Fate Therapeutics, Inc. (NASDAQ:FATE) Given Average Rating of "Hold" by Analysts

Key Points

• Fate Therapeutics, Inc. has received an average analyst rating of "Hold", with one sell recommendation, six holds, and one buy.
• Wells Fargo & Company downgraded the stock's target price from $4.00 to $2.50, while Weiss Ratings has reaffirmed a sell rating.
• The company's recent earnings report showed a small revenue surprise, with actual revenue of $1.91 million compared to analysts' expectations of $1.16 million.

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) have earned a consensus rating of "Hold" from the eight research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $3.30.

Several brokerages have issued reports on FATE. Wells Fargo & Company lowered their target price on Fate Therapeutics from $4.00 to $2.50 and set an "equal weight" rating on the stock in a research note on Wednesday, August 13th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Fate Therapeutics in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Fate Therapeutics from a "sell" rating to a "hold" rating in a report on Monday, August 18th.

Institutional Investors Weigh In On Fate Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vestal Point Capital LP raised its holdings in Fate Therapeutics by 2.1% during the 1st quarter. Vestal Point Capital LP now owns 2,515,850 shares of the biopharmaceutical company's stock valued at $1,988,000 after acquiring an additional 50,850 shares during the period. Acadian Asset Management LLC raised its stake in shares of Fate Therapeutics by 67.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,473,565 shares of the biopharmaceutical company's stock valued at $1,952,000 after purchasing an additional 999,773 shares during the period. Geode Capital Management LLC raised its stake in shares of Fate Therapeutics by 7.0% during the 2nd quarter. Geode Capital Management LLC now owns 2,429,167 shares of the biopharmaceutical company's stock valued at $2,721,000 after purchasing an additional 159,558 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of Fate Therapeutics by 38.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,203,323 shares of the biopharmaceutical company's stock valued at $1,741,000 after purchasing an additional 616,336 shares during the period. Finally, Monaco Asset Management SAM raised its stake in shares of Fate Therapeutics by 250.9% during the 1st quarter. Monaco Asset Management SAM now owns 1,149,708 shares of the biopharmaceutical company's stock valued at $908,000 after purchasing an additional 822,037 shares during the period. Institutional investors own 97.54% of the company's stock.

Fate Therapeutics Stock Performance

Shares of FATE stock opened at $1.52 on Friday. The firm has a market cap of $175.30 million, a price-to-earnings ratio of -1.05 and a beta of 2.34. Fate Therapeutics has a 52 week low of $0.66 and a 52 week high of $3.50. The firm's 50-day simple moving average is $1.18 and its two-hundred day simple moving average is $1.17.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping analysts' consensus estimates of ($0.35) by $0.06. The company had revenue of $1.91 million for the quarter, compared to analysts' expectations of $1.16 million. Fate Therapeutics had a negative net margin of 2,025.05% and a negative return on equity of 50.95%. Analysts forecast that Fate Therapeutics will post -1.63 earnings per share for the current year.

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.

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