Fate Therapeutics, Inc. (NASDAQ:FATE) Receives Consensus Recommendation of "Hold" from Brokerages

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) have been given a consensus rating of "Hold" by the nine brokerages that are presently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $5.43.

FATE has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their price target on shares of Fate Therapeutics from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 6th. Needham & Company LLC restated a "hold" rating on shares of Fate Therapeutics in a research report on Thursday, March 6th. Stifel Nicolaus cut their price objective on Fate Therapeutics from $5.00 to $3.00 and set a "hold" rating for the company in a research report on Thursday, March 6th. Wedbush restated a "neutral" rating and set a $5.00 target price on shares of Fate Therapeutics in a report on Thursday, March 6th. Finally, StockNews.com lowered Fate Therapeutics from a "hold" rating to a "sell" rating in a research note on Tuesday, March 11th.

Fate Therapeutics Trading Up 4.4 %

NASDAQ:FATE traded up $0.04 during mid-day trading on Friday, hitting $1.00. The company's stock had a trading volume of 1,443,229 shares, compared to its average volume of 2,273,892. The stock has a fifty day moving average of $1.01 and a 200-day moving average of $1.60. The company has a market capitalization of $114.60 million, a price-to-earnings ratio of -0.61 and a beta of 2.32. Fate Therapeutics has a fifty-two week low of $0.66 and a fifty-two week high of $5.92.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last posted its earnings results on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.13. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. The business had revenue of $1.86 million during the quarter, compared to the consensus estimate of $1.57 million. On average, equities analysts anticipate that Fate Therapeutics will post -1.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fate Therapeutics

Several large investors have recently bought and sold shares of FATE. JPMorgan Chase & Co. raised its position in shares of Fate Therapeutics by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,837,304 shares of the biopharmaceutical company's stock valued at $6,431,000 after acquiring an additional 283,080 shares during the last quarter. American Century Companies Inc. increased its holdings in Fate Therapeutics by 6.6% in the fourth quarter. American Century Companies Inc. now owns 197,704 shares of the biopharmaceutical company's stock valued at $326,000 after purchasing an additional 12,295 shares during the last quarter. SG Americas Securities LLC lifted its stake in Fate Therapeutics by 30.6% in the fourth quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company's stock valued at $74,000 after buying an additional 10,511 shares during the period. Barclays PLC boosted its holdings in Fate Therapeutics by 245.3% during the third quarter. Barclays PLC now owns 424,277 shares of the biopharmaceutical company's stock worth $1,485,000 after buying an additional 301,389 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Fate Therapeutics by 42.9% during the 4th quarter. Russell Investments Group Ltd. now owns 89,823 shares of the biopharmaceutical company's stock worth $148,000 after buying an additional 26,953 shares during the period. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.