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

Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) has been assigned an average rating of "Hold" from the nine brokerages that are covering the company, MarketBeat.com reports. Seven 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 updated their coverage on the stock in the last year is $4.14.

FATE has been the topic of a number of analyst reports. Stifel Nicolaus decreased their target price on shares of Fate Therapeutics from $5.00 to $3.00 and set a "hold" rating on the stock in a research report on Thursday, March 6th. Wedbush reaffirmed a "neutral" rating and set a $5.00 price target on shares of Fate Therapeutics in a research note on Thursday, March 6th. Wells Fargo & Company cut 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 note on Thursday, March 6th. Robert W. Baird cut their price target on shares of Fate Therapeutics from $5.00 to $4.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 14th. Finally, Wall Street Zen raised shares of Fate Therapeutics from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th.

Hedge Funds Weigh In On Fate Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC raised its stake in shares of Fate Therapeutics by 67.8% in 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 acquiring an additional 999,773 shares during the period. Jane Street Group LLC raised its stake in shares of Fate Therapeutics by 106.9% in the 1st quarter. Jane Street Group LLC now owns 63,691 shares of the biopharmaceutical company's stock valued at $50,000 after acquiring an additional 32,911 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of Fate Therapeutics by 38.8% in 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 acquiring an additional 616,336 shares during the period. AQR Capital Management LLC raised its stake in shares of Fate Therapeutics by 296.4% in the 1st quarter. AQR Capital Management LLC now owns 585,025 shares of the biopharmaceutical company's stock valued at $462,000 after acquiring an additional 437,423 shares during the period. Finally, Vestal Point Capital LP increased its stake 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 worth $1,988,000 after buying an additional 50,850 shares during the period. Hedge funds and other institutional investors own 97.54% of the company's stock.

Fate Therapeutics Stock Performance

NASDAQ FATE traded up $0.05 during mid-day trading on Tuesday, reaching $1.32. 1,422,878 shares of the stock were exchanged, compared to its average volume of 2,231,205. Fate Therapeutics has a 1-year low of $0.66 and a 1-year high of $5.92. The business's fifty day simple moving average is $1.06 and its 200 day simple moving average is $1.44. The stock has a market capitalization of $151.28 million, a PE ratio of -0.80 and a beta of 2.32.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.39) by $0.07. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. The firm had revenue of $1.63 million for the quarter, compared to analyst estimates of $1.18 million. On average, analysts anticipate that Fate Therapeutics will post -1.63 EPS 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.