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

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 earned an average recommendation of "Hold" from the seven brokerages that are presently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $3.30.

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

Institutional Trading of Fate Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN boosted its position in Fate Therapeutics by 56.3% during the fourth quarter. Wells Fargo & Company MN now owns 92,395 shares of the biopharmaceutical company's stock valued at $152,000 after buying an additional 33,284 shares during the period. Dimensional Fund Advisors LP boosted its position in Fate Therapeutics by 10.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,898,377 shares of the biopharmaceutical company's stock valued at $4,782,000 after buying an additional 279,360 shares during the period. Hsbc Holdings PLC boosted its position in Fate Therapeutics by 22.0% during the fourth quarter. Hsbc Holdings PLC now owns 109,422 shares of the biopharmaceutical company's stock valued at $179,000 after buying an additional 19,706 shares during the period. BNP Paribas Financial Markets boosted its position in Fate Therapeutics by 65.2% during the fourth quarter. BNP Paribas Financial Markets now owns 287,711 shares of the biopharmaceutical company's stock valued at $475,000 after buying an additional 113,563 shares during the period. Finally, Brevan Howard Capital Management LP purchased a new stake in Fate Therapeutics during the fourth quarter valued at about $41,000. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Fate Therapeutics Price Performance

FATE opened at $1.00 on Thursday. The company has a fifty day moving average price of $1.11 and a 200-day moving average price of $1.12. The firm has a market capitalization of $115.33 million, a P/E ratio of -0.69 and a beta of 2.21. Fate Therapeutics has a one year low of $0.66 and a one year high of $4.20.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating analysts' consensus estimates of ($0.35) by $0.06. The firm had revenue of $1.91 million during the quarter, compared to analyst estimates of $1.16 million. Fate Therapeutics had a negative net margin of 2,025.05% and a negative return on equity of 50.95%. On average, analysts expect 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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