Fate Therapeutics, Inc. (NASDAQ:FATE) Stock Has Consensus Target Price of $5.90

Key Points

• Analysts have a consensus “Hold” rating on Fate Therapeutics, with four buys, three holds and one sell among eight analysts. The average 12-month price target is $5.90, well above the stock’s recent $2.13 price.
• Institutional investors recently established new positions, and hedge funds and other institutions collectively own 97.54% of the company’s shares.
• Fate Therapeutics met quarterly expectations with an adjusted loss of $0.25 per share and $2.08 million in revenue, but remains deeply unprofitable and is expected to report a full-year loss of approximately $1.03 per share.

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) have received a consensus rating of "Hold" from the eight analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $5.90.

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

Institutional Investors Weigh In On Fate Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Callan Family Office LLC purchased a new position in Fate Therapeutics during the second quarter valued at $29,000. Bank of New York Mellon Corp purchased a new stake in Fate Therapeutics in the 2nd quarter worth $31,000. HB Wealth Management LLC bought a new position in shares of Fate Therapeutics during the 2nd quarter valued at about $31,000. Focus Partners Advisor Solutions LLC bought a new position in shares of Fate Therapeutics during the 2nd quarter valued at about $32,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Fate Therapeutics during the 2nd quarter valued at about $35,000. 97.54% of the stock is owned by hedge funds and other institutional investors.

Fate Therapeutics Price Performance

Shares of NASDAQ FATE opened at $2.13 on Friday. The stock has a market cap of $255.22 million, a PE ratio of -2.03 and a beta of 2.52. Fate Therapeutics has a 1 year low of $0.95 and a 1 year high of $3.23. The firm has a fifty day moving average price of $2.46 and a 200-day moving average price of $2.18.

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

Fate Therapeutics Company Profile

Fate Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing cellular immunotherapies for cancer and other serious diseases. The company uses its induced pluripotent stem cell (iPSC) platform to create standardized, “off-the-shelf” immune cells that can be manufactured in advance and administered to multiple patients.

Its research and development programs include iPSC-derived natural killer (NK) cells and T cells, including genetically engineered cells designed to recognize and attack specific cancer targets.

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