates such as FT819, an iPSC-derived, CD19-targeted CAR T-cell therapy, along with other investigational NK-cell and T-cell programs.

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