Analysts Set Fate Therapeutics, Inc. (NASDAQ:FATE) Price Target at $3.30

Key Points

• Fate Therapeutics, Inc. has received an average recommendation of "Hold" from seven brokerages, with one analyst issuing a buy recommendation and the average price target set at $3.30.
• In its latest quarterly earnings report, Fate Therapeutics beat analysts' expectations with a reported EPS of ($0.29) and revenue of $1.91 million, surpassing the estimated revenue of $1.16 million.
• Recent institutional trading has seen significant increases in stakes, with Wells Fargo & Company MN boosting its position by 56.3% during the fourth quarter.

Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) has been given an average recommendation of "Hold" by the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $3.30.

A number of research firms recently commented on FATE. Wells Fargo & Company decreased their price target on Fate Therapeutics from $4.00 to $2.50 and set an "equal weight" rating for the company in a research note on Wednesday, August 13th. Wall Street Zen upgraded Fate Therapeutics from a "sell" rating to a "hold" rating in a research report on Monday, August 18th. Robert W. Baird dropped their target price on Fate Therapeutics from $5.00 to $4.00 and set a "neutral" rating on the stock in a report on Wednesday, May 14th. Needham & Company LLC restated a "hold" rating on shares of Fate Therapeutics in a research report on Thursday, June 12th. Finally, Barclays cut their target price on Fate Therapeutics from $10.00 to $2.00 and set an "overweight" rating for the company in a research report on Wednesday, May 14th.

Fate Therapeutics Stock Down 2.1%

Shares of FATE stock traded down $0.02 during mid-day trading on Thursday, hitting $0.99. 253,564 shares of the company's stock were exchanged, compared to its average volume of 1,989,193. Fate Therapeutics has a fifty-two week low of $0.66 and a fifty-two week high of $4.20. The stock has a 50-day simple moving average of $1.11 and a two-hundred day simple moving average of $1.11. The stock has a market cap of $114.06 million, a price-to-earnings ratio of -0.68 and a beta of 2.21.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Graham Capital Management L.P. purchased a new position in shares of Fate Therapeutics during the fourth quarter valued at $37,000. Savant Capital LLC acquired a new stake in Fate Therapeutics during the second quarter valued at $27,000. Brevan Howard Capital Management LP acquired a new stake in shares of Fate Therapeutics in the 4th quarter valued at $41,000. Bridgeway Capital Management LLC bought a new stake in Fate Therapeutics in the second quarter worth $28,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Fate Therapeutics in the fourth quarter worth $55,000. Hedge funds and other institutional investors own 97.54% of the company's stock.

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.