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

Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) has been given a consensus rating of "Hold" by the nine brokerages that are currently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $5.43.

Several research firms have recently commented on FATE. Stifel Nicolaus lowered their price objective on shares of Fate Therapeutics from $5.00 to $3.00 and set a "hold" rating for the company in a research note on Thursday, March 6th. StockNews.com lowered Fate Therapeutics from a "hold" rating to a "sell" rating in a research report on Tuesday, March 11th. Needham & Company LLC reiterated a "hold" rating on shares of Fate Therapeutics in a research note on Thursday, March 6th. Wedbush restated a "neutral" rating and issued a $5.00 target price on shares of Fate Therapeutics in a report on Thursday, March 6th. Finally, Wells Fargo & Company reduced their price target on shares of Fate Therapeutics from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Thursday, March 6th.

Fate Therapeutics Trading Up 5.6 %

FATE traded up $0.07 during midday trading on Friday, hitting $1.31. 1,369,266 shares of the company traded hands, compared to its average volume of 2,271,627. Fate Therapeutics has a 52-week low of $0.66 and a 52-week high of $5.92. The company has a market capitalization of $150.13 million, a price-to-earnings ratio of -0.79 and a beta of 2.31. The business has a 50 day simple moving average of $1.01 and a two-hundred day simple moving average of $1.63.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.13. The firm had revenue of $1.86 million for the quarter, compared to analysts' expectations of $1.57 million. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. Equities research analysts anticipate that Fate Therapeutics will post -1.63 earnings per share for the current year.

Institutional Trading of Fate Therapeutics

Large investors have recently modified their holdings of the business. CWM LLC grew its stake in Fate Therapeutics by 899.6% during the 1st quarter. CWM LLC now owns 41,435 shares of the biopharmaceutical company's stock valued at $33,000 after purchasing an additional 37,290 shares in the last quarter. Graham Capital Management L.P. bought a new stake in shares of Fate Therapeutics in the fourth quarter worth $37,000. China Universal Asset Management Co. Ltd. bought a new position in Fate Therapeutics during the 4th quarter worth approximately $40,000. Brevan Howard Capital Management LP acquired a new position in Fate Therapeutics in the fourth quarter valued at approximately $41,000. Finally, FPC Investment Advisory Inc. bought a new stake in Fate Therapeutics in the fourth quarter valued at $44,000. 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.